26-98 - Real property.
§ 26-98. Real property.
Unless the power of attorney otherwise provides, language in a power ofattorney granting general authority with respect to real property authorizesthe agent to:
1. Demand, buy, lease, receive, accept as a gift or as security for anextension of credit, or otherwise acquire or reject an interest in realproperty or a right incident to real property;
2. Sell; exchange; convey with or without covenants, representations, orwarranties; quitclaim; release; surrender; retain title for security;encumber; partition; consent to partitioning; subject to an easement orcovenant; subdivide; apply for zoning or other governmental permits; plat orconsent to platting; develop; grant an option concerning; lease; sublease;contribute to an entity in exchange for an interest in that entity; orotherwise grant or dispose of an interest in real property or a rightincident to real property;
3. Pledge or mortgage an interest in real property or right incident to realproperty as security to borrow money or pay, renew, or extend the time ofpayment of a debt of the principal or a debt guaranteed by the principal;
4. Release, assign, satisfy, or enforce by litigation or otherwise amortgage, deed of trust, conditional sale contract, encumbrance, lien, orother claim to real property that exists or is asserted;
5. Manage or conserve an interest in real property or a right incident toreal property owned or claimed to be owned by the principal, including:
a. Insuring against liability or casualty or other loss;
b. Obtaining or regaining possession of or protecting the interest or rightby litigation or otherwise;
c. Paying, assessing, compromising, or contesting taxes or assessments orapplying for and receiving refunds in connection with them; and
d. Purchasing supplies, hiring assistance or labor, and making repairs oralterations to the real property;
6. Use, develop, alter, replace, remove, erect, or install structures orother improvements upon real property in or incident to which the principalhas, or claims to have, an interest or right;
7. Participate in a reorganization with respect to real property or an entitythat owns an interest in or right incident to real property and receive,hold, and act with respect to stocks and bonds or other property received ina plan of reorganization, including:
a. Selling or otherwise disposing of them;
b. Exercising or selling an option, right of conversion, or similar rightwith respect to them; and
c. Exercising any voting rights in person or by proxy;
8. Change the form of title of an interest in or right incident to realproperty; and
9. Dedicate to public use, with or without consideration, easements or otherreal property in which the principal has, or claims to have, an interest.
(2010, cc. 455, 632.)