Selling an apartment by proxy: what you need to know

Selling an apartment: How to sell an apartment if the owner cannot participate in the transaction, we will tell in the article.

What is a power of attorney

A power of attorney for the sale of an apartment is a document according to which the owner grants the authority to act on his behalf to another person.

Any person or individual or organization can entrust the sale of an apartment. A power of attorney can only be issued to a capable and adult person. In a transaction where there are children or incapacitated citizens, parents, guardians, adoptive parents can issue powers of attorney.

In addition, several people can be indicated in the power of attorney as a principal and an authorized representative. For example, five owners of a communal apartment can entrust its sale to a realtor.

A trustee has limitations: he cannot buy an apartment if he has a power of attorney to sell the same apartment. Also, the sale of an apartment will be invalid if the trustee conducts a sale transaction to another person, whose authorized representative he is.

There are several types of power of attorney:

One -time , on which you can perform one action. For example, only draw up a contract of sale or sign an act of acceptance and transfer. After fulfillment of the obligation, the power of attorney becomes invalid.

Special, on which you can perform the same actions. For example, to represent the owner in court.

General, according to which you can perform any actions with real estate. This power of attorney gives maximum rights, unless an exception is specified in the document.

Any power of attorney related to real estate must be certified by a notary.

How to issue a power of attorney

A power of attorney can only be issued at a notary’s office. If the property owner cannot come to a personal appointment with a specialist, then a notary can be called home.

The presence of a trustee is desirable, but not mandatory, i.e. the owner alone can issue a power of attorney and indicate in the document the person to whom he delegates authority to real estate.

The notary must explain to the owner what risks arise when issuing a power of attorney for the sale of an apartment, and make sure that the owner voluntarily and consciously transfers rights to a third party.

Only after that, the notary finds out the details of the transaction, draws up a power of attorney according to the model, certifies it himself and lets the owner sign it. When the power of attorney is ready, it is entered into the register of the Unified Not

The following documents are required for issuing a power of attorney:

• passport of the owner and authorized person;
• documents for the apartment.

Sometimes additional documents may be required, such as a birth certificate, if the principal is a child.

The notary must indicate in the power of attorney:

• date and place of registration of the document;
• information about the owner and authorized person: full name, citizenship, place of residence, passport details;
• information about the property: address, footage, shares.
• validity period of the power of attorney.

In addition, additional information may be indicated, such as the amount of remuneration for services to a trustee.

How much does it cost to issue a power of attorney

The cost of a power of attorney includes the state duty for the service and amounts for services of a legal and technical nature, for example, analysis of submitted documents or production of documents, copies. The cost also depends on the type of power of attorney and the number of representatives.

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The cost of notary services is regulated by the city, prices may vary in different regions. You can get acquainted with the basic tariffs on the official website of the Notary Chamber of the city.

Validity and cancellation of the power of attorney

By law, a power of attorney is valid for a year, unless a specific period is specified in the document. If the power of attorney is issued to perform certain actions, then you need to specify the limited period of the document. For example, the sale of an apartment with the execution of all documents rarely takes more than two months.

A power of attorney that does not specify the date of issue of the document is not valid. It will not be possible to perform any actions with real estate under such a power of attorney, and such an attempt may be equated with fraud.

The owner can completely cancel the power of attorney, even if the validity period is still in order. To do this, you need to contact a notary and declare the revocation of the power of attorney.

A power of attorney may also become invalid, even if the validity period has not expired and the owner has not declared a revocation. For example, if one of the parties indicated in the power of attorney has died or been declared incompetent. Also, the power of attorney loses its legal force if the notary at the time of issuing the power of attorney did not have the right to certify documents.

Remember

1. A power of attorney for an apartment can be issued to any capable and adult person or organization.
2. A power of attorney may list several people as a trustee or trustee.
3. The power of attorney can be one-time, special or general.
4. Different types of power of attorney give different scope of powers.
5. If a power of attorney is issued for the sale of an apartment, it must be notarized.
6. To draw up a power of attorney, the presence of the owner is sufficient.
7. The text of the power of attorney must indicate: the date, validity of the document, full name, passport details of the owner and authorized representative, data on the apartment.
8. The powers of attorney must be clearly stated in the power of attorney.
9. The cost of a power of attorney depends on its type.
10. If the power of attorney does not contain a date, then its validity period is one year.
11. The power of attorney can be revoked ahead of time, for this you need to contact a notary.