What is required of a durable power of attorney that involves real estate transactions?
Whenever a principal designates another his agent by a power of attorney in writing and the writing contains the words:This power of attorney shall not be affected by disability of the principal. This power of attorney shall become effective upon the disability of the principal, or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding his disability, the authority of the attorney-in-fact or agent is exercisable by him as provided in the power on behalf of the principal notwithstanding:
(a) later disability or incapacity of the principal at law or later uncertainty as to whether the principal is dead or alive; or
(b) the lapse of time since the execution of the instrument, unless the instrument states a time of termination.
Such a power of attorney that involves real estate should give a correct description of the real estate and be filed in the land records of the county recorder's office.