A power of attorney is a public document that a natural person or legal entity signs with the approval of a notary to designate another as their legal representative. In this way, it authorizes them to act on their behalf in various legal or material acts.
This measure is ****very useful for various life situations and more specifically for resolving some bureaucratic procedures in the business world.
With these documents, notaries guarantee that the identity of the person granting it, called the ***grantor, as well as their wishes, comply with the law. For their part, the person designated as legal representative or attorney-in-fact must ***prove this condition by presenting a copy of the authorization granted.
We differentiate between different types of powers of attorney:
General Powers:
These are deeds by which a person confers all possible powers to another to handle their entire estate. This type of power is characterized by very broad powers, which leads to risk.
Special Powers:
These are deeds by which a person confers powers to another to carry out one or more specific acts. This type of power is characterized by limited powers, for example, they may only buy, sell, make inheritances, etc.
Powers for Lawsuits:
This is a notarial document by which a person grants representation powers in legal proceedings to their lawyers and court representatives.
Travel Authorizations:
When minor children travel abroad without being accompanied by their parents or guardians, the trip can be authorized through this notarial document, which the minor must carry along with their ID card or passport.
Preventive Powers in Case of Incapacity:
These are powers in which a person confers powers to another to do whatever is necessary in case the person granting the power becomes incapacitated in the future. It is a very useful tool to avoid problems as one gets older.
Commercial Powers:
These are powers conferred by a company, through its administrator, in favor of a person who can thus handle one or more commercial operations on behalf of the company.
Required Documentation:
General Powers:
ID card of the grantors, name, address, and marital status.
If it is a company, valid powers of attorney or appointment of administrators.
Details of the attorneys-in-fact, name, address, marital status, and ID card.
Powers conferred (Purpose for which the power is granted).
Powers for Lawsuits:
ID card of the grantors, name, address, and marital status.
If it is a company, valid powers of attorney or appointment of administrators.
Names of the court representatives and lawyers and the Bar Association to which they belong. (Important.