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Power of Attorney for Property Fill out the template

Power of Attorney for Property

Last revision
Last revision 20/01/2018
Formats
Formats Word and PDF
Size
Size 2 pages
Rating 4 - 1 vote
Fill out the template

About the template

Last revision: 20/01/2018

Size: 2 pages

Available formats: Word and PDF

Rating: 4 - 1 vote

Fill out the template

Power of Attorney for Property

A Continuing Power of Attorney for Property is a legal document in which a person (the "grantor") gives someone else the legal authority to make decisions about their finances. The person who is named as the attorney does not have to be a lawyer. The power of attorney is called "continuing" because it can be used after the person who gave it is no longer mentally capable to make the financial decisions themselves. Some people use the word "durable" or "enduring" which means the same as "continuing".

 

How to use this document

To make a valid power of attorney, the grantor must be 18 years of age or more and "mentally capable" of giving a continuing power of attorney for property. This means that the grantor:

  • knows what property they have and its approximate value;
  • is aware of their obligations to those people who depend on them financially;
  • knows what authority their attorney(s) will have;
  • knows that their attorney must account for all the decisions he or she makes about their property;
  • knows that, if they capable, they may cancel their power of attorney;
  • understands that unless their attorney manages the property prudently, its value may decline; and
  • understands that there is always the possibility that the attorney could misuse the authority.

 

Specifically in this document, the grantor will:

  • name one or more attorneys for property;
  • name a substitute attorney (if applicable);
  • state the event on which the power of attorney will become effective;
  • state any restriction to the authority of the attorney(s) for property;
  • state the compensation to be paid to the attorney(s).

The document must then be signed by two witnesses, in the presence of each other and the grantor.

 

Applicable Law

Alberta: Powers of Attorney Act (RSA 2000, c P-20)
British Columbia: Representation Agreement Act (RSBC 1996, c 405) and Power of Attorney Act (RSBC 1996, c 370)
Manitoba: Powers of Attorney Act (CCSM, c P97)
Northwest Territories: Powers of Attorney Act (SNWT 200, c 15)
Nunavut: Consolidation of Powers of Attorney Act (SNu 2005, c 9)
Ontario: Substitute Decisions Act (SO 1992, c 30)
New Brunswick: Property Act (RSNB 1973, c P-19)
Saskatchewan: Powers of Attorney Act (SS 2002, c P20.3)
Yukon: Enduring Power of Attorney Act (RSY 2002, c 73)

 

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