What does SPA mean in LAW & LEGAL
A Special Power of Attorney (SPA) is a legal document used to give an individual, or “the principalâ€, the authority to designate someone else to act on their behalf. This person designated by the principal is known as the attorney-in-fact or agent. SPA grants the attorney-in-fact specific rights and responsibilities, depending upon how its drafted.
SPA meaning in Law & Legal in Governmental
SPA mostly used in an acronym Law & Legal in Category Governmental that means Special Power of Attorney
Shorthand: SPA,
Full Form: Special Power of Attorney
For more information of "Special Power of Attorney", see the section below.
Essential Questions and Answers on Special Power of Attorney in "GOVERNMENTAL»LAW"
Is a Special Power of Attorney legally binding?
Yes, when properly executed according to state laws a Special Power of Attorney is legally binding.
Who can be appointed as an attorney-in-fact?
Anyone over 18 years old who isn't mentally incapacitated can be appointed as attorneys-in-fact.
Does an SPA need to be notarized?
Generally, yes, most states require that the document must be signed in front of a notary public in order for it to be valid. There may also be other requirements applicable to each state.
What powers are granted by an SPA?
Powers granted by an SPA depend on how it is written and what powers have been given to the attorney-in-fact by the principal. Some common powers include buying or selling property, managing investments, and executing documents on behalf of the principal.
How long does an SPA remain in effect?
The duration of an SPA depends on how it has been written; some are only valid for one specific act while others remain in effect until revoked by the principal or until a certain date is reached.
Final Words:
: A Special Power of Attorney can provide individuals with great flexibility and utility but care should be given when deciding who will serve as the attorney-in-fact and what rights they will have over a particular matter. It's important to note that state regulations as well as signing necessities vary so consulting with legal counsel will ensure compliance accordingly.
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