This is a written authorisation document where a person (Principal or Donor) confers authority to another person (Attorney, agent or Donee) to act on his behalf in matters of property, business affairs, financial and Banking transactions, legal matters etc.
This document empowers the Attorney to represent the principal in various matters when the latter is out of country or old and incapacitated or even otherwise not able to take care of ones property and finance etc.
Power of Attorney can either be in general or limited to a specified purpose. Where the principal is unable to attend various dealings, he appoints an Attorney to perform the required actions on his behalf.
Always grant power Attorney to a trusted aide or family member. This document can have negative consequences if the power is misused by the Attorney. Use this utility wisely. In India The Power Of Attorney Act, 1882, frameworks and guides this type of arrangement
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