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A special power of attorney allows a person (the principal) to authorize another individual (the agent) to make legal decisions on their behalf. The agent can act on behalf of the principal only under specific, clearly defined circumstances.
What is the latest judgement on power of attorney?
On June 6, 2023, the Supreme Court of India delivered a landmark judgment in the case of Ghanshyam v. Yogendra Rathi on the scope and validity of power of attorney (POA) documents. The Court held that a POA or a Will cannot be recognized as title documents or documents conferring any right in any immovable property.
What is a special power of attorney in Texas?
This can be done by executing a formal written notice of revocation. The revocation must be communicated clearly to both the agent and any third parties who are aware of the SPAs existence to prevent any misunderstanding or continued reliance on the agents authority.
How do you supersede a power of attorney?
A court petition is necessary.
Can you verbally revoke a power of attorney?
Option 1: Speak to the principal If theyre of sound mind, the principal can override power of attorney verbally and select a new agent. Its also a good idea to have them complete a revocation of POA form so the decision is officially documented.
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What three decisions cannot be made by a legal power of attorney?
When someone makes you the agent in their power of attorney, you cannot: Write a will for them, nor can you edit their current will. Take money directly from their bank accounts. Make decisions after the person you are representing dies. Give away your role as agent in the power of attorney.
Related links
FINRA Investor Alert: What You Need to Know About
May 30, 2016 A POA is a powerful document that gives another individual control over the investors investment accounts, and thus finances. FINRA advises the
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