Power of Attorney of Property

A legal document transferring the legal right to the attorney or agent to manage and access the principal's property in the event the principal is unable to do so themselves.

The power of attorney of property usually includes all assets held by the principal, such as real estate, bank accounts and stocks. The terms of the contract, including what can and cannot be managed, are determined at the time the contract is established.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Power of attorney — For the television program, see Power of Attorney (TV show). A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another s behalf in private affairs, business, or some other legal matter. The person… …   Wikipedia

  • power of attorney — A written instrument, known as a power of attorney, letter of attorney, or warrant of attorney, People v Smith, 112 Mich 192, 70 NW 466, by which one person, as principal, appoints another as his agent and confers upon him the authority to… …   Ballentine's law dictionary

  • Power Of Attorney — A legal document giving one person (called an agent or attorney in fact ) the power to act for another person (the principal). The agent can have broad legal authority or limited authority to make legal decisions about the principal s property… …   Investment dictionary

  • lasting power of attorney — A power of attorney governed by the Mental Capacity Act 2005. A lasting power of attorney can grant authority for the attorney to make decisions in relation to the donor s property and affairs, or in relation to the donor s personal welfare. A… …   Law dictionary

  • limited power of attorney — A power of attorney that gives the agent power to handle only a specified matter for example, to sign papers completing a single business transaction or property transfer. Compare: general power of attorney Category: Business, LLCs & Corporations …   Law dictionary

  • power — pow·er n 1: capability of acting or of producing an effect parties of unequal bargaining power 2 a: authority or capacity to act that is delegated by law or constitution often used in pl. commerce power often cap C&P: the power delegated to… …   Law dictionary

  • attorney — at·tor·ney /ə tər nē/ n pl neys [Anglo French atorné legal representative, from past participle of atorner to designate, appoint, from Old French, to prepare, arrange see attorn]: a person authorized to act on another s behalf; esp: lawyer see… …   Law dictionary

  • power — The right, ability, authority, or faculty of doing something. Authority to do any act which the grantor might himself lawfully perform. Porter v. Household Finance Corp. of Columbus, D.C.Ohio, 385 F.Supp. 336, 341. A power is an ability on the… …   Black's law dictionary

  • Attorney at law — An attorney at law (or attorney at law) in the United States is a practitioner in a court of law who is legally qualified to prosecute and defend actions in such court on the retainer of clients. Alternative terms include attorney and counselor… …   Wikipedia

  • Power of appointment — A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will.… …   Wikipedia

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