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3 result(s) displayed (1 - 3):

November 15, 2011

Limited Power of Attorney

A limited power of attorney is a legal form utilized to appoint an attorney-in-fact to engage in a specific transaction for a specific period of time. The attorney-in-fact is not authorized to perform any acts other than what is stated in the POA form.

A common use of limited power of attorney is to allow another person to engage in financial transactions. Examples could be letting a person manage checking and savings accounts by making deposits, transferring funds, or paying bills. Another use would be to authorize your agent to sell a car or piece of real estate.

Limited POA should not be confused with other types of forms such as durable power of attorney or general power of attorney. These kinds of POA forms grant broad powers that allow agents to conduct many kinds of transactions and have access to sensitive financial and healthcare information.

Real Estate Investing article on "Limited Power of Attorney "

November 01, 2011

Power of Attorney Form

A power of attorney form is used for all kinds of transactions that require one person to authorize another person to act as their agent. These forms are an essential component of estate planning, business operations, personal finance, and healthcare matters.

The kind of power of attorney form needed depends on what duties the agent is responsible for performing. For example, a limited power of attorney is used to provide agent privileges to do a specific task during a specific timeframe, while a durable power of attorney grants sweeping rights.

Two parties are involved with each type of POA. Principal refers to the person writing the document and Attorney-in-Fact refers to the person responsible for carrying out tasks. The attorney-in-fact doesn't have to be a lawyer. In fact, they are usually a spouse, relative, business partner, financial advisor, physician, or friend.

Real Estate Investing article on "Power of Attorney Form "

October 02, 2011

Limited Power of Attorney

A limited power of attorney is required to authorize a person to engage in specific types of transactions. These could range from handling personal finances to giving a contractor permission to make purchases for home construction or renovations.

Limited power of attorney is comprised of the Principal and Attorney-in-Fact. The person providing authorization is the Principal, while the attorney-in-fact is responsible for transactions outlined in the POA

The rights granted in limited power of attorney expire once the transaction is complete or on a specific date. For example, if a person is authorized to handle personal finances the POA expires on a date. If a person is selling a car or real estate, the POA expires when the sale is complete.

Real Estate Investing article on "Limited Power of Attorney "