This Limited Power of Attorney form provides for a limited power of attorney for stock transactions only. It used by a shareholder to authorize another person to vote stock and to conduct other corporate powers. The document must be signed before two witnesses.
Limited Power Powers Within
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A Limited Power of Attorney can give someone the authority to sign a legal document for a specific transaction. For instance, a limited power of attorney may be used to enable a real estate agent to handle a closing on behalf of a buyer or seller who is far away.
Under a limited power of attorney agreement, the agent can only act and make decisions on specified activities, and only to the extent that the principal authorizes. A principal does not need to choose a lawyer to be their agent; attorney in fact differs from an attorney at law.
There are 3 types of PoA:Continuing PoA gives powers to deal with money and/or property.Welfare PoA gives powers to make decisions around health or personal welfare matters.Combined PoA gives continuing and welfare powers.
Limited powers of attorney are valid for no more than 90 days, except those used by lessors, which are good for periods up to one year.
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The person appointed in the power of attorney is called the agent. Limited Powers of Attorney — A limited power of attorney grants to the person only the powers defined in the document.Authority that requires specific and general grant of authority. In your power of attorney document, you could name the parcel of real estate and the powers you are granting the agent. Coagents are not required to act together unless you include that requirement in the Special Instructions.