The notarial power of attorney can prove to be of fundamental importance in real estate sales.
This happens when the selling party or the purchasing party involved in the real estate transaction cannot be physically present at the signing of the deeds for various reasons (health, work commitments, etc.).
It can also happen that both parties are absent (this can happen, for example, if the two parties live in a different country from the one in which the property is located).
In all these cases, the party who cannot be present at the signing will have to appoint a third party to act on his behalf.
Precisely because the role played by the delegated person is very delicate, a series of rather rigid formalities are required for the legal instrument of the notarial power of attorney to be valid and effective.
In fact, only a formally correct power of attorney will ensure that the deed of sale in which a third party intervened with his signature is fully effective.
But let's see in detail what the power of attorney is.
Elements of the notarial power of attorney for the sale of real estate
It is an act with which a person, the so-called represented person, gives another person, the so-called representative, the power to carry out one (special power of attorney) or more (general power of attorney) legal activities that produce effects on the represented person.
In real estate sales, the special power of attorney is used.
With it, the delegated person has the power to carry out a specific legal activity.
All the powers conferred on the representative must be listed precisely and in detail.
In this way, the powers of the delegated person are precisely determined to avoid disputes in the future that could invalidate the deeds of a sale.
The determination of the representative's powers is important in two respects:
validity of the real estate transaction
protection for the person represented so that he is not exposed to reckless actions of the delegated person.
Form of notarial power of attorney
The power of attorney must be in written form otherwise it will be null and void and therefore of no effect.
The power of attorney can be made by private deed authenticated by a notary or by public deed.
Usually the limits beyond which the representative does not have the right to go when conducting negotiations are determined in the power of attorney.
It must be drawn up by a notary, to whom the following must be provided:
identity documents of the person represented and the person represented
tax codes, cadastral data of the property
deed of provenance (deed of sale, inheritance or donation with which the current seller became the owner).
Costs of the notarial power of attorney
It is difficult to estimate costs exactly.
The drafting of the power of attorney, in fact, is not among the notarial activities that provide a fixed fee, and its cost usually remains at the discretion of the notary firm.
Generally speaking, it amounts to around 400 Euros to which registration costs and stamp duty must be added.
Revocation or modification of the notarial power of attorney
The notarial power of attorney can be modified or revoked at any time, unless these faculties have been explicitly provided for in the power of attorney itself.
For revocation or modification, it is necessary to contact the notary.
