A Maine limited power of attorney is a legal document designed for specific situations or transactions. It grants someone else limited authority over one’s financial decisions and actions.
Unlike broader POAs, it confines the agent’s powers to designated activities, such as real estate dealings or handling certain financial tasks. The document details the agent’s permitted actions and sets boundaries to prevent overreach. It often includes a termination date or becomes void after the assigned tasks are completed, ensuring clarity and preventing disputes.
Legal Considerations
Statute – Maine Uniform Power of Attorney Act
Authority – 18-C M.R.S.A. § 5-931 – An agent under a power of attorney may act on behalf of the principal and exercise limited (special) authority as expressly granted by the agreement.
Signing Requirements – 18-C M.R.S.A. § 5-905 – Notary public.
Related Forms
