Which State Law Should a Power of Attorney Comply With if The Property is in Another State?

Full question:

I am seeking a Limited Power of Attorney for a Florida resident who will be refinancing property located in New York, the agent is the Principals daughter. I read on the web that the Limited Power would be permitted to designate property outside of Florida and I am looking for such a Limited Power of Attorney form. Thank you

Answer:

There is no generic form for use in all states that can be guaranteed to comply with the laws of all states, as statutes vary by state. A power of attorney that complies with the laws of the state may appoint a person who resides outside the state as the agent (attorney-in-fact) for the principal (person making the power of attorney). A power of attorney is governed by the law of the jurisdiction where the actions of the attorney-in-fact will be performed. Usuallly, this is where the property of the principal is located. It is generally not recommended to appoint an agent who resides in a different jurisdiction, unless the property or assets involved are also in the different jurisdiction. When the agent will be acting in more than one jurisdiction, separate powers of attorney for each jurisdiction are recommended. Therefore, if the person has assets in New York, or the agent may be conducting transactions with entities in Florida a power of attorney for New York or Florida may be advisable.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Generally, an out-of-state attorney cannot practice law in Florida without being licensed in the state. However, they may provide legal services in Florida under certain conditions, such as through temporary practice rules or by being associated with a Florida-licensed attorney. It's advisable for out-of-state attorneys to check the Florida Bar's regulations for specific guidelines.