who is the executant in power of attorney

The Executant is the person that is giving away power to someone else. We can notarize an original POA by stating that we witnessed the executant sign it. For this to happen, the Executant has to attend our office with government-issued photo ID and sign in front of us. Some powers of attorney do not require witnesses, only a notary’s signature.

Full Answer

Who is the executor of a power of attorney?

 · The agent or attorney-in-fact. The agent – also called the attorney-in-fact – is the entity given the power to act on the principal’s behalf. Anyone who is at least 18 years old and deemed legally competent can be an agent. Certain financial institutions with …

Who is the principal of a power of attorney?

 · The person who is executing the POA is called the executant and the person to whom power is granted is called general power of attorney (GPA) holder or beneficiary. There are two kinds of POA. One is the GPA. It gives wide powers to an agent to act on behalf of the principal as detailed in the deed.

Who can be an agent for a power of attorney?

 · Power of attorney (POA) is a legal authorization that gives a designated person, termed the agent or attorney-in-fact, the power to act for another person, known as the principal. The agent may be...

Who are the other parties in a power of attorney?

 · The person who is executing the POA is called the executant and the person to whom power is granted is called general power of attorney (GPA) holder or beneficiary. There are two kinds of POA. One is the GPA. It gives wide powers to an agent to act on behalf of the principal as detailed in the deed.

What does signature of Executant mean?

Executant Signature of Attorney (Name, Title and Address of the Attorney) Attested. That it has been assured by the Guarantor and the Executant herein that it has legal sanction and competency to execute this Guarantee and that the same is not in abrogation of any law or management decision governing the Guarantor.

What is the person called who has power of attorney?

agentThe person named in a power of attorney to act on your behalf is commonly referred to as your "agent" or "attorney-in-fact." With a valid power of attorney, your agent can take any action permitted in the document. Often your agent must present the actual document to invoke the power.

How do I run a general power of attorney in India?

In any other case - Rs 100 Any POA executed outside India needs authentication. It has to be executed in the presence of certain designated officers - notary public, a court, consul or vice consul, or a representative of the Central Government.

Who can be given power of attorney in India?

'Power Of Attorney' is an authority given by an instrument by one person, called as the donor or principal, authorising another person, called donee or agent to act on his behalf. There may be possibility of giving 'Power Of Attorney' by two or more persons jointly to one or more persons.

What are the 3 types of power of attorney?

Different Types Of POAsSpecific Power Of Attorney. A specific power of attorney is the simplest power of attorney. ... General Power Of Attorney. A general power of attorney is used to give a very broad term of use to the attorney. ... Enduring Power Of Attorney. ... Durable Power Of Attorney.

What are the 3 power of attorney?

Generally speaking, there are three main types of POA: Ordinary power of attorney. Lasting power of attorney. Enduring power of attorney.

Who is the attorney holder?

The person who gives the power of attorney (POA) is known as the donor while the person who gets the POA is called the holder.

Is notarized power of attorney valid?

Notarization is one of the proper form of authenticating power of attorney in the eye of law and as such General power of attorney dated 28.08. 2008 is valid and properly ratified.

What is the validity of power of attorney in India?

General Power of Attorney (GPA) remains valid till the life of principal or attorney, within they lifetime, one can revoke the GPA at anytime. GPA can be executed with duration validity, For example: for a period of 1 year, 5 year or till the specific transaction or legal task of which GPA was executed.

Who is powerful police or lawyer?

Lawyers only have authority because of their exceptional legal expertise; they use their legal knowledge as a sword and attend court to protect and save their clients. In comparison to the police, lawyers do not influence outside of the courtroom and do not have the right to receive public salaries and benefits.

What is the validity of power of attorney?

Also note here that a PoA has to be registered at the Sub-Registrar's Office to get a legal validity. Another important thing to note here is that a PoA remains valid only till the life of the principal. Within their lifetime also, one can revoke the PoA.

How many types of power of attorney are there in India?

The 4 types of power of attorney are General Power of Attorney, Durable Power of Attorney, Special or Limited Power of Attorney and Springing Durable Power of Attorney.

What is the name of the person who is executing a POA?

The person for whom such an act is performed or is represented is called the principal. The person who is executing the POA is called the executant and the person to whom power is granted is called general power of attorney (GPA) holder or beneficiary. There are two kinds of POA.

What is POA in court?

According to the Power of Attorney Act 1882, a power of attorney ( POA) includes any instrument (not chargeable with a fee under a law relating to court fees) empowering a specified person to act for and in the name of the person executing it. A POA grants authority to a person to perform certain acts on behalf of another person. It means a person is authorising another person to do something on his behalf.

Which article of the Karnataka Stamp Act prescribes stamp duties?

Power of attorney attracts stamp duty which varies from State to State. Article 41 of the Karnataka Stamp Act prescribes the stamp duties.

What is POA proof?

It is presumed that every document purporting to be a POA, which has been executed before and authenticated by a notary public, is conclusive proof. Each page of the document notarised should bear the official stamp of the notary, disclosing his registration number, jurisdiction, and signature. Appropriate notary stamp has to be affixed.

What is POA in real estate?

A POA creates a special power of agency that entitles the holder to use the principal's name in the transaction entered into. Registration of this document is not compulsory. In case it is to be registered it should be presented at the sub-registrar's office with jurisdiction over the property referred to in the document.

Is a POA attested by two witnesses?

Attestation of a POA is not compulsory. However, in order to avoid any disputes, and to establish proof of genuineness it is advisable to get the document attested by two witnesses. Notarising a POA is as good as its registration.

Why does a power of attorney end?

A power of attorney can end for a number of reasons, such as when the principal dies, the principal revokes it, a court invalidates it, the principal divorces their spouse, who happens to be the agent, or the agent can no longer carry out the outlined responsibilities. Conventional POAs lapse when the creator becomes incapacitated.

When should a power of attorney be considered?

A power of attorney should be considered when planning for long-term care. There are different types of POAs that fall under either a general power of attorney or limited power of attorney . A general power of attorney acts on behalf of the principal in any and all matters, as allowed by the state.

What is a POA in a medical case?

Like the property deed for your house or car, a POA grants immense ownership authority and responsibility. It is literally a matter of life and death in the case of a medical POA. And you could find yourself facing financial privation or bankruptcy if you end up with a mishandled or abused durable POA. Therefore, you should choose your agent with the greatest of care to ensure your wishes are carried out to the greatest extent possible.

What is a POA in Ohio?

For instance, Ohio requires that any POA used to grant grandparents guardianship over a child must be filed with the juvenile court. It also requires a POA that transfers real estate to be recorded by the county in which the property is located.

Can a POA be broad?

A POA can be as broad or as limited as the principal wishes. However, each of the powers granted must be clear, even if the principal grants the agent "general power of attorney.". In other words, the principal cannot grant sweeping authority such as, “I delegate all things having to do with my life.”.

What is the name of the person who gives the POA?

The term for the person granting the POA is the "principal." The individual who receives the power of attorney is called either the "agent" or the "attorney-in-fact." Check whether your state requires that you use specific terminology.

Do you need to notarize a POA?

Many states require that the signature of the principal (the person who initiates the POA) be notarized. Some states also require that witnesses' signatures be notarized.

What is an executant in a power of attorney?

Executant means one or more individual (s), a sole proprietary firm or Hindu undivided family, a partnership firm or a limited company or limited li ability partnership, trust, society etc. whose name (s) and Address (s) is/are stated in the Schedule I executing this Power of Attorney as the Executant In favour of PNB Housing Finance Limited, a company incorporated under the provisions of the Companies Act, 1956 and having its registered office at 9th Floor, Antriksh Bhawan, 22 Kasturba Gandhi Marg, New Delhi (hereinafter referred as “ PNBHFL ”). Executant is hereinafter ( jointly) called the “ Borrower ”, which term shall, unless repugnant to the context hereof, include his/ her/their heirs, successors, administrators and assigns. The Term “Borrower” shall be construed accordingly. All capitalized terms used but not defined herein, shall have the same meaning as assigned to them in the Loan Agreement (defined hereinafter).

Who has full powers to execute a guarantee?

The guarantor hereby declares that it has power to execute this guarantee under its Memorandum and Articles of Association and the Executant has full powers to do so on its behalf under the power of Attorney dated granted to him by the proper authorities of Guarantor.

What is biological agent?

Biological agent shall mean any pathogenic (disease producing) micro-organism (s) and/or biologically produced toxin (s) (including genetically modified organisms and chemically synthesized toxins) which cause illness and/or death in humans, animals or plants.

What does executable mean in coding?

Executable means Covered Code in any form other than Source Code.

What is the difference between a power of attorney and an executor of a will?

The main difference between an agent with power of attorney and the executor of a will is that one represents a living person while they are alive, and the other represents a decedent’s estate while they are dead. The two do not intersect at any point. This effectively means that one person can fulfill both roles.

What is an executor of a will?

An executor is someone who oversees and administrates the process of fulfilling a will or trust, making sure your will is properly carried out after your passing. An executor’s job begins after you’ve passed away. Someone with a power of attorney gets to work while you are still alive, yet unable to make choices for yourself.

Who picks the executor of a will?

An executor is critical, and one will always be chosen by the probate court. The courts will usually choose whoever is listed as executor in the will, unless there’s clear evidence that they are not fit for the role. They can also refuse to take responsibility. In that case, the court will usually pick another relative.

What is the purpose of valuing and consolidating the decedent's assets?

Valuating and consolidating the decedent’s assets, in order to determine the estate’s full value.

What is the role of executor in probate?

Generally, an executor is in charge of the decedent’s will, representing the estate in the probate process, and taking on the responsibility of executing the will, and fulfilling a series of duties during the probate process, including: Kick-starting the probate process by ...

How to secure your estate after death?

You can secure your assets through trust agreements and a well-written will, but the management of your estate during and after your death will require the calm and experienced hand of a trusted friend or professional.

What is the fiduciary duty of an attorney?

Attorneys are bound by a fiduciary duty to act in the best interests of the estate. If an executor steals or fails to perform, it’s up to the estate’s beneficiaries to act quickly.

What is a power of attorney?

A power of attorney gives one or more persons the power to act on your behalf as your agent. The power may be limited to a particular activity, such as closing the sale of your home, or be general in its application. The power may give temporary or permanent authority to act on your behalf. The power may take effect immediately, or only upon ...

Why is a power of attorney important?

A power of attorney allows you to choose who will act for you and defines his or her authority and its limits, if any.

How long does a power of attorney last?

Today, most states permit a "durable" power of attorney that remains valid once signed until you die or revoke the document.

Do you have to check with a power of attorney if you own a vacation home?

If you own real estate, such as a vacation home, or valuable personal property, such as collectibles, in a second state, you should check with an attorney to make sure that your power of attorney properly covers such property.

Can an attorney in fact make gifts?

Gifts are an important tool for many estate plans, and your attorney-in-fact can make gifts on your behalf, subject to guidelines that you set forth in your power of attorney. For example, you may wish to permit your attorney-in-fact to make "annual exclusion" gifts (up to $14,000 in value per recipient per year in 2013) on your behalf ...

Can an attorney in fact change a will?

Although an agent cannot revise your will on your behalf, some jurisdictions permit an attorney-in- fact to create or amend trusts for you during your lifetime, or to transfer your assets to trusts you created. Even without amending your will or creating trusts, an agent can affect the outcome of how your assets are distributed by changing the ownership (title) to assets. It is prudent to include in the power of attorney a clear statement of whether you wish your agent to have these powers.

What to do if you are called upon to take action as someone's agent?

If you are ever called upon to take action as someone’s agent, you should consult with an attorney about actions you can and cannot take and whether there are any precautionary steps you should take to minimize the likelihood of someone challenging your actions.

What does a power of attorney do?

For the medical side, the person with the power-of-attorney designation can make important health-care decisions when you cannot. If you create what’s called a living will — which states your wishes if you are on life support or suffer from a terminal condition — this can help guide your proxy’s decision-making.

Who is the executor of an estate?

In addition to choosing an executor — the person who ensures your wishes are carried out and that your estate is settled — it’s wise to name decision-makers for your finances and health care if you cannot at any point prior to your death.

How many separate documents are needed for a power of attorney?

It’s worth drawing up two separate documents for powers of attorney: one for health-care decisions and the other for your finances. Many people end up naming separate individuals to serve in those roles.

Can a married couple name each other as executor?

Married couples generally name each other as executor . In those cases, be sure to consider the backup person carefully.

Is it worth naming a contingency executor?

Even if they accept, it’s worth naming a contingency executor (and getting that person’s OK, as well) in case the situation changes.

Who is in charge of a will?

First, the executor . The role of executor is a big job. This is the person in charge of everything from filing the will with the court to paying off your debts, closing accounts and making sure your remaining assets are distributed as specified in your will.

What is estate planning?

An estate plan — regardless of whether your assets are massive or meager — aims to ensure your wishes are carried out at death and to provide some guardrails for other end-of-life considerations.

What is a power of attorney?

Power of Attorneyis a legal document that gives an individual the authority to make decisions on behalf of someone else, often when the latter person has become incapacitated or is otherwise unable to make her own decisions. Someone with power of attorney is often referred to as the agent.

What are the different types of power of attorney?

There are a few different kinds of power of attorney. The two most common two varieties are general power of attorney and medical power of attorney. General power of attorney gives an agent the power to make a wide range of decisions on financial matters, business transactions, retirement accounts and more.

Who plays a key role in your affairs?

Your agent and your executor will play key roles in taking care of your affairs at the end of your life and beyond. Consequently, it’s paramount that you choose people who you trust and believe to be highly competent.

Who is in charge of probate?

The executor of an estateis the person in charge of managing the estate throughout the probate process. The probate processis the act of filing the deceased’s will with the appropriate probate court, locating and collecting all the assets, paying off all debts associated with the estate and distributing what’s left to the proper beneficiaries.

What is the difference between an executor and an agent?

Additionally, the job description for each role is slightly different, even though both deal with managing your affairs when you can’t. Your executor has a very specific and limited job to do: Making sure there’s enough money in your estate to pay off any debts and then channeling the rest to your heirs. Your agent, on the other hand, is more wide-ranging in their duties. The job could involve ruling on all kinds of decisions – financial, legal and medical – depending on what aspects of your life you’ve granted power of attorney over.

Can a power of attorney be durable?

Power of attorney can be either durable or springing. If you sign a document giving durable power of attorney, your agent can immediately start making decisions on your behalf. With springing power of attorney, your agent will assume authority only once certain conditions has been satisfied.

What are the roles of an estate planner?

Two of the most prominent of these roles are the executor of your estate and your agent with power of attorney. The two roles may be filled by the same person, but the roles themselves are very different.

Who is the grantor of a power of attorney?

The grantor is the individual who drafted and executed the power of attorney. Though this might seem to defeat the purpose of designating an agent to act on behalf of a grantor via a power of attorney, the typical grantor appreciates a third party taking the time to confirm the authenticity of a power of attorney.

What happens if a power of attorney is not authentic?

If a power of attorney does not appear authentic to you, and you cannot independently verify its authentic ity, do not transact business with the purported agent. If the power of attorney turns out to be fraudulent, you can be held liable for any losses sustained by the alleged grantor through the transaction.

Where to check power of attorney?

Check the power of attorney records at the register or recorder of deeds in the county where the individual who created the instrument resides. In some states a power of attorney can be filed with the register or recorder of deeds. However, this is not the common practice today.

How to verify a power of attorney?

Verify the authenticity of the power of attorney document presented to you. In many states, a power of attorney must be notarized. The presence of a notary's stamp and signature is usually enough evidence that the power is a legitimate document. If you're concerned, run an internet search for the notary and ask him or her to verify that the stamp on the document is the notary's official seal. Contacting witnesses is another avenue to explore. Often, powers of attorney bear the signature of an independent witness who watched the principal sign the power. See if you can contact the witness – the address should be written beneath the witness's signature – and ask if she remembers attending the signing.

Do you have to review the original power of attorney?

A duly authorized agent named in a power of attorney should have the original instrument in his or her possession. If you are being asked to take action by an individual contending he or she is an agent authorized to make decisions through a power of attorney, you must review the original instrument.

What does a third party need to know about a power of attorney?

A third party preparing to transact business or take action in reliance on a power of attorney needs to verify who really does have authority under such an instrument to make decisions for another person.

Do powers of attorney have to be signed by an independent witness?

Often, powers of attorney bear the signature of an independent witness who watched the principal sign the power. See if you can contact the witness – the address should be written beneath the witness's signature – and ask if she remembers attending the signing.