This is the process whereby you nominate someone to transact on your behalf, for example to buy or sell houses, open bank accounts and sign documents.
This can be between partners and on a reciprocal basis, giving both equal rights to effect transactions on behalf of each other. Also, this can be arranged for a third party, meaning that the purchasers/sellers of properties do not need to be present at the Notary when the sale takes place.
Power of Attorney can be given to one or two persons, for example, meaning that if one person cannot attend the signing for a property, the second person can go in their place and both represent the original Buyer/Seller. Spanish Solutions can offer this type of representation.
The POA takes place in the Notary, in front of the people transferring powers and a translator. The document is produced in Spanish if signed for in Spain, or in Spanish and English, if signed for in Ireland or UK.
POA can be arranged with an expiry date, and after this date the document becomes invalid. This means that the person holding POA can only transact on behalf of the individual for a limited period. If POA is granted for an indefinite period of time, the same people have to return to the Notary when they desire to revoke the Power.
A client asked:
Hi, I wonder whether you would be able to answer a question for me please?
In 2012 a reciprocal POA was drawn up by a notary for myself and my husband. There is no expiration date.
My husband now says he has revoked the POA but I have not seen anything in writing. Would we not both have to go to the Notary in order to revoke it since its a reciprocal arrangement ?
The answer was:
POA can be revoked by one of them, so you don´t need both of them at the notary.
Anyway, although a POA in not officially revoked, you can not use it if you don´t have authorisation/instructions from that person.
If you have any specific concerns regarding Notary processes, or if you have a question regarding living here in Spain, please email them to enquiries@spanishsolutions.net or call directly 966 761 741