An attorney-in-fact is someone authorized to act on another person's behalf via a power of attorney. Not necessarily a lawyer. Used when owners cannot appear in person for transaction signings.
Power of attorney documents specify the scope (limited to a specific transaction, or broader general powers) and duration. Commonly used in LA multifamily when owners are traveling, incapacitated, or otherwise unable to sign at closing.
For LA multifamily owners with trusts, out-of-state ownership, or incapacity concerns, establishing an attorney-in-fact in advance can prevent closing delays. Ensure POA documents satisfy California real estate transaction requirements and are properly notarized.
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