An Iowa limited power of attorney is a legal instrument that allows a person (the principal) to designate another (the agent or attorney-in-fact) to perform specific tasks on their behalf, such as handling real estate transactions. This document clearly outlines the agent’s powers, ensuring they act within defined boundaries.
The powers are temporary, ceasing upon task completion, on a specified date, or through revocation by the principal. This ensures the principal retains control and limits the agent’s authority to the agreed-upon scope.
Legal Considerations
Statute – Chapter 1078 Uniform Power of Attorney Act
Authority – I.C.A. § 633B.201 – An agent appointed under a power of attorney is authorized to act on behalf of the principal and exercise limited (special) authority as explicitly granted by the agreement.
Signing Requirements – I.C.A. § 633B.105 – Notary public.
Related Forms
