Power of Attorney
A Power of Attorney is a legal document that allows you to appoint another person (the agent) to perform various legal and financial activities on behalf of the principle, such as entering into contracts, buying, selling, mortgaging and managing properties. There are two categories of Power of Attorney, namely a General Power of Attorney and a Special Power of Attorney. A General Power of Attorney allows an agent to perform a collection of specified acts on behalf of the principle, and unless the principle specified a determinable term for the validity of the Power of Attorney in the document, it normally only terminates on the death, insolvency, cancellation or mental incapacity of the principle. A Special Power of Attorney contains an authorisation to the agent’s to perform a specific act that the principle specifically identified. Once the specific act has been successfully executed, the Power Of Attorney lapses.
REQUIREMENTS FOR A VALID POWER OF ATTORNEY
A Power of Attorney has to be reduced to writing and be signed by the person issuing authority (the principle) to someone else (the agent). The Power of Attorney must clearly describe and identify the principle and agent as well as the extent of the powers granted to the agent. Although it is not peremptory, it is common practice to have the Power of Attorney witnessed by two witnesses above 14 years of age.
The exceptions to the two witness rule is where the Power of Attorney is signed either before a Commissioner of Oaths, a Magistrate or a Notary. Concerning property transactions, the originally signed Power of Attorney, accompanied by the relevant documents, must be registered in the Deeds Office, under the Deeds Registries Act 47 of 1937.
The Power of Attorney can be legalized for use in any country. Powers of Attorney executed outside South Africa for use in South Africa must be executed in the presence of a Notary and must also be sufficiently authenticated, depending on the country in which it is executed
Where to obtain the Power of Attorney
Obtaining a Power of Attorney requires adherence to specific legal requirements regarding documentation, capacity, and signing procedures. Consult with us to assist you in creating a valid and effective Power of Attorney. If a legal representative acts on your behalf overseas, they will provide you with the Power of Attorney.