When You Need a Power of Attorney
A power of attorney (POA) allows someone you trust to act on your behalf in a real estate transaction when you cannot be physically present. In New York, this is common for absentee owners, elderly sellers, military personnel stationed elsewhere, and anyone who cannot attend the closing in person.
The POA must specifically authorize real estate transactions. A general financial POA may not be sufficient — many title companies require a POA that explicitly names the property and the type of transaction. Work with your attorney to ensure the document meets all requirements.
New York POA Requirements
New York has specific requirements for powers of attorney. The document must follow the New York Statutory Short Form Power of Attorney format (General Obligations Law §5-1501B), must be signed and notarized by the principal, and must be signed by the agent acknowledging their fiduciary obligations.
Some title companies require the POA to be recorded in the county where the property is located before closing. Others accept an unrecorded POA with verification. Ask your attorney and the title company about their specific requirements early in the process to avoid delays.
Tips for a Smooth Remote Closing
To ensure a smooth closing with a POA, prepare the document well before the closing date — at least two to three weeks in advance. Send it to the title company and buyer's attorney for review and approval. Have the original document available at closing (copies may not be accepted).
Consider granting the POA to your New York attorney, who is already involved in the transaction and understands the closing process. This is common practice and eliminates the need to find another trusted person in the area.