This form is a simple model for a bill of sale for personal property used in connection with a business enterprise. Adapt to fit your circumstances.
Property Personal Sale With Power Of Attorney In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00167
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Executing a power of attorney under Utah law The power of attorney document must be signed by the principal before a notary public.
It must be in writing, signed and should be notarized, and, at the time of the change, the principal must understand that s/he is appointing an agent to handle his or her affairs.
A power of attorney gives one or more persons the power to act on your behalf as your agent. The power may be limited to a particular activity, such as closing the sale of your home, or be general in its application. The power may give temporary or permanent authority to act on your behalf.
Disadvantages of a Power of Attorney Potential for Misuse: The most significant risk associated with a POA is the potential for misuse by the appointed agent. Lack of Oversight: A POA grants considerable control to the agent without requiring oversight or approval from third parties.
What a power of attorney can't do Change a principal's will. Break their fiduciary duty to act in the principal's best interests. Make decisions on behalf of the principal after their death. (POA ends with the death of the principal. Change or transfer POA to someone else.
Because a power of attorney may grant very broad power over your property, including your bank accounts, we recommend that you consult a legal advisor, estate planner or other tax professional to see what's right for your situation.
It is commonly used for estate planning, medical management, financial management, and real estate transactions. A POA should be reviewed every few years for possible updates. It may become necessary to update a power of attorney when life situations change, a new agent is needed, or when there are changes in the law.
Any secure place can be used to store original legal documents. The trick is to let a trusted family member know where these documents are stored, and how to access them if need be. These documents can be stored in a safe or a locked file cabinet in your home or office.
Changing, revoking and terminating a power of attorney It must be in writing, signed and should be notarized, and, at the time of the change, the principal must understand that s/he is appointing an agent to handle his or her affairs.
