A New Jersey limited power of attorney form is used to authorize an agent to act on the principal’s behalf for specific actions, such as executing legal documents, transferring property, managing financial accounts, making investments, and completing payments. The agent’s powers are restricted to those listed in the document and typically terminate once the tasks are completed.
This temporary authority can be set for a specific time or until the tasks are done. It is crucial for the principal to clearly detail the agent’s powers and the duration of their authority.
Legal Considerations
Statute – Revised Durable Power of Attorney Act (§§ 2B-8.1 — 2B-19).
Authority – § 46:2B-12 – “An agent may exercise all powers described in this act exercisable by the principal upon and after the presentation of the power of attorney to the banking institution with respect to any banking transaction whether conducted in this or any other state.”
Signing Requirements – (§ 46:2B-8.9) – Notary Public.
Related Forms
Vehicle Power of Attorney
Authorize another person or entity to make decisions and conduct transactions on your behalf concerning vehicles.
Signing Requirements: Notary public.
Minor (Child) Power of Attorney
Permits short-term supervision of a child's well-being and education.
Signing Requirements: Two witnesses.
Real Estate Power of Attorney
Grant legal authority to a third party (agent) to act on your behalf in real estate matters.
Signing Requirements: Notary public.
