Agency in Missouri
From WFG Wiki
Revision as of 08:51, 6 August 2018 by Davidjenkins (talk | contribs) (Created page with "==Overview== Agency refers to the legal concept that one party may act as a representative on another's behalf and legally bind that other party based on their actions. This...")
Overview
Agency refers to the legal concept that one party may act as a representative on another's behalf and legally bind that other party based on their actions. This arises frequently in real estate in several different contexts.
- A title agency may bind a title insurance company when issuing policies.
- A real estate broker or sales agent acts on behalf of the seller and sometimes the buyers in a sale of real property.
- A power of attorney is used to delegate authority from a principal to their agent who is the attorney-in-fact.
- An attorney at law can represent and legally bind the parties they reprsent both in and outside of court.
