Article Sphere Logo
 

Power Of Attorney Power Packs In A Paper

By Expert Author: Michael Colucci | Article Abstract
Word Count: 504 words | Views: 103 view(s)
The Power of Attorney is a legal document voluntarily entered into by two parties and duly certified by a notary public, usually a lawyer. The first and second party in the Power of Attorney are: the Principal and the Agent,respectively. In the power of attorney, the principal appoints the agent to perform a task in a legal capacity in his lieu.

The power of attorney empowers the agent to act upon any legal circumstance necessary of the principal, mostly if the latter cannot conduct with others, his legal affairs in person. This scenario happens in most cases, when the principal is gone from his domicile or away on a business trip for a lengthy period; or worse, if the principal is ill.

The power of attorney likens the agent as that of an employee as well as representative of the principal. Another popular term for the authorized agent in a power of attorney is Attorney-in-Fact.

The principal and agent who execute an agreement such as the power of attorney could either be an individual, partnership, or corporation. Both parties who execute the power of attorney should of course, possess legal capacity which means that parties must be 18 years of age or older and of normal mental capability.

When the principal authorize the agent in the power of attorney, the agent does act within the scope of the legal agreement. Therefore, the principal is also responsible for the acts that the agent entered into, in his behalf. In the exercise of the power of attorney, the agent is entitled to payment for services rendered and reimbursement for some of his expenses.

A most common use for the power of attorney is when the principal enters into a transaction such as the purchase of a real estate property. The agent, by virtue of the power of attorney, deals with the company, or owner of the property until the sale is consummated. Thus, the agent pays for and signs all the legal documents necessary (such as purchase application form, contract to sell, deed of restriction, etc.) for the business venture between the principal who is the buyer, and the property owner who is the seller.

Normally, the power of attorney is revocable or can be cancelled at any time. As such, the principal has only to accomplish the revocation of the power of attorney and again, have the cancellation duly certified by a notary public. The power of attorney also becomes null and void upon the death of the principal.

The role of the notary public in the power of attorney is vital and akin to a third force. The power of attorney becomes a legal instrument only if the notary public or solicitor, has certified the power of attorney to be so. The notary public then has to furnish copies of the notarized power of attorney to the concerned government agency that requires it. Thereafter, the power of attorney becomes a legal public document.
Michael Colucci

About the Author/Author Bio

Michael Colucci is a technical writer for Legal Forms Online - A site that offers a large selection of legal forms that can be downloaded.

Article Source: http://www.articlesphere.com/Article/Power-Of-Attorney-Power-Packs-In-A-Paper/20199

Article Submitted: 2006-04-10 | This Article has been viewed 103 times.

Rate Article

Related Videos

How to Execute Power of Attorney
How to Assign the Power of Attorney
Too Busy To Cook
Small Business Advice - 25 Legal Tips in 25 Minutes
Legal Advice: Judge or Jury
 

More "Legal" Related Articles

 
 

Listed below are more articles related to the above article from the "Legal" article category.

People interested in the above article "Power Of Attorney Power Packs In A Paper" are also interested in the related articles listed below:

 
A stokes interview happens primarily in marriage based immigration cases. Very often, U.S. Citizens sponsor their spouses for Permanent Residence to the United States. Upon submission of the documents, the USCIS office forwards an interview notice to the parties to come in for an interview. The interview letter from Immigration clearly describes the documents which the married couple has to get to the interview.
Conveyancing is the legal process of transferring ownership of a property from one person to another. People usually hire a conveyancing solicitor to facilitate this process. If you are the buyer, a solicitor will often act on behalf of the mortgage lender to check everything is in place before mortgage funds are released. If you are the seller, conveyancing involves the contract for sale, title deeds and searches.
In 2003, the Proceeds of Crime Act was designed to take money or assets from suspected criminals and to reinvest those proceeds into neighborhoods that have a high crime infestation. A lot of these neighbourhoods desperately need to have their community projects funded. This Act takes assets from drug dealers, tax evaders, frauds and mobsters alike.
You may have wondered what happens to the money that is proceeds of crime. This is not a United States question but a global one. But what exactly happens to these funds is the key question that many people have all over the world.
At some stage during our lives nearly all of us will have a dispute with our neighbours. It may be a disagreement over a boundary hedge, parking into the gateway, overhanging trees, music being played too loud (particularly if your neighbours didn't get an invite to the party!) or a whole host of either extremely significant or completely insignificant issues.
If you enjoy raw oysters, you should be aware of the risks as well as new regulations issued by the Food and Drug Administration that will make this delicacy more difficult to come by. You should also know that if a restaurant serves tainted oysters that result in your becoming ill or causes a death in your family, you may have the right to sue - and can get representation from a personal injury lawyer.
If you're looking for a reliable claims accident advice then 100 per centCompensation is the right company for you! Our accident claims solicitors provide advice for free. You only need to provide details concerning the accident and some personal info.
 
Article Directory Home All Categories Legal
 

Can't find what you're looking for? Try Google Search!
 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.

Afrikaans Albanian Arabic Belarusian Bulgarian Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish German English Estonian Filipino Finnish French Galician Greek Hebrew Hindi Hungarian Icelandic Indonesian Irish Italiano Japanese Korean Latvian Lithuanian Macedonian Malay Maltese Dutch Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Thai Turkish Ukrainian Vietnamese Welsh Yiddish