What Is Power of Attorney? Power of Attorney Definition
Power Of Attorney (PoA) can be defined as “It is a common civil law or mandate that authorizes a person’s on behalf for a specific lawful activity.”
With the power of attorney an individual permits, any other person to act on behalf of his/her to accomplish her/his lawful activity which may be Granter or Donor (of the power), Adviser.
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But the activities only can do referring the PoA ( Power of Attorney), as the power of attorney must be mentioned any specific project or job or maybe multiple.
Types of Power of Attorney
GENERAL PoA: The general power of attorney can be explained as allowing someone or an agent to accomplish multiple purposes which can be called a Broad authority power of attorney.
If general power of attorney is given to anyone, he/she can handle the buying/selling of real estate properties, financial transactions, Government or corporate dealing, etc on behalf.
What Is Special Power of Attorney or Limited Power of Attorney?
Special PoA: Special power of attorney or limited power of attorney is given to an agent or any person to accomplish any specific project, and it is for a limited period of time.
What Durable Power of Attorney?
Durable PoA: The durable power of attorney given to any agent or person to stay effective even when he/she is physically, mentally incapable, or inactive.
What Is Springing Power of Attorney?
Springing PoA: Spring power of attorney is done when a person wishes to transfer the rights after his/her inactive state. It is a contingent power of attorney that takes effect when you become incapacitated.
What Is Medical Power of Attorney?
Medical PoA: A medical power of attorney is made in case of any medical emergencies.
When a person faces emergency medical care or suffering any complicated diseases due to which the person may be incapable to take the decision, on the situation this person may choose an agent by a medical power of attorney.
So that the future direction can be taken care of by the person by his/her agent.