What You Need to Know About Power of Attorney and Notary Signing?
Many people are unfamiliar with the process of obtaining a Power of Attorney. A Power of Attorney is a legal document that authorizes a person, called an “agent” or “attorney-in-fact”, to act on another person’s behalf in various situations. In order for this document to be valid, it must be signed by both parties and notarized by a licensed notary public. Let’s go over the basics of Power of Attorney and discuss what role the notary plays in the signing process.
Power Of Attorney Basics
In general, there are two types of Power of Attorneys—durable and non-durable. Durable Powers of Attorney remain in effect even if the principal (the person giving power) becomes incapacitated or mentally incompetent. Non-Durable Powers of Attorney are only valid until the principal becomes incapacitated or mentally incompetent. Both documents allow an agent to make decisions regarding financial matters related to taxes, investments, real estate transactions, banking transactions, etc., on behalf of the principal.
Notary Role in Signing Power of Attorney
For the document to be legally binding, it must be signed by both parties and witnessed by a notary public. A qualified notary public verifies the identities of both parties involved in signing the Power of Attorney document as well as witnesses their signatures and administers an oath that they are signing voluntarily and without coercion from any other person or party. The notary also ensures that all necessary information is included on the form such as date signed, names/addresses/phone numbers/signatures of all involved parties, etc., before officially certifying it with their seal. It is important that all information is accurate before signing so as to avoid any issues later on down the road should you need to use your Power of Attorney for any legal matters or disputes.
The role played by a licensed notary public in witnessing and verifying signatures for a Power of Attorney document is essential as it provides legal protection for both parties involved should any disputes arise in future legal matters or court cases involving either party’s signature(s). It’s important to understand how these documents work before entering into any agreement so that you can ensure your interests are protected throughout every step along the way. As always, we recommend consulting with an attorney who specializes in these types of agreements prior to making any decisions regarding them.