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 can be produced in Spanish, or in Spanish and English.
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.
It should be stressed that this is an important document and whilst effective for the processes it covers, whenever the document is no longer required, the best action is to then cancel the same.