Wednesday, 8 October 2014

Power of Attorney

Definition

According to the free online dictionary, a power of attorney is defined as:

" A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal."

Most of us come across powers of attorney when we buy or sell fixed property. Powers of attorney are also particularly useful for practical delegation, continuity planning in larger organisations and in cases of illness or incapacity.

Types of powers of attorney

As mentioned, powers of attorney are routinely granted to allow the agent to take care of various transactions for the principal. By nature and form this is essentially a written document which was previously subject to stamp duty (until the repeal of the Stamp Duty Act 77 of 1968 in 2009).

In addition, powers of attorney executed outside the Republic must be executed in the presence of a notary public. Depending on where it was executed, it must also be properly authenticated.

Where a power of attorney is to be used in property registrations, it must be registered in the Deeds Office, under the Deeds Registries Act 47 of 1937.

A power of attorney is generally terminated when the principal dies or becomes incapacitated. The principal can revoke the power of attorney at any time.

There are two kinds of powers of attorney: the general kind, in which the agent or attorney is given authority to act generally on behalf of the principal; or a special kind, in which in an agent is authorised to act and represent the principal in more specific transactions.

1. General Powers of Attorney

If you wish to authorise a third party to do things, sign documents or enter transactions or agreements on your behalf, then you may consider entering a general power of attorney. This allows the third party to authorise the transactions, agreements, or conduct various activities. A general power of attorney is wide and all-encompassing.

2. Special Power of Attorney

If a principal wishes to limit the agent's authority to a specific, identified activity, the special power of attorney should be used. An example could be when you instruct a conveyancer to pass transfer or register a mortgage bond over fixed property, or you appoint an attorney to represent you in court or you give your attorney power to sign documents on your behalf.

Article Credit:
Nicolene Schoeman, Schoeman Attorneys (Cape Town)
Kind Regards,

(mail sent from mobile)
EUGENE PRINSLOO
Partner

Meecham, Prinsloo & Associates
Paralegal Practitioners
Located on the South Coast, KZN
We offer professional assistance nationwide through a panel of expert service providers.

Call/SMS/Whats App 0813166983
BBM 288A44F5
BBM Channel PIN C00493F66
Email eugene@skuld.co.za
Fax 0862441324
Blog www.insolvencysa.blogspot.com

Websites:
www.skuld.co.za
www.nodebt.co.za
www.secondbonds.co.za
(Under Construction)


I am able to consult on the following matters:
GETTING RID OF DEBT
1) Insolvency applications.
2) Debt assessments.
3) Debt Review/Debt Counselling.
4) Debt Mediation in terms of the National Credit Act.
5) Removal of debt review, administration orders, and salary attachments/garnishee orders.
6) Credit profile clearance.
7) Any matter related to debt or debt collection where you feel you are being harassed or treated unfairly.
8) Tenant rights and eviction advice.

RENTAL MEDIATION
1) Landlord / Tenant Disputes
2) Blacklisting of bad payers
3) Credit Checks
4) Drafting of Agreements
5) Advice

ASSET PROTECTION
1) Trust registrations.
2) Business registrations.

ACQUIRING DEBT
1) Debt consolidation.
2) Buying a property, getting a home loan.
3) Second bonds.
4) Alternative property finance.
5) Advice on secured and unsecured debts. Short term loans.
6) Buying and financing a vehicle.

COLLECTING DEBT
When you are owed money, whether you are a person or business.
1) Debt collection for individuals.
2) Debt collection for business or Commercial debt collection.
3) Black listing or Default listing of debtors.
4) Debtors management.
5) Credit policy audits.
6) Debtor tracing.

CRIMINAL RECORDS
1) Verification of criminal records for employment or private use.
2) Removal of criminal records.


Disclaimer: Meecham & Prinsloo
Paralegal Practitioners cannot be held liable for any investment/legal decisions made based on the adv

What our clients say

What our clients say...

" you literally saved my life, I was paying more than R8000 per month on debt counselling, now more than 80 % is legally written off and the balance I can pay off at R1700 per month. Thank you, thank you, thank you"
Steven from Durban vgl

"For 3 years I have been under debt counselling and my debt just increased. In 90 days my debt was wiped out and I could make a fresh start. Thank you Eugene"
Louise from Kempton Park

"I had more than R300 000 in debt. Now I have zero"
Thato from Durban

"On debt review by debt kept increasing, now I have a consolidated reduced debt that I can settle in easy monthly installments.
JP Smit Kempton Park

"Ek het my huis en kar verloor en die bank het nog steeds betaling gesoek. Sekwestrasie het dit gestop"
Danie Pretoria