Power Of Attorney

The term Power of Attorney is often used by both learned men and laymen. But most times, the lay person is not abreast with what the power of attorney means.

In simple parlance, the power of attorney is the power given by the donor of the power to the donee who is his agent to do certain things which he ordinarily would have done by himself. There are certain reasons why people give out the powers of attorney to others: one reason is that the world we live is becoming increasingly complex so much so that it is no longer possible for one to do all he intends to do at the same.

Another thing is that one is limited by time and space. A person, who owns properties in Nigeria but resides the U.K. may used to issue or donate power of attorney to an agent (donee), who will have the power to deal with his property the way he wants the property to be death with.

Another reason is that one may not have the technical know-how to deal with a certain situation therefore he can donate power to another person that has the knowledge to manage the situation.

Incapacitation can also be a reason for donating a power of attorney to the donee. A person who by reason of infirmity or disease incapacitated from doing an act can donate a power of attorney to someone else to perform that act for him.

In a power of attorney the powers given to the donee are listed out and the donee can only act within the powers conferred him. This means that he cannot act outside the powers.

There are two types of power of attorney: revocable and irrevocable power of attorney. Revocable power of attorney as the name implies can be revoked by the donor for one reason or the other but an irrevocable power of attorney cannot be revoked until the period for which it was given lapses.

The irrevocable power of attorney is usually given for valuable consideration that is why it cannot be revoked until the period lapses.

The power of attorney is unilateral document given to the donee by the donor, it is executed when it is signed, sealed and delivered. Power of attorney also has space for a witness. Power of attorney intended to be used outside the country can be signed by a notary public.