Last updated on Mar 25, 2026
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What is statement of authority
The Statement of Authority is a legal document used by entities in Colorado to designate authorized individuals to represent them in real property matters.
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Who needs statement of authority?
Explore how professionals across industries use pdfFiller.
Statement of authority is needed by:
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Business owners needing to appoint representatives for property transactions
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Real estate agents requiring authority to act on behalf of clients
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Legal professionals facilitating real property dealings
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Trustees managing trust properties
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Non-profit organizations appointing authorized signers
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Investors engaged in property investments
Comprehensive Guide to statement of authority
What is the Statement of Authority?
The Statement of Authority is a crucial legal document in Colorado's real estate transactions. This document designates authorized individuals to handle real property matters on behalf of an entity, ensuring that only specified persons have the legal authority to execute licenses and instruments related to real estate. According to Section 38-30-172, C.R.S., the Statement of Authority ensures compliance and clarity in real property transactions.
By designating authorized individuals, this form helps prevent unauthorized actions and mitigates potential legal risks associated with property management.
Purpose and Benefits of the Statement of Authority
Individuals and entities utilize the Statement of Authority for several reasons. One key advantage is that it allows authorized persons to execute necessary licenses and instruments on behalf of their organization, streamlining the process of managing real property. This document also reduces legal risks by establishing a clear authority structure.
Moreover, it enables effective management of property without requiring the direct involvement of all members, making it particularly useful for corporations, LLCs, and partnerships.
Who Needs the Statement of Authority?
The Statement of Authority is essential for various entities, including corporations, partnerships, and limited liability companies (LLCs). Situations where authority needs to be formally documented might include real estate transactions, legal filings, or contract agreements.
An 'Authorized Person' is someone the entity designates to act on its behalf, which can include executives, board members, or other representatives. Proper designation helps avoid complications in property management and ensures that legal actions are conducted by qualified individuals.
Key Features of the Statement of Authority
This form includes several key elements that facilitate its use:
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Fillable fields for entering the entity's details and information about the authorized persons.
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A notary section that includes the requirements for notarization.
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Signature lines for authorized individuals, along with optional limitations on their authority.
These features contribute to the proper execution and legal standing of the document.
How to Fill Out the Statement of Authority Online (Step-by-Step)
Completing the Statement of Authority online through pdfFiller is straightforward. Follow these steps:
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Access pdfFiller and locate the Statement of Authority form.
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Gather all necessary information, such as entity details and authorized persons' names.
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Fill out the form, ensuring accuracy in each field.
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Review the form to avoid common mistakes, such as missing signatures or notary sections.
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Submit the completed form as per your chosen method.
How to Sign or Notarize the Statement of Authority
Signing and notarizing the Statement of Authority is vital for its legality. You have options for a digital signature or a wet signature, depending on your preferences and the requirements of the involved parties.
Notarization ensures that the form is valid and legally binding, which is particularly important in real estate transactions. If you complete the form online, you can arrange for notarization through pdfFiller or other authorized services.
Submission Methods and Delivery of the Statement of Authority
Once the Statement of Authority is completed, it can be submitted in various ways:
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Online through the pdfFiller platform.
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By mail to the appropriate office.
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In person at designated locations.
Be sure to follow up on your submission with confirmation and tracking, and be aware of any potential fees associated with the submission process.
What Happens After You Submit the Statement of Authority?
After submitting the Statement of Authority, you can expect certain outcomes. Processing times may vary, so it's essential to check on the status of your submission regularly.
If any issues arise or if your application is rejected, the appropriate channels will typically provide guidance on how to rectify the situation.
Security and Compliance for the Statement of Authority
When handling the Statement of Authority and other sensitive documents, security and compliance are paramount. pdfFiller employs 256-bit encryption to protect user data, ensuring that your information remains confidential.
The platform is compliant with HIPAA and GDPR regulations, providing additional assurance that your legal documents are managed with the utmost care and responsibility.
Effortless Document Management with pdfFiller
pdfFiller simplifies the entire process for users managing their Statement of Authority. The platform offers easy editing, filling, and signing options, making it ideal for legal form management.
With a range of additional features designed to support document needs, pdfFiller streamlines the process, enabling users to complete their Statement of Authority quickly and effectively.
How to fill out the statement of authority
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1.Begin by accessing pdfFiller and searching for the Statement of Authority form in the template library.
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2.Open the form once you locate it, and familiarize yourself with the layout, including fillable fields and sections.
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3.Before filling in the form, gather necessary information such as the entity's details, authorized persons' names and positions, and any specific limitations on their authority.
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4.Start filling out the top section of the form with the entity's legal name, and ensure you input accurate contact information.
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5.Proceed to list the authorized persons by providing their full names and titles, making sure to clarify any limitations on their powers.
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6.Use pdfFiller's tools to add checkmarks in the relevant boxes, and make sure to complete any required fields marked clearly.
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7.Once all fields are filled, review your entries carefully to ensure accuracy and completeness.
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8.Utilize pdfFiller’s features to electronically sign the document or add designated signature lines for the authorized persons.
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9.Incorporate the notary section appropriately, and consider scheduling a notary appointment if required.
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10.Finally, save your completed form, and choose whether to download a copy for your records or submit it directly through pdfFiller.
Who is eligible to use the Statement of Authority?
Any entity conducting transactions affecting real property in Colorado can use this form, including businesses, trusts, and non-profit organizations.
Is notarization required for the Statement of Authority?
Yes, this form requires notarization to ensure the authenticity of signatures and authority granted.
How do I submit the Statement of Authority?
You may submit the completed form by mail or deliver it in person to the appropriate authority or institution involved in the property transaction.
What common mistakes should I avoid when filling out the form?
Ensure all required fields are completed, double-check names and titles for accuracy, and remember to notarize the document before submission to avoid processing delays.
What documents do I need to complete the Statement of Authority?
You will need the entity's details, the names and titles of authorized individuals, and possibly a copy of the entity's formation documents for reference.
How long does it take to process the Statement of Authority?
Processing times can vary based on the submission method; typically, allow a few business days for acknowledgment if submitted directly.
What is the primary purpose of the Statement of Authority?
The primary purpose is to designate specific individuals who are authorized to act on behalf of an entity in matters related to real property.
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