Minnesota Statutes 523.17 – Affidavit of Attorney-in-Fact as Conclusive Proof of Nontermination and Nonrevocation in Real Property Transactions
Subdivision 1.Form of affidavit.
An affidavit of nontermination or nonrevocation in support of a real property transaction may be substantially in the following form:
AFFIDAVIT BY ATTORNEY IN FACT
| STATE OF MINNESOTA | ) | |
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| COUNTY OF | ) |
Terms Used In Minnesota Statutes 523.17
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Grantor: The person who establishes a trust and places property into it.
- incapacity: means cause for appointment of a guardian or conservator of an adult under sections 524. See Minnesota Statutes 523.03
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- power of attorney: means a validly executed power of attorney. See Minnesota Statutes 523.03
- principal: includes a guardian or conservator appointed for the principal at any time; and
(3) "power of attorney" means a validly executed power of attorney. See Minnesota Statutes 523.03
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
……………………….., being first duly sworn on oath says that:
1. Affiant is the Attorney-in-Fact (or agent) named in that certain Power of Attorney dated ……………., …………, and filed for record ……………., …………, as Document No. ………… (or in Book …………… of ………… Page …………), in the Office of the (County Recorder) (Registrar of Titles) of ………………… County, Minnesota, executed by ……………………………………….. as Grantor and Principal, relating to real property in ……………………. County, Minnesota, legally described as follows:
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(If more space is needed, continue on back or on an attachment.)
2. Affiant does not have actual knowledge and has not received actual notice of the revocation or termination of the Power of Attorney by Grantor’s death, incapacity, incompetence, or otherwise, or notice of any facts indicating the same.
3. Affiant has examined the legal description(s) if any, attached to said Power of Attorney, and certifies that the description(s) has (have) not been changed, replaced, or amended subsequent to the signing of said Power of Attorney by the Principal.
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| , Affiant | ||
| Subscribed and sworn to before me | ||
| this ………………….. day of ……………. , ……….. | ||
| . | ||
| Notary Stamp or Seal | Signature of Notary Public or | |
| Other Official | ||
| This instrument was drafted by: | ||
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Subd. 2.Effect.
An affidavit by the attorney-in-fact under subdivision 1 is conclusive proof that the power of attorney has not terminated or been revoked, and that the powers granted extended to the property described in the power of attorney or any attachment to it, as of the time of the exercise of the power, as to any party relying on the affidavit except any party dealing directly with the attorney-in-fact who has actual knowledge that the power of attorney had terminated prior to the exercise of the power or actual notice of the revocation of the power of attorney or actual knowledge that the powers do not extend to the real property legally described in the power of attorney, including any attachment.
Subd. 3.Real property transactions on behalf of entities.
When the principal under a power of attorney in a real property transaction is a corporation, partnership, limited liability company, or trust, the provisions of section 507.24, subdivision 2, 508.48, or 508A.48, as appropriate, and of section 523.18 shall apply, and an affidavit under this section shall not be required.