Georgia Durable Special Power of Attorney Granting Agent the Right to Execute Oil and Gas Leases, Attendant instruments, and Deal with Oil and Gas Properties
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How to fill out Durable Special Power Of Attorney Granting Agent The Right To Execute Oil And Gas Leases, Attendant Instruments, And Deal With Oil And Gas Properties?
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FAQ
Generally, there are two types of Powers of Attorney; a financial power of attorney and a power of attorney for healthcare/medical decisions. In Georgia, our code provides a standard form for a medical power of attorney called an ?Advance Directive for Healthcare?.
Does a Power of Attorney Need to be Recorded in Georgia? A POA should be notarized and witnessed by two adults, and the principal should keep the form in a safe place unless the authority needs to be used immediately. However, there is no need to record it in public records.
If an individual becomes incapacitated before they sign powers of attorney the only way another individual can attain the proper authority to access their information and handle their affairs is by filing a Petition for Guardianship/Conservatorship in the Probate Court where the individual lives.
In Georgia, power of attorney must meet certain basic requirements, including being signed by the principal, witnesses, and a notary public. There are standardized forms available for financial and health care powers of attorney.
A power of attorney allows an individual to manage the principal's financial and healthcare affairs while that person is still alive. Under Georgia law, when the person passes away, the economic power of attorney immediately ends, with or without will.
If there is no power of attorney, the person's nearest family member or friend will have the power to make medical decisions for them.
A Power of Attorney can be overridden by a court-appointed guardian or conservator and the grantor if they maintain decision-making capacity. In addition, a person with the overriding power of attorney can make decisions and take actions that may supersede those of the existing agent designated by the principal.
What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.