@OK_I , having read through all the responses from @DoninGA , @Carl @Anonymous_ , @Critter , While I generally agree with the contentions and suggestions, I do not agree that a Power of Attorney is "useless". My position is , assuming that you are not just trying to shift income stream from US taxation, but have valid /legal reason in the jurisdiction where the property is located ( i.e. legal in that country ) for delegating your rights ( except for disposition i.e. ownership right) to another, it will be honored by the IRS -- absent a conflict with the tax treaty with that country . It really is no different than when one lets a friend/relative the use of the property that you own under a PoA or similar written agreement, if he then chooses to rent the property out and collect rent. You are not using the property as rental property and the income is not coming to you --- I am assuming here that this is all legally documented and you are not deriving any benefit in any form. Ditto for the case where I own blank land , gifts its use to a sharecropper (and he pays me nothing).
In all such cases the question is going to be motive-- why did you do it , how did you do it and did you receive any benefits from this transaction.
Therefore , I agree with all respondents, that you should consult a tax attorney both here and in the country where the property is located so that you do not run afoul of the laws in either jurisdiction.
pk
