Concept in Definition ABC

The Power of Attorney it's a private type document, signed by a grantor and two witnesses, which keeps the appearance Y drafting of an informal letter and with a less formality than that of a power of attorney, through which the aforementioned grantor will empower to a certain person at the time of carrying out legal acts on his behalf, that is, he will assume in them the representation of the grantor.

Private document through which a person grants a power of attorney to another to represent him in some matters

As it is a use at the request of legal acts that present a small amount, the ratification of the signatures that appear at the bottom of the same will not be required.

In other words, the power of attorney is that document that allows a person to act on behalf of another person. In some way, it is about the delegation of the person who creates the aforementioned document or power of attorney, that is, the interested party, to that other person, who would be the representative, to whom he decides to grant nothing more and nothing less than his power at the time of act.

It is a private document, that is, it is extended between individuals to understand private matters.

Scope and applications

Depending on the situation and the grantor's requirements, the power of attorney may be general or, failing that, limited. The limited power of attorney will give the representative the authorization to act on behalf of the interested party only in those specific matters, which are specified therein. For example, an individual who receives property from inheritance He decides to lease it and then as he cannot take care of the collection of the rent he will issue a power of attorney authorizing his lawyer to collect the amount of the rent each month when appropriate.

And in the case of a general letter, the representative will act on behalf of the grantor in a variety of actions. For example, an individual inherits a company and since he cannot take care of the management of it because he lives in another country, he decides to make a power of attorney in favor of a friend his in addition confidence that he resides where the company so that he can take care of it in its entirety, that is, he can hire staff, buy supplies, sell furniture, among other issues inherent to his administration.

One of the most widespread uses of it is given at the request of collecting pensions or pensions. When the retiree is very old and his health does not allow him to travel to the financial institution where he collects his salaries monthly, it is usual for him to extend to a relative or trusted person a power of attorney so that he can do it in his Name.

Now, always, a legal procedure must be carried out beforehand in which the relationship between the person who gives the power and the one who receives it, and the consent of the retiree, is declared and attested.

Information that he must contain

Regardless of whether it is a limited or general power of attorney, it must contain the following information: name of the person who receives the power of attorney, specific statement describing the powers, obligations and responsibilities that the representative, declaration of the time during which he will receive the power of attorney, the signature of the grantor, which of course is what gives it absolute validity, the name of the institution or organization to which the power of attorney is addressed; The word grant should also be recorded in that part in which the powers that are assigned are described, a brief argument about the why this power of attorney is being issued, names and signatures of the witnesses and the date in case it has a defined period of duration and limited.

As the power of attorney can be done without the need for a notary to endorse the procedure, it will be essential that it be consulted always before a lawyer who can explain to the intervening parties its scope and also the validity it holds of according to the legislation current.

If the power of attorney is signed in front of a notary public, it will have a higher value than if it is signed and presented before the authority its competent assessment will be less than with the consent of a notary through.

On the other hand, the power granted through it may be temporary, that is, the period of time for which it will be given is defined, with an expiration date thereof. Or, on the contrary, it may not be indicated and for example it is a power of attorney that is granted indefinitely or until it is revoked.

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