A Rhode Island limited power of attorney lets a principal delegate specific authority to another individual for predetermined matters. This legal document pertains to financial affairs and real estate transactions, authorizing the agent to act on the principal’s behalf for tasks like investing, asset management, and business transactions.
This legal instrument is useful when the principal requires temporary representation due to their unavailability. Termination of the limited POA occurs upon completion of specific tasks, expiration of the designated period, the principal’s incapacitation, or the principal’s passing.
Legal Considerations
Statute – Rhode Island Short Form Power of Attorney Act (§§ 18-16-1 to 18-16-12).
Authority – §§ 18-16-4, 18-16-5, 18-16-6 – These statutes outline transaction responsibilities a power of attorney may grant to an agent.
Signing Requirements – § 18-16-2 – Notary public.
Additional Information – A principal can designate an agent if they’re 17 and in active military service. However, the agent won’t have permission to sell, dispose of, or mortgage any of the minor principal’s property (§ 34-22-8).
Related Forms
Minor (Child) Power of Attorney
Signing requirements: Notary public is recommended, but there's no specific statute.
