Power of Attorney

Power of Attorney

A power of attorney is a legal instrument enabling one person gives another person the authority to act on his or her behalf as his legal representative, and to make binding legal and financial decisions on his behalf.

Power of attorney can be of 2 types –

General Power of Attorney:

1. empowers with the right to carry out all legal acts without restricting it to a particular transaction or act,

2. Gives the agent very broad powers

Special Power of Attorney:

1. The authority is restricted to act only on certain matters or only a particular kind of transaction or to carry out a specific legal transaction for the Principal.

2. Power of attorney expires on the completion of the transaction

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