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How Can Limited Power Of Attorney Forms Authorize Agents?

By Author: Carl Glendon
Total Articles: 61

A Limited Power of Attorney, also referred to as Special Power Of Attorney, is a legally binding document that provides a person with the authority to act on behalf of another individual – or the Principal – only in specific situations. Such cases can include only one particular transaction or a number of activities that are supposed to be executed by the person who is appointed by the principal as an agent. Find out how Limited Power of Attorney Free Legal Forms can help agents.

Handling property transactions

With this document, agents have the power to sell or buy titled properties belonging to the principal – such as an actual property in the form of land, house etc or a motor vehicle. They can also sell personal properties such as artwork, jewelry, collectibles etc. An agent is specifically named to deal with various real estate transactions on behalf of the principal. Please visit this site to get a sample power of attorney form in Maryland.

Dealing with personal finances

They can also manage the bank accounts and cash of the principal, and collect debts that are owed to the individual (principal). However, the role is limited by the document. For example, the principal offers permission to the agent to serve as their representative for a particular time period during which he or she stays out of the country. The agent is responsible for managing business interests or financial investments during the absence of the principal.

Acting as a mediator

This document also authorizes agents to interact with government agencies for Medicare, Internal Revenue Service, Social Security Disability etc with government agencies. Until the document terminates their privileges, agents can carry on with their tasks.

Author Resource:-

Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. You can find his thoughts at power of attorney form blog. To learn more about drafting a power of attorney form in Ohio online, visit this website.

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