For a properly partitioned property, a copy of all documents related to ownership should be provided, such as deeds, Wills, and other agreements. Also, a property partition lawyer would ask to provide a copy of all expenses and income associated with the property.
Yes. The agent can manage and procure the insurance and other related things.
No. It is not. The agent will be liable only if a contract has specified so.
Yeah. It is possible. The agent can deposit funds, acquire a retirement plan, etc.
Yes, certain powers cannot be transferred through PoA. It includes Voting, bankruptcy, etc.
Property management takes responsibility for day-to-day activities, maintenance, maintaining of properties, security, etc. Property managers work for the property owner. They preserve the value of the property by generating income. The need for a property manager arises when the owner cannot manage all his rental property efficiently. It is in this situation; the role of property managers appears.
It is not a legal requirement. But it is always good to get legal advice to avoid confusion and errors.
Yes, it is possible to give Power of attorney to two or more at the same time. It is also possible to name a second agent to take over in certain circumstances.
It comes into effect immediately after the signing of it by the donor itself. It can also take into effect in future times. The period for a power of attorney will depend on the donor. It can be written to last either for a limited period or indefinite.