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Attorney-In-Fact
An attorney-in-fact refers to a party who has been granted authority to act for another under an executed power of attorney legal arrangement.
While this person is often a qualified lawyer, there is no legal requirement for an attorney-in-fact to possess such qualifications.
An attorney-in-fact could very well be a regular person who is disinterested but competent to execute his or her role.
In matters related to real estate, an attorney in fact can only be valid via a written and notarized document that is the power of attorney.
While a person who has been given such powers by someone else can have a wide range of control, sometimes they are only granted limited authority in very specific matter.
These details would be stated in the document.
This person should also act in the principal’s interest. Otherwise, a court might void the relationship between them.
This is to protect the interest of principals who no longer have the capacity to make logical and prudent decisions for himself.
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