POWER OF ATTORNEY

POWER OF ATTORNEY

Handing over control to someone without knowing the rules may hurt you. So there is need to understand how a Power of Attorney works.

A Power of Attorney is a legal document with which you authorize another person to act on your behalf.

Through it, that person can manage your property, sign documents, operate bank accounts or handle specific transactions as if you were present.

It is lawful and convenient but risky if not properly handled.

A Power of Attorney can be revocable or irrevocable. A revocable Power of Attorney allows you to withdraw or cancel the authority at any time.

To have legal effect, this cancellation must be done through a well drafted Deed of Revocation.

Once granted, an irrevocable Power of Attorney cannot be easily withdrawn, especially where it was given in exchange for money or something of value.

In such cases, the law treats it like a concluded transaction, meaning the giver loses control and flexibility.

This is why a Power of Attorney should be carefully prepared.

Whether revocable or irrevocable, its wording determines who controls your affairs, how far that control goes and how easily it can be stopped.

A poorly drafted Power of Attorney can hand over more power than you intended.

Before giving someone authority to act for you, ensure the document truly protects your interests.

For best results, get a Property and Business Lawyer.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls and Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com.