Sec. 1-44. Real estate transactions.
Sec. 1-44. Real estate transactions. In a statutory short form power of attorney,
the language conferring general authority with respect to real estate transactions shall
be construed to mean that the principal authorizes the agent: (1) To accept as a gift, or
as security for a loan, to reject, to demand, to buy, to lease, to receive, or otherwise to
acquire either ownership or possession of any estate or interest in land; (2) to sell, to
exchange, to convey either with or without covenants, to quit claim, to release, to surrender, to mortgage, to encumber, to partition or to consent to the partitioning, to revoke,
create or modify a trust, to grant options concerning, to lease or to sublet, or otherwise
to dispose of, any estate or interest in land; (3) to release in whole or in part, to assign
the whole or a part of, to satisfy in whole or in part, and to enforce by action, proceeding
or otherwise, any mortgage, encumbrance, lien or other claim to land which exists, or
is claimed to exist, in favor of the principal; (4) to do any act of management or of
conservation with respect to any estate or interest in land owned, or claimed to be owned,
by the principal, including, but not limited to, power to insure against any casualty,
liability or loss, to obtain or to regain possession or to protect such estate or interest by
action, proceeding or otherwise, to pay, to compromise or to contest taxes or assessments, to apply for refunds in connection therewith, to purchase supplies, to hire assistance or labor and to make repairs or alterations in the structures or lands; (5) to utilize
in any way, to develop, to modify, to alter, to replace, to remove, to erect or to install
structures or other improvements upon any land in which the principal has, or claims
to have, any estate or interest; (6) to demand, to receive, to obtain by action, proceeding
or otherwise, any money or other thing of value to which the principal is, or may become,
or may claim to be, entitled as the proceeds of an interest in land or of one or more of
the transactions enumerated in this section, to conserve, to invest, to disburse or to utilize
anything so received for purposes enumerated in this section, and to be reimbursed for
any expenditures properly made by him in the execution of the powers conferred on
him by the statutory short form power of attorney; (7) to participate in any reorganization
with respect to real property and to receive and to hold any shares of stock or instrument
of similar character received in accordance with such plan of reorganization, and to act
with respect thereto, including, but not limited to, power to sell or otherwise to dispose
of such shares, or any of them, to exercise or to sell any option, conversion or similar
right with respect thereto, and to vote thereon in person or by the granting of a proxy;
(8) to agree and to contract, in any manner, and with any person and on any terms, which
the agent may select, for the accomplishment of any of the purposes enumerated in this
section, and to perform, to rescind, to reform, to release or to modify any such agreement
or contract or any other similar agreement or contract made by or on behalf of the
principal; (9) to execute, to acknowledge, to seal and to deliver any deed, revocation,
declaration or modification of trust, mortgage, lease, notice, check or other instrument
which the agent may think useful for the accomplishment of any of the purposes enumerated in this section; (10) to prosecute, to defend, to submit to arbitration, to settle, and
to propose or to accept a compromise with respect to, any claim existing in favor of, or
against, the principal based on or involving any real estate transaction or to intervene
in any action or proceeding relating thereto; (11) to hire, to discharge, and to compensate
any attorney, accountant, expert witness or other assistant or assistants when the agent
deems such action to be desirable for the proper execution by him of any of the powers
described in this section, and for the keeping of needed records thereof; and (12) in
general, and in addition to all the specific acts in this section enumerated, to do any
other act or acts, which the principal can do through an agent, with respect to any estate
or interest in land. All powers described in this section shall be exercisable equally with
respect to any estate or interest in land owned by the principal at the giving of the power
of attorney or thereafter acquired, and whether located in the state of Connecticut or
elsewhere.
(February, 1965, P.A. 573, S. 3.)