conveyance of real property power of attorney nc 2018

Give a copy of the revocation to any person that might deal with the person to whom you gave your power of attorney. While this will vary from one person to another, periods of one, two or three years are not uncommon on powers of attorney.ĥ) Never use a general power of attorney when a special one will do.Ħ) If you want to cancel or terminate a power of attorney before it expires, you can prepare and execute a Revocation of Power of Attorney. Here are some guidelines and precautions that will help prevent abuse:ġ) Never have a power of attorney unless you need one.Ģ) If you feel you might need a power of attorney, have one prepared but don't sign it until you need it.ģ) Always put an expiration date on your power of attorney never make a power of attorney that lasts indefinitely.Ĥ) Make sure your expiration date is for a fairly short period of time. There is no way to guarantee your power of attorney will not be misused.

WHAT STEPS CAN I TAKE TO PREVENT IMPROPER USE OF MY POWER OF ATTORNEY?Ī. Therefore, you must exercise great care in selecting the person to be your agent.ħ.

The important thing to remember is that you are going to be legally responsible for the acts of your agent. A power of attorney always has the potential for being a very helpful or a very dangerous document for those reasons.

A well‑meaning older person might give a power of attorney to a younger relative, only to discover that the relative squandered and spent the assets of the older person. A husband who just separated from his wife might use the power of attorney she gave him to clean out her individual bank account. But a power of attorney can be abused as well as used there can be disadvantages to having one as well as advantages. A power of attorney can be very useful if you have one in effect when you need it. ALL THIS SOUNDS LIKE A GOOD DEAL ‑ WHY DOESN'T EVERYONE HAVE A POWER OF ATTORNEY?Ī. In addition, there are times when a certain form of power of attorney is required and none other will be accepted ‑ an example is the special form of power of attorney used by the Internal Revenue Service when a person allows a friend or relative to cash an IRS refund check.Ħ. Thus, for example, a marriage ceremony or the execution of a will cannot be done by power of attorney. While a power of attorney will be accepted as valid for most purposes, in North Carolina there are some items that cannot be accomplished by using a power of attorney because these actions are so personal in nature that they cannot be delegated to another. ARE THERE ANY THINGS A POWER OF ATTORNEY CANNOT DO?Ī. Cash or deposit tax refund checks or transfer stocks and bonds.ĥ. Sign your name to a lease or an agreement to connect utilities, such as electricity, gas, oil or telephone service ħ. Ship or store your luggage and household goods Ħ. Admit your child to the hospital for needed medical care ĥ. Sign your paycheck or withdraw money from your bank account Ĥ. Thus, for example, you could prepare a special power of attorney that lets your designated agent:Ģ. You can use a special power of attorney to allow someone to do almost all legal actions that you can do yourself. WHAT ARE SOME OF THE THINGS A SPECIAL POWER OF ATTORNEY CAN DO?Ī. That way, the power of attorney will be no good after the expiration date that you set unless, of course, you renew it by preparing a new power of attorney.Ĥ. The best course is to set a date for the power of attorney to expire, and this can be written into the power of attorney. A power of attorney should never be made indefinite or permanent. The agent can, of course, be authorized to do more than one legal act in a single special power of attorney.ģ. A special (or limited) power of attorney lists a particular act that the agent is authorized to do and limits the agent to that act. A general power of attorney allows the person you name (or your agent) to do any and all things that you could legally do, from registering a car to selling a house. The two types are general and special powers of attorney. ARE THERE DIFFERENT KINDS OF POWERS OF ATTORNEY?Ī. It can create valid and legal debts in your name or it can authorize a person to pay off your debts.Ģ. It can also be used to sell or buy property. Thus, a power of attorney can be used to allow a friend to sell your car, to let your spouse ship your household goods or to authorize a relative to take your child to the hospital. A power of attorney is a document that allows someone else to act as your legal agent.

Conveyance of real property power of attorney nc 2018