Investor Glossary-power of attorneyInvestor Glossary-power of attorneyInvestor Glossary-power of attorneyInvestor Glossary-power of attorneyInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Power Of Attorney

The HTML to link to this page
 

A power of attorney is a legal instrument used to delegate authority. Under power of attorney, a principal delegates authority to a trusted agent. While the power of attorney is in effect, the agent then has a fiduciary duty to the principal. The exact scope of authority is spelled out in the power of attorney document. Three types of power of attorney are known as durable, springing, and nondurable. A durable power of attorney is effective once executed and until revoked. A springing power of attorney goes into effect at some defined future time. For example, a medical power of attorney may come into effect as soon as a doctor certifies that the principal is incapacitated, enabling the agent to make medical care decisions. A nondurable power of attorney is finite, thus suitable for a specific purpose. For instance, many principals grant their real estate attorney nondurable power of attorney to handle a specific transaction closing. In New York, a power of attorney used in a real estate transaction must be filed with the County Clerk.



Rate this Power of Attorney definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: in escrow, irrevocable trust, FICO score, labor relations, required rate of return, current ratio, debt service coverage, margin rate, risk management, retained earnings, covered put, 1035 exchange, average price per share, phantom income, 144a, Key Rate Duration, implied volatility, quality assurance, cancelled check, reverse mortgage, stock market close, limit order, inflation, liquidity ratio, diluted share, command economy, option premium, EBITDA, ex-dividend, minority interest, FTSE, annual return, 401a, LIBOR, balance sheet, wholly-owned subsidiary, per diem, ex-dividend date, Zero Cost Collar, deferred revenue, stock split, 1031 exchange, VIX, real GDP, deferred tax, class C shares, open position, dividends payable, APR


Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use