New York 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
A medical power of attorney, also called a durable power of attorney for health care, is a legal document. In it, you grant another person the authority to make medical decisions for you if you become unable to do so. The person you choose is your health care agent (health care proxy, health care surrogate).
New York's new POA law requires that the principal's signature be notarized in addition to the POA being signed with two witnesses present (note that the notary can be one of your witnesses).
How much does a Power of Attorney cost in NY? The cost of finding and hiring a lawyer to create a Power of Attorney could be between $200 and $500.
In New York, you must notarize the POA and also have it witnessed by two people who are not named in the POA as agents. The notary public can serve as a witness, so you might need to find only one more witness.
New York power of attorney requirements Be at least 18 years old. Have mental ?capacity,? meaning you have the ability to comprehend the nature and consequences of making a POA. Type or write your POA in a legible font. ... Sign and date your POA in the presence of two witnesses, and have it notarized.
However, a general power of attorney only operates while you are still coherent and mentally capable. It automatically expires upon incapacity or death. A durable power of attorney remains operational upon incapacity, although it expires upon death.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
For most people, the best option is to have a general durable power of attorney because it gives your agent broad powers that will remain in effect if you lose the ability to handle your own finances. An attorney can customize a general POA to limit powers even more?or add powers, Berkley says.