The power of attorney to sell a property is a fundamental legal document for anyone who wishes to delegate the sale of their property to a third party. This legal instrument is particularly useful in many situations, such as the inability of the owner to be present at the sale.
But what does a power of attorney to sell actually entail, what are the associated costs, and how can you obtain one?
Let’s discover all the details together, examining every aspect of this important notarial deed.
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What is a power of attorney to sell a property?
The power of attorney to sell is a notarial deed by which the owner of a property (called the principal) grants another person (called the agent) the power to sell the property in his name and on his behalf. This legal document must be drawn up and authenticated by a notary to be valid.
There are two main types of power of attorney to sell: the general power of attorney and the special power of attorney.
- general power of attorney: It gives the agent the power to perform various legal acts on behalf of the principal, not limited to the sale of a property. This type of power of attorney is broad and can include the management of other assets and rights of the principal.
- Special Power of Attorney: Limited to a specific transaction or a limited number of legal acts, such as the sale of a specific property. It is the most common type used in real estate transactions, as it clearly defines the scope of the agent’s action.
The power of attorney to sell must contain detailed information, such as the personal details of the principal and the agent, the precise description of the property, the selling price and any special conditions of the transaction.
Once drawn up and signed, the document must be registered with the competent Registry Office to have full legal validity.
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How much does the power of attorney to sell cost?
The cost of drawing up a power of attorney to sell can vary depending on several factors, including the notary’s fees and the specifics of the deed. Generally, notary fees in Italy for drawing up a power of attorney to sell can range between 200 and 500 euros. This cost includes:
- Notary’s fee: It varies according to the complexity of the act and the reputation of the professional.
- Registration fees: Necessary for the registration of the power of attorney at the Registry Office.
- Stamp duty: Applied to notarial documents, the amount of which may vary.
It is important to consider that, in addition to direct costs, there may be additional expenses related to any preliminary consultations or the preparation of additional documents.
To get a precise idea of the total costs, it is advisable to request a detailed estimate from your trusted notary.
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How do you get a power of attorney to sell?
To obtain a power of attorney to sell, you need to follow some basic steps:
- Choosing a notary: The first step is to select a trusted notary. If you do not have a notary, you can consult the list of notaries on the website of the National Council of Notaries. The notary will play a crucial role in drafting and authenticating the deed.
- Document preparation: You need to gather all the necessary documents, including:
- Property deed.
- Identity document of the principal and the agent.
- Tax code of both parties.
- Any additional certifications required by the notary.
- Drafting of the power of attorney: The notary will draw up the deed, ensuring that all the details are correct and that the mandate given is clear and precise. Information such as the data of the parties involved, the description of the property and the conditions of the sale will be included.
- Signing the deed: The principal must sign the power of attorney in the presence of the notary, who will authenticate the signature and register the deed. This step is crucial to give legal validity to the document.
- Delivery of the power of attorney: Once the deed is completed, the notary will deliver a copy of the power of attorney to the principal and the agent. This document will then be used by the agent to complete the sale of the property according to the established terms.
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Conclusion
A power of attorney to sell a property is a valuable legal tool that simplifies the selling process, especially in situations where the owner cannot be present.
Through this notarial deed, the principal can delegate the management of the sale to another person, ensuring that the operation is carried out in accordance with his instructions and in compliance with current regulations.
Considering the variable costs and the need to follow a well-defined procedure, it is essential to rely on a trusted notary to ensure that everything happens correctly and legally.