There are many uses of a power of attorney and a distinct difference between a general or ordinary power of attorney and a lasting power of attorney which is used for circumstances when mental incapacity is a likely possibility or a more permanent arrangement is needed.
As an example of thew widespread potential uses of a power of attorney and that such authority can be given for even the most important of transactions, it is perfectly acceptable for a formal transfer deed on sale or transfer of land to be signed by an attorney as long as the Land Registry's rules are satisfied and it is likely that a buyer's conveyancing solicitor will also want to be satisfied of the authenticity of the power of attorney arrangement. A power of attorney is commonly used when there is a foreign seller or the seller is away on business or otherwise unavailable or perhaps in a trust situation.
The Land Registry requirements relating to accepting a power of attorney are :
- the document must be correctly executed as a deed;
- the document must be in force at the date of the transfer; and
- the power must clearly and expressly give authority for selling the property.
If a power of attorney is over a year old, the buyer of a property can request evidence that it remains valid and has not been revoked.