Questions related to the content of powers of attorney and their possible need for notarization are among the most frequently asked. Therefore, in this article, we will try to answer them.
It has happened to almost anyone being unable to personally attend a transaction, or visit a municipal or state institution, bank, utility company, etc., either because they are abroad, due to illness, or simply due to commitments. In these situations, there arises the need for authorization. To grant someone you trust the right to represent you.
What is a power of attorney?
It is a written voluntary act by which one person authorizes another to perform expressly or generally specified actions on behalf of the authorizer.
Generally, these actions shall be to authorized person’s benefit and remain at his expense.
Due to the unilateral nature of authorization, the signature of the authorized person is not required when creating a power of attorney.
Types of Powers of Attorney
Any power of attorney may be executed as a durable or perpetual, single or multiple, sole or joint, express or general, or a combination thereof.
In explicit powers of attorney, specific rights are granted. A general power of attorney (which has gained popularity as a “general” power of attorney, although no such definition exists in law) gives a broader scope for representation.
This is not always appropriate, as the legislation often requires specific and explicit authorization. General powers of attorney also have another drawback – if there is a deterioration in the relationship between the authorizer and the authorized person, it creates a precondition for abuse.
It is important to know that in certain situations (real estate transactions, withdrawal of money from the bank, etc.), notarial attestation of the signature/content of the power of attorney is required. This is only done by a notary, before whom the authorizer personally signs. If you are abroad, these functions are performed by the consular service of Bulgaria in the respective country.
What does a power of attorney contain?
Every power of attorney must contain data about the authorizer and the authorized person, which identifies them. Its content must clearly and unambiguously indicate the will of the authorizer.
An inaccurately written power of attorney poses risks for the authorizer and is a prerequisite for abuse or the inability of the authorizer to exercise the rights granted to him.
Therefore, we at LegalMasters.bg assist citizens and companies in creating power of attorney texts. For this purpose, we have created a specific electronic service – “The preparation of a power of attorney text”.
Power of attorney prepared by us will serve before state authorities and institutions, before a notary for real estate transactions, or for ongoing commercial activities.
Dear clients, please note that the service does not include notarial attestation if required! This can only be done by a notary.
Why contact us?
- Power of attorney drafted by an attorney provides the highest level of protection for the rights of the authorizer and its successful use by the authorized person;
- The entire process of preparing the text is fast and online – communication with us and the provision of the service is electronic;
- We draft the power of attorney text according to the individual requirements of the authorizer and the applicable legal framework for each specific case;
The information provided by you for the execution of the service, including through communication by email and phone, is confidential. It is not subject to disclosure under the Attorney Act.
What does our commitment to you include?
- legal consultation regarding the requirements for the respective type of power of attorney according to the nature of the actions to be performed. For example, whether notarial attestation and/or other accompanying documents are needed;
- preparation and sending of the text of the completed power of attorney electronically – usually by email;
Our commitment does not include legal consultations for the transactions themselves or the correctness and advisability of the actions for which a power of attorney is drafted.
What expenses will you have in addition to the attorney’s fee?
For powers of attorney intended for the disposal of real estate and some state institutions, banks, etc., you will incur additional expenses for notarial attestation of the power of attorney and certification of additional declarations according to the specific case. You can calculate the eventual notarial fees in the Calculators section of the website.
Termination of the power of attorney
Power of attorney might be terminated by its withdrawal by the authorizer, if the authorized person refuses to perform it, if the term for which the power of attorney was authorized has expired, or upon the death of either party.
If you would like to withdraw a given power of attorney, our advice is to do so through a written statement to the relevant institution for which it was intended (bank, municipality, notary, etc.). By it, you inform them that you are withdrawing the granted rights and the authorized person no longer will have the right to represent you.
It is important to know that there are actions, which cannot be carried out by an authorized person. The reason is that they are strictly personal. Such actions include marriage; conclusion of an individual labour contract by an employee; will or revocation of such; acceptance or refusal of inheritance; exercise of marital and parental rights; adoption, etc.
For additional questions, consultations, and legal assistance, we are available at tel. 0893 050 449, email: contact@legalmasters.bg, or on our Facebook page.
To request the electronic service: Preparation of a power of attorney text