Can’t be in Spain to arrange your legal affairs? Or prefer to have a professional company do all the work for you? Power of Attorney is the solution you’re looking for! In this post we are going to explain what a power of attorney is – let’s take a look!
Power of Attorney can prove very useful and is especially convenient for English speaking expatriates Spain. Many of our clients have found this service particularly helpful when selling Spanish property.
What exactly is a Power of Attorney?
Power of Attorney is a document which permits an individual to give authority to a third person, allowing them to carry out specific legal tasks for them. It is a form of delegation of legal authority, as a power of attorney carries out acts which have legal implications for the individual. A power of attorney is presented before a notary and is signed by all parties.
The notary will make a note at the bottom of the deed which states that you are fully aware of the contents of the Power of Attorney.
So, what do the contents of a Power of Attorney include?
The contents and authorities given in a Power of Attorney mandate will vary and depend on the legal act for which the document is required. The different types of situations that may require a power of attorney include property transactions, inheritance matters, NIEs, corporate transactions and much more.
Using a Power of Attorney for Conveyancing in Spain
In the conveyancing process, a power of attorney is usually given a broad range of powers. Authorities can range from closing bank accounts, setting up direct debits, paying taxes and representing the client on completion of the sale of a property.
With these powers, an attorney is able to carry out the entire conveyancing process on behalf of the client. Meaning an individual can sell property without having to be in Spain, this has proved very convenient for oversea property owners.
Not having to authorise each separate task saves a lot of time and effort. However, if you wanted to limit the extent of what a power of attorney can do, all you have to do is instruct the notary to do so.
Does the Power of Attorney include an expiry date?
The document does not usually contain an expiry date. As certain transactions can take longer than expected, it would be very time consuming to have to grant power of attorney again. Of course, you can have an expiry date included in the power of attorney if you wish.
5 ways a Power of Attorney is terminated in Spain
- If the Power of Attorney document contained an expiry date, it will be terminated upon that date.
- If a donor dies, the power of attorney is immediately revoked. (If this happens, and the transaction that the power of attorney was created for has not yet completed, the beneficiaries of the person that has died would need to grant a new power of attorney.)
- A power of attorney is also terminated in the case of insolvency.
- If the donor or attorney has a loss of capacity, it will also be revoked.
- Both parties can also terminate the agreement at any time by a Deed of Revocation at the notary.
What are the attorney’s responsibilities?
An attorney must follow the donors wishes very carefully. It is against the law for an attorney to act outside of the scope of the duties that were stated in the power of attorney. Any money that the attorney makes in their duty in this role must be paid to the donor.
And, what are the donor’s commitments?
The donor is responsible for all of the attorney’s acts and must fulfil any commitments that the attorney has made in their role (as long as they are in the attorney’s scope).
Over to you...
Now we have explained exactly what a Power of Attorney is and what they can do, we hope you understand the benefits of this service. Using a power of attorney can prove very convenient for expatriates in Spain, especially in the conveyancing process. We welcome any questions that you might have.
HomeFinance Spain and Power of Attorney
HomeFinance Spain offer our clients Power of Attorney services; we will arrange an appointment at the notary to get the document signed to begin the process.
Get in touch today by calling (0034) 96 682 11 72 or by filling in the contact form provided.