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Power of Attorney

A power of attorney is a legal document authorizing a person to act on another's behalf in a business or legal matter.  The "principal" of the power of attorney gives the "attorney in fact" the power to act and provide legal signature on his behalf in a single or general instance(s) depending upon the authority granted in the power.  The former is usually called a "limited" or "special" power of attorney.  Often a power of attorney is used to complete a real estate transaction where one of the principals cannot be present.

The "attorney in fact" or agent has a fiduciary responsibility to the principal of the power of attorney and is required act in complete honesty and loyalty to the principal.

Although a power of attorney may be an oral agreement, it is common that a written document be produced.  A principal of law called the equal dignity rule requires that parties afford the attorney in fact the same formality as if he/she were the principal of the power.

A power of attorney normally is valid until the death or incapacitation of the principal.  It may be valid in spite of incapacitation but it must specify so in the agreement.  This is referred to as a durable power of attorney.  Durable powers of attorney are often used to appoint an individual to make health care decisions for another.

Another agreement called a "springing power of attorney" can provide that the power only becomes effective upon the happening of a specific event such as the incapacitation of the principal.  In this event, the power of attorney is invalid until and unless the principal becomes incapacitated.

The principal may revoke a power of attorney at any time unless the power states that it is irrevocable.  In that case the power will remain active until the death or incapacitation of one of the parties.

 

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Authorities Say Lee County Man Used Power Of Attorney To Steal From Parents ...
Naples Daily News Authorities say Lee County man used power of attorney to steal from parents Naples Daily News The couple signed a durable power of attorney document giving their son access to their finances. When Ryan sold their home in Alva, the 72,000 was supposed to be used for remodeling the North Avenue home and for his parents39 income and care. and more raquo

File A Power Of Attorney When Youaposre Still Healthy SavingAdvice.com
SavingAdvice.com File a Power of Attorney When You39re Still Healthy SavingAdvice.com You are vulnerable to a particularly scary type of abuse that can deprive you of control over your home, assets and personal freedom unless you file an often overlooked and misunderstood legal form called a power of attorney. You39re never too young

Thereaposs A Legal Way For Someone To Take Your Home, Your Stuff, And Your Mo...
Markets Insider There39s a legal way for someone to take your home, your stuff, and your money but everyone ignores the two Markets Insider A power of attorney form is a legal document that gives one or more people access to your financial accounts and the ability to make decisions with your money when you can39t. A health care directive does the same for medical decisions. Both forms

Living Will, Health Care Power Of Attorney Clinic At Watauga LIbrary Go Blue...
Go Blue Ridge Living Will, Health Care Power Of Attorney Clinic At Watauga LIbrary Go Blue Ridge You39re invited to free clinic on Living Wills and Health Care Power of Attorney. The Watauga County Public Library would like to invite you to join Legal Aid of N.C. for a free do it yourself Health Care Power Of Attorney / Living Will Clinic at 2:30 p

Immigrants Fearing Deportation Scramble To Set Up Power Of Attorney Protectio...
Immigrants fearing deportation scramble to set up power of attorney protection for families, property Dallas News blog Blas and others were waiting to speak with a lawyer inside the center to get help writing power of attorney and guardianship letters. Blas, an unauthorized immigrant living in Irving, said the letters would designate his sister in law as the legal

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Facts of Law on powers of attorney contracts

Facts of Law - Powers of Attorney