Power of Attorney

The words Attorney and General power of attorney are commonly used in the property issues. The meaning of power of attorney, GPA and special power of attorney are same altogether. The agent who acts on behalf of the owner to look after all the transactions, business matters and all other financial matters is called as the power of attorney. There are two types of Attorneys…They are as follows:

1. General power of attorney(GPA)
2. Special power of attorney(SPA)

GPA: The agent who is declared as the power of attorney had all the rights to do all the transactions on behalf of the owner. How the matters are to be settled by the agent are to be clearly mentioned in the power of attorney. The powers like the purchase, sale and all other money transactions are given to the agent according to the power of attorney. The powers given to the agent are to be clearly mentioned in the power of attorney. It was against the law that if the agent performs the actions that are not mentioned in the power of attorney and in some cases he may be put in jail for such illegal actions.

Features of GPA:

• The owner had the right to declare anyone as his agent.
• The owner is responsible for the profit and loss though they are done by the agent because agent is acting on behalf of the owner but not the owner himself.
• The purpose of appointing the agent is to be clearly mentioned in the attorney.
• The agents had to take the receipt of all the transactions done by him and are to be deposited into the owners account.
• If the agent violates the rules of attorney he will be punishable according to the law.
• Owner had the right to cancel the attorney at any time but he had to inform that to the agent and the office in post.
• The agent had no right to question the owner regarding the cancel of attorney.
• Though it was mentioned that the power of attorney is not subjected to cancellation the owner had the right to cancel it any time.
• The validity of the attorney is to be known when the transaction are been done.
• The power of attorneys can be registered at any registration office in the country.
• If the owner dies then by the time of his death the power of attorney is cancelled.

SPA: The power given on a special cause is called as the special power of attorney. The agent is called as the special power agent .The work of the agent is mentioned clearly in the attorney. The SPA is cancelled when the work is completed by the agent that is assigned to him.