A Missouri limited power of attorney is a legal document that appoints an agent to manage specific financial tasks on behalf of the principal, such as real estate transactions or temporary financial oversight during travel or military deployment.
This authorization is confined to particular actions or a set duration, expiring once the designated tasks are completed or at a predetermined end date. It’s commonly used to authorize representatives, like real estate attorneys, to handle property deals, ensuring the principal’s affairs are managed without their direct involvement.
Legal Considerations
Statute – Chapter 404 Transfers to Minors — Personal Custodian and Durable Power of Attorney
Authority – (V.A.M.S. 404.710) An attorney-in-fact, under a power of attorney, can act on behalf of the principal and exercise limited (special) authority as expressly granted by the agreement. Attorneys-in-fact can carry out any of the actions authorized by the limited power of attorney, but they cannot extend their actions outside the confines of the contract. (§ 404.710(6))
Signing Requirements – V.A.M.S. 404.705 – Notary public.
Related Forms
