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The Michigan Sales form is an important document used in real estate transactions within the state. This form allows a seller to grant a Special Power of Attorney to an agent, empowering them to act on the seller's behalf during the closing process. It includes essential details such as the names and addresses of the parties involved, including the seller, the agent, and witnesses. The form outlines the agent's authority to perform various tasks necessary to complete the sale, such as signing documents, collecting funds, and executing contracts. Additionally, it requires a legal description of the property being sold. The document must be signed, witnessed, and notarized to ensure its validity. This form not only streamlines the closing process but also provides clarity and security for all parties involved.

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Prepared by, recording requested by and return to:

Name:

Company:

Address:

City:

State:Zip:

Phone:

Fax:

----------------------Above this Line for Official Use Only---------------------

SPECIAL POWER OF ATTORNEY

FOR CLOSING REAL ESTATE TRANSACTION

(Agent for Seller)

STATE OF MICHIGAN

COUNTY OF ____________

KNOW ALL MEN BY THESE PRESENT, THAT I ________________________,

whose address is ___________________________________, _______________ (City),

__________________ (State), ________ (Zip), desiring to execute a SPECIAL POWER

OF ATTORNEY, hereby appoint, ______________________________, of

____________________ County, Michigan, as my Attorney-in-Fact to act as follows,

GRANTING unto my Attorney-in-Fact full power to:

To do all things necessary to close on the sale of the property described below, commonly known as

____________________________________________ (address), with full power

and authority for me and in my name to execute any and all documents necessary to effect the sale, conveyance and settlement on said property to any person or persons of his choosing, including but not limited to, deeds, checks, receipts, releases, warranties, affidavits, contracts, addenda, settlement statements, loan commitments and disclosure statements, truth-in-lending statements, all forms of commercial papers, endorsements to checks, or the like, and any such other instrument or instruments in writing of whatever kind, character and nature as may be necessary to complete the sale, financing arrangements, and the settlement process. FURTHER GRANTING full power and authority to collect and receive any funds or proceeds of said sale in any manner which, in his sole discretion, he sees fit.

The legal description of the property is as follows, to-wit:

[INSERT DESCRIPTION OR ATTACH EXHIBIT]

I hereby ratify and confirm all that said attorney-in-fact shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.

All acts done by means of this power shall be done in my name, and all instruments and documents executed by my Attorney hereunder shall contain my name, followed by that of my attorney and the description "Attorney-in-Fact", excepting however any situation where local practice differs from the procedure set forth herein, in that event local practice may be followed. This SPECIAL POWER OF ATTORNEY shall be valid and may be relied upon by any third parties until such time as any revocation is recorded in the recorder's office of the county where the land is located.

DATED this the ________ day of ___________________, 20____.

________________________________

Signature

Print Name: ______________________

_______________________________

Witness

Print Name: _____________________

_______________________________

Witness

Print Name: _____________________

STATE OF MICHIGAN

COUNTY OF _________________

The foregoing instrument was acknowledged before me this

_____________________ (date) by

___________________________________________ (name of person acknowledged).

_____________________________

Notary Public

Printed Name: _________________

My Commission Expires:

____________________

Principal Name and Address

Attorney-in-Fact Name and Address

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➤ PDF File

Form Specifications

Fact Name Details
Document Purpose This form serves as a Special Power of Attorney specifically for closing real estate transactions in Michigan.
Governing Law The form is governed by the laws of the State of Michigan, particularly the Michigan Compiled Laws (MCL) related to powers of attorney.
Principal's Information The form requires the principal's name, address, city, state, and zip code, ensuring clear identification.
Attorney-in-Fact The individual designated as the Attorney-in-Fact must be a resident of Michigan and is granted extensive powers to act on behalf of the principal.
Property Description A detailed description of the property involved in the transaction is necessary, ensuring clarity in the legal authority granted.
Authority Granted The Attorney-in-Fact is authorized to execute various documents including deeds, contracts, and settlement statements, among others.
Revocation Process This Power of Attorney remains valid until a revocation is recorded in the appropriate county recorder's office.
Notary Requirement The form must be acknowledged by a notary public to ensure its legal enforceability.
Witnesses Two witnesses are required to sign the document, providing additional verification of the principal's intent.

Michigan Sales: Usage Guidelines

Filling out the Michigan Sales form requires careful attention to detail. This form will enable you to appoint an attorney-in-fact who will act on your behalf in a real estate transaction. Ensure that all information is accurate and complete to avoid any delays in the process.

  1. Begin by entering your name in the designated space for the person preparing the document.
  2. Fill in the name of your company, if applicable.
  3. Provide your complete address, including street address, city, state, and zip code.
  4. List your phone number and fax number, if available.
  5. In the section labeled "STATE OF MICHIGAN COUNTY OF ____________", write the name of the county where the transaction will take place.
  6. In the blank following "KNOW ALL MEN BY THESE PRESENT, THAT I", enter your name again.
  7. Next, fill in your address, including city, state, and zip code.
  8. Identify your attorney-in-fact by writing their name in the space provided.
  9. Indicate the county where your attorney-in-fact resides.
  10. Describe the property involved in the transaction by entering its common address.
  11. Provide the legal description of the property. You may insert this information directly or attach an exhibit if necessary.
  12. Sign and date the form in the designated area.
  13. Print your name below your signature.
  14. Two witnesses must sign the document. They should print their names below their signatures.
  15. Complete the notary section, which includes the date of acknowledgment and the name of the person being acknowledged.
  16. Finally, ensure that the notary public's printed name and commission expiration date are filled in.

Your Questions, Answered

What is the Michigan Sales form used for?

The Michigan Sales form is primarily used to grant a Special Power of Attorney for closing a real estate transaction. This allows an appointed agent to act on behalf of the seller, enabling them to execute necessary documents to finalize the sale of a property.

Who needs to fill out the Michigan Sales form?

The seller of the property needs to fill out the Michigan Sales form. If the seller cannot be present at the closing, they should appoint an agent to act on their behalf by completing this form.

What information is required on the form?

Key information includes the names and addresses of the seller and the appointed agent, the property’s legal description, and the seller’s signature. Additionally, witness signatures and notary acknowledgment are also needed to validate the document.

Can I use this form for any type of property sale?

Yes, the Michigan Sales form can be used for various types of real estate transactions, including residential and commercial properties. However, it's essential to ensure that all details specific to the property are accurately filled out.

How long is the Special Power of Attorney valid?

The Special Power of Attorney remains valid until it is revoked and that revocation is recorded in the county recorder's office where the property is located. Until then, third parties can rely on the authority granted in the form.

What happens if I change my mind after signing the form?

If you change your mind after signing, you can revoke the Special Power of Attorney. To do this, you must prepare a revocation document and record it in the appropriate county office where the original form was filed.

Do I need a lawyer to complete the Michigan Sales form?

While it's not mandatory to have a lawyer to complete the Michigan Sales form, it can be beneficial. A legal professional can ensure that all details are correct and that the form complies with state laws, helping to avoid any potential issues during the transaction.

Is notarization required for the Michigan Sales form?

Yes, notarization is required. The form must be acknowledged by a notary public to ensure its validity. This step helps confirm the identities of the parties involved and adds an extra layer of protection against fraud.

Common mistakes

  1. Incomplete Information: Failing to fill out all required fields can lead to delays. Each section, such as name, address, and phone number, must be completed accurately.

  2. Incorrect Signatures: Not having the proper signatures can invalidate the document. Ensure that all necessary parties sign the form, including witnesses and the notary.

  3. Missing Legal Description: Omitting the legal description of the property is a common error. Always include a complete and accurate description to avoid confusion later.

  4. Improper Notarization: Failing to have the document notarized correctly can cause issues. The notary must complete their section accurately, including their signature and commission expiration date.

  5. Ignoring Local Practices: Some areas may have specific requirements. Be aware of local practices that might differ from the general instructions provided in the form.

Documents used along the form

The Michigan Sales form is often accompanied by several other important documents that facilitate the real estate transaction process. Below are five commonly used forms and documents that work in conjunction with the Michigan Sales form.

  • Purchase Agreement: This document outlines the terms and conditions agreed upon by the buyer and seller. It includes details such as the purchase price, financing arrangements, and contingencies. The purchase agreement serves as a binding contract once signed by both parties.
  • Disclosure Statement: Sellers are required to provide a disclosure statement that informs buyers of any known issues with the property. This document helps buyers make informed decisions and protects sellers from future liability regarding undisclosed defects.
  • Title Commitment: This document is issued by a title company and outlines the terms under which they will insure the title to the property. It identifies any liens or encumbrances and ensures that the seller has the right to sell the property.
  • Closing Statement: Also known as a settlement statement, this document summarizes all financial transactions related to the sale. It details the final amounts due, including closing costs, and is reviewed and signed by both parties at closing.
  • Special Power of Attorney: In situations where the seller cannot be present at closing, this document allows a designated person to act on their behalf. It grants the attorney-in-fact the authority to sign necessary documents and complete the transaction.

These documents work together to ensure a smooth and legally compliant real estate transaction. Each plays a vital role in protecting the interests of both buyers and sellers throughout the process.

Similar forms

The Michigan Sales form, particularly the Special Power of Attorney for Closing Real Estate Transactions, shares similarities with several other legal documents. Here are ten documents that are comparable, along with explanations of how they relate:

  • General Power of Attorney: Like the Special Power of Attorney, this document allows one person to grant another the authority to act on their behalf. However, it is broader in scope, covering various matters beyond just real estate transactions.
  • Real Estate Purchase Agreement: This document outlines the terms of a property sale, including price and conditions. It often requires a power of attorney to facilitate the signing process when the seller cannot be present.
  • Quitclaim Deed: This is a legal instrument used to transfer interest in real property. It may be executed by an attorney-in-fact under the authority granted by a power of attorney.
  • Warranty Deed: Similar to a quitclaim deed, this document transfers property ownership but includes guarantees about the title. A power of attorney can enable someone to sign on behalf of the seller.
  • Closing Statement: This document summarizes the financial aspects of a real estate transaction. An attorney-in-fact may need to sign it to finalize the sale.
  • Affidavit of Title: This document is often required at closing to confirm ownership and disclose any liens. An attorney-in-fact can execute it if authorized by a power of attorney.
  • Loan Agreement: When financing is involved in a property sale, a loan agreement outlines the terms. An attorney-in-fact may sign this document on behalf of the borrower.
  • Disclosure Statements: These statements provide important information about the property, including any known issues. An attorney-in-fact can sign these documents to ensure compliance with state laws.
  • Settlement Statement (HUD-1): This document details all costs associated with the closing of a real estate transaction. It often requires signatures from both buyer and seller, which can be facilitated by a power of attorney.
  • Trust Agreement: In cases where property is held in trust, a power of attorney may be needed to manage transactions involving the property, similar to the authority granted in the Michigan Sales form.

Dos and Don'ts

When filling out the Michigan Sales form, there are important dos and don'ts to keep in mind. Follow these guidelines to ensure accuracy and compliance.

  • Do fill in all required fields completely and accurately.
  • Do ensure that the names and addresses are legible and correctly spelled.
  • Do provide a clear and complete legal description of the property.
  • Do have all signatories present when signing the document.
  • Don't leave any sections blank; incomplete forms may be rejected.
  • Don't use abbreviations or shorthand that could lead to confusion.

Misconceptions

Understanding the Michigan Sales form can be tricky, and there are several misconceptions that often arise. Here’s a list of nine common misunderstandings about this important document:

  • It's only for real estate transactions. While the Michigan Sales form is primarily used for real estate, it can also be applicable in various situations where a power of attorney is needed.
  • All signatures must be notarized. Only the signature of the person granting the power of attorney needs notarization. Witness signatures may also be required but do not need to be notarized.
  • You can’t change the appointed attorney-in-fact. You can change your attorney-in-fact at any time by revoking the previous power of attorney and creating a new one.
  • The form is only valid in Michigan. While the form is specific to Michigan, a properly executed power of attorney can be recognized in other states, depending on local laws.
  • Filling out the form is straightforward and doesn't require assistance. It’s often beneficial to consult with a professional when completing the form to ensure all necessary details are accurately provided.
  • Once signed, the power of attorney is permanent. The power of attorney remains valid until revoked or until the principal passes away.
  • Only one witness is needed. The form typically requires two witnesses to ensure its validity, though specific requirements can vary.
  • There are no limits to the powers granted. The powers granted can be tailored to specific needs, and the principal can specify any limitations within the document.
  • Using the form means you lose control over your property. The principal retains control and can revoke the power of attorney at any time, as long as they are competent to do so.

By understanding these misconceptions, you can navigate the Michigan Sales form more effectively and ensure that your real estate transactions proceed smoothly.

Key takeaways

The Michigan Sales form is a crucial document for executing a real estate transaction. Below are key takeaways for filling out and using this form effectively:

  • Accurate Information: Ensure that all fields, including names, addresses, and contact information, are filled out accurately to avoid delays or complications.
  • Power of Attorney: The form allows you to designate an Attorney-in-Fact who will have the authority to act on your behalf during the closing process.
  • Legal Description: Provide a complete legal description of the property. This is essential for clarity and to avoid any disputes regarding the property in question.
  • Witness Requirement: Two witnesses are required to sign the document, which adds a layer of validation to the transaction.
  • Notarization: The form must be acknowledged before a notary public, which is necessary for the document to be legally binding.
  • Revocation Clause: Be aware that the power of attorney remains valid until a revocation is recorded. Ensure any changes are documented appropriately.