Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to:
(1) Demand, buy, lease, receive, accept as a gift or as security for an extension of credit or otherwise acquire or reject an interest in real property or a right incident to real property;
(2) Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property;
(3) Pledge or mortgage an interest in real property or right incident to real property as security to borrow money or pay, renew or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;
(4) Release, assign, satisfy or enforce by litigation or otherwise a mortgage, deed of trust, conditional sale contract, encumbrance, lien or other claim to real property which exists or is asserted;
(5) Manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including:
(A) Insuring against liability or casualty or other loss;
(B) Obtaining or regaining possession of or protecting the interest or right by litigation or otherwise;
(C) Paying, assessing, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with such taxes or assessments; and
(D) Purchasing supplies, hiring assistance or labor and making repairs or alterations to the real property;
(6) Use, develop, alter, replace, remove, erect or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;
(7) Participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold and act with respect to stocks and bonds or other property received in a plan of reorganization, including:
(A) Selling or otherwise disposing of such stocks, bonds or other property;
(B) Exercising or selling an option, right of conversion or similar right with respect to such stocks, bonds or other property; and
(C) Exercising any voting rights in person or by proxy;
(8) Change the form of title of an interest in or right incident to real property; and
(9) Dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest.
(P.A. 15-240, S. 27; P.A. 16-40, S. 9.)
History: P.A. 15-240 effective July 1, 2016; P.A. 16-40 changed effective date of P.A. 15-240, S. 27, from July 1, 2016, to October 1, 2016, effective May 27, 2016.