What Is The Meaning Of General Power Of Attorney
The agent under a general poa agreement may be authorized to take care of issues such.
What is the meaning of general power of attorney. 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. Power can be given to the agent to do any and all acts the principal can perform. A general power of attorney is a legal document whereby one person called the principal gives another person called the agent or attorney in fact the power to manage the principal s assets and financial affairs while the principal is alive. A written document signed by a person giving another person the power to act in conducting the signer s business including signing papers checks title documents contracts handling bank accounts and other activities in the name of the person granting the power.
The person authorizing the other to act is the principal grantor or donor of the power. A general power of attorney acts on behalf of the principal in any and all matters as allowed by the state. Before we explain the difference between a general and a special power of attorney it s important to first cover what a power of attorney is.
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