a written document signed by a person giving another person the power to act in
conducting the signer's business, including signing papers, checks, title documents,
contracts, handling bank accounts and other activities in the name of the person
granting the power. The person receiving the power of attorney (the agent) is "attorney
in fact" for the person giving the power, and usually signs documents as "Melinda
Hubbard, attorney in fact for Guilda Giver. " There are two types of power of attorney
a) general power of attorney, which covers all activities, and b) special power
of attorney, which grants powers limited to specific matters, such as selling a
particular piece of real estate, handling some bank accounts or executing a limited
partnership agreement. A power of attorney may expire on a date stated in the document
or upon written cancellation. Usually the signer acknowledges before a notary public
that he/she executed the power, so that it is recordable if necessary, as in a real
estate transaction.
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