Carl Glendon

Limited Power Of Attorney And A General Power Of Attorney – What Are The Differences?

A Power of Attorney (POA) is a legal document that gives authority to another individual, called attorney-in-fact, to act on behalf of a principal when the latter is incapacitated, unwilling or unable to act on his own. The power is applicable under various situations or to a specific transaction. Find out about the key differences between a Limited Power Of Attorney and a General Power of Attorney - two major forms of POA.

Powers

A Limited power of attorney authorizes a few acts or a specific act, frequently associated to a particular event. On the other hand, a general power of attorney covers various acts that might be performed by an attorney-in-fact on behalf of a principal. By nature, it is practically often unlimited.

Event of Activation

A general POA, in a few states, might also establish a specific date when it will come into effect. As a principal, you might wish for the POA to be effective sometime in the future - such as if you get mentally incapacitated. Such kinds of POA are often called Springing POA and are regarded as general, although their effective date limits them. A few states have assumed a uniform POA act that might make most springing POA documents invalid. With a limited POA, it is possible to specify the nature of those situations when it will become effectual.

Specificity

A General power of attorney might make a broad statement about transactions involving real estates. In contrast, a limited power of attorney is more specific in nature. A General POA can let an attorney-in-fact handle all the real estate transactions by mortgaging, leasing or selling on behalf of a principal. However, a Limited POA must mention the acts to be carried out - such as signing a deed or mortgage. It must depict the specific real estate parcel that is involved, generally with a legal description. To learn more about drafting a power of attorney form TN online, visit this website.

Expiration

A limited POA might even mention a date of expiration following which the attorney-in-fact might not act for you anymore. The authorities that are granted might be many or few in number, only limited by the date that is specified in the document.

Author Resource:-

Carl writes often about legal drafting, rental lease agreements, power of attorney form sand help the people in such needs. You can find his thoughts at power of attorney doc blog. For more information about getting a power of attorney form in Maryland, please visit this website.