Principal Power of Attorney
Principal Power of Attorney
This Power of Attorney is hereby executed by [Your Name], hereinafter referred to as the "Principal," in favor of [Agent's Name], hereinafter referred to as the "Agent," to grant the Agent the authority to act on behalf of the Principal in various legal, financial, and other specified matters as delineated herein.
Roles and Responsibilities Transferred to the Agent
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Property Management: The Agent is authorized to manage, lease, sell, or otherwise deal with any real or personal property owned by the Principal, including executing contracts, deeds, leases, and other related documents.
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Financial Transactions: The Agent shall have full authority to conduct financial transactions on behalf of the Principal, including but not limited to opening and closing bank accounts, accessing safe deposit boxes, managing investments, and conducting business with financial institutions.
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Legal Proceedings: The Agent is empowered to initiate, defend, settle, or compromise any legal proceedings or claims involving the Principal, including hiring legal counsel, filing lawsuits, and entering into settlements or agreements.
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Healthcare and Medical Decisions: The Agent shall have the authority to make healthcare decisions for the Principal, including consenting to medical treatment, accessing medical records, and communicating with healthcare providers by applicable laws and regulations.
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Business Affairs: The Agent is authorized to manage and conduct all business affairs of the Principal, including operating businesses, entering into contracts, and representing the Principal in business negotiations and transactions.
Signature Section
The Agent accepts the responsibilities outlined in this Power of Attorney and agrees to act in the best interests of the Principal.
Principal:
[YOUR NAME]
Agent:
[AGENT'S NAME]
WITNESS ACKNOWLEDGEMENT
We, the undersigned witnesses, hereby acknowledge that the above-named Principal has signed this Power of Attorney in our presence on the date stated above.
Witness 1:
[Witness 1 full name]
[Date]
Witness 2:
[Witness 2 full name]
[Date]
NOTARY ACKNOWLEDGEMENT
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [Your Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[Notary Public's Name]
My Commission Expires:
