The granting of a Power of Attorney gives to the recipient the power to do all actions and things and to bind third parties just as if the original grantor of the Power of Attorney had entered into the Contract themselves.
There are many different forms of Powers of Attorney
However they fall into five main categories:
- Limited Power of Attorney (granted to allow limited transaction)
- Normal Power of Attorney (full transactional powers over the Grantor’s property/assets)
- Financial ( dealing only with financial matters)
- Health (dealing with health treatment and related issues)
- Enduring Power of Attorney (granted to act on behalf of incapacitated Grantor)
In Queensland, if any document signed under Power of Attorney is intended to be registered at the Department of Natural Resources (the Title Office) then the Original Power of Attorney must be registered at the Title Office.
There are a host of conditions surrounding each of these categories, which our experienced Solicitors can explain to you in detail.