North Dakota Code 35-03-03 – Power of attorney to execute mortgages – Requisites
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A power of attorney to execute a mortgage must be in writing subscribed, acknowledged or proved, certified, and recorded in like manner as powers of attorney for grants of real property.
Terms Used In North Dakota Code 35-03-03
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.