HOW TO GET POWER OF ATTORNEY IN NIGERIA
TYPES OF POWER OF ATTORNEY
Power of Attorney is a document or instrument, which authorizes or appoints a person to legally act and administer affairs on behalf of another. The parties in a Power of Attorney are referred to as Donor/Principal (the party who donates power to another) and a Donee or Agent (the party whose power is donated to). Power of Attorney (POA) can be granted by individuals and Corporations to an agent to perform functions, such as instituting an action in court, managing property, signing documents or receiving rents etc.
The words contained in a POA must be construed for the Donor to know exactly the power he wants to confer on another and what the limit of the power would be. A POA must be drafted to reflect the true intention of the Donor.
Revocation of a Power of Attorney
A power of attorney can be made orally or expressly stated in writing by a letter of appointment. Usually, POA must have an expiry date contained in the agreement; the Donor can revoke it, expressly, impliedly or by the operation of the law.
The modes of revoking a Power of Attorney
Power of Attorney can also be irrevocable where it is given for consideration. It cannot be affected by bankruptcy, insanity, death or lunacy until the consideration is extinguished. If it is granted for a defined period, it remains irrevocable until the period expires.
Types of Power of Attorney
There are two (2) types of POA which are determined by the amount of power granted by the principal to an agent.
Cost of Power of Attorney
Generally, the power of attorney does not have a fixed cost in Nigeria. It is all subject to the extent or contents to be contained in it. It is also subject to the experience of lawyers hired to draft the POA. The charges of one lawyer differs from another. An individual seeking to get a POA can contact any nearby professional lawyer or contact lawyers via online for a quotation.
In conclusion, the power of Attorney is an instrument that grants legal authority to another to act on his behalf for a certain purpose. It is important to bear in mind that only persons in law (those that can sue and be sued) can be granted power of attorney. Above all, it is generally advised that a professional lawyer should be conducted for advisory and drafting of a POA.
By Resolution Law Firm
Tel | WhatsApp |Telegram: +2348099223322