Full question:
My mother lives in New Mexico and own real estate in Texas. She is 84 years old and wants me to take over selling her house in Texas and I live in Dallas, TX. Will a durable Power of Attorney be the form I need? She wants me to have business and medical Power of Attorney to conduct her affairs. Since she is a resident of New Mexico will a form from the state of New Mexico handle business and medical decisions in Texas? Please advise the correct POA and do I need to only get the form in New Mexico or do I need to get forms for Texas and New Mexico? Thanks?
- Category: Power of Attorney
- Date:
- State: New Mexico
Answer:
The terms of the power of attorney govern the extent of the agent's authority. A power of attorney may be limited so that it only authorizes action to be taken for a specific transaction(s) or for a specified time period. For example, a limited power of attorney for real estate may be used to handle a house sale only. A general power of attorney may be used to handle a house sale and other types of transactions as well. If it is durable, it means it will not be terminated by the principal's incapacity. A living will or medical power of attorney should be created to comply with the laws of the state of residence.
A power of attorney is governed by the law of the jurisdiction where the actions of the attorney-in-fact will be performed. Usually, 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.
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.