A Limited Power of Attorney (LPOA) is a legal document that allows one person to act on behalf of another in specific situations or for a limited time. Unlike a general power of attorney, which grants broad powers, an LPOA is tailored to particular tasks. This can be useful in various scenarios such as real estate transactions, financial matters, or healthcare decisions. Below are three diverse examples of Limited Power of Attorney templates to illustrate different contexts and their applications.
In the case of a real estate transaction, a Limited Power of Attorney can enable one party to handle the sale or purchase of a property on behalf of another. This is particularly useful when the property owner is unable to attend closing due to travel or health reasons.
LIMITED POWER OF ATTORNEY
I, [Principal's Name], residing at [Principal's Address], hereby appoint [Agent's Name], residing at [Agent's Address], as my true and lawful attorney-in-fact to act in my name and on my behalf for the following specific purpose:
To execute and deliver all documents necessary to facilitate the sale of my property located at [Property Address] including, but not limited to, the signing of the purchase and sale agreement, closing documents, and any required disclosures.
This Power of Attorney shall be effective from [Start Date] until [End Date] or until revoked by me in writing.
Signed this [Day] of [Month], [Year].
__________________________
[Principal's Signature]
Notes: Ensure that the agent is trustworthy, as they will have the authority to make significant decisions regarding the property.
A Medical Limited Power of Attorney allows someone to make healthcare decisions on behalf of another, particularly in situations where the principal is incapacitated and unable to communicate their wishes. This example is particularly applicable for someone undergoing a medical procedure.
LIMITED POWER OF ATTORNEY FOR HEALTHCARE
I, [Principal's Name], residing at [Principal's Address], hereby designate [Agent's Name], residing at [Agent's Address], as my attorney-in-fact for medical decisions.
This Power of Attorney is limited to the following circumstances: I authorize my agent to make decisions regarding my medical treatment and care during my hospitalization for the procedure scheduled on [Date]. My agent is empowered to discuss my condition with healthcare providers and to give or withhold consent for medical treatment as appropriate.
This authority shall remain in effect until I am able to make my own medical decisions or until revoked in writing.
Signed this [Day] of [Month], [Year].
__________________________
[Principal's Signature]
Notes: It is crucial to discuss your medical preferences with your appointed agent before the need arises.
A Financial Limited Power of Attorney is useful when an individual needs someone to manage specific financial matters, such as handling a bank account, paying bills, or making investments while they are away or unable to do so themselves.
LIMITED POWER OF ATTORNEY FOR FINANCIAL MATTERS
I, [Principal's Name], residing at [Principal's Address], hereby appoint [Agent's Name], residing at [Agent's Address], as my attorney-in-fact to manage my financial affairs.
This Power of Attorney is limited to the following specific actions:
- To access my bank accounts at [Bank Name] and withdraw funds as necessary to cover my bills.
- To pay my outstanding bills, including utilities, mortgage, and credit card payments.
- To make investment decisions on my behalf regarding my account with [Investment Firm Name].
This authority shall be effective from [Start Date] until [End Date] or until revoked by me in writing.
Signed this [Day] of [Month], [Year].
__________________________
[Principal's Signature]
Notes: It’s advisable to inform your financial institutions about this arrangement to avoid any complications.