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February 12, 2019

Parties involved in a Power of Attorney

In a Power of Attorney there are a handful of parties that could be involved.

Attorney
This is the person who hopefully is supervising you in the Power of Attorney creation, drafting and notarizing process. It is not recommended to engage in this process without professional leadership from an Attorney specializing in whatever you are doing.

Grantor
The Grantor is the person giving powers to someone else. He is also called the Principal signer.

Principal
The Principal is the entity signing the Power of Attorney to give powers to another party namely the Grantee, Agent or Attorney in Fact

Agent
The Agent is the party who has been given special powers by virtue of the fact that the Power of Attorney was signed

Attorney in Fact
This is a more formal term for Agent, or the person who receives rights, privileges or powers after the signing of a Power of Attorney

Grantee
The party once again who receives rights from the signing of a Power of Attorney who is only called a Grantee in the document itself but called an Attorney in fact or Agent in real life.

Notary Public
The party who notarizes the Power of Attorney. The Notary act most appropriate for this type of document would be an Acknowledgment.

Custodian
The party who holds on to the Power of Attorney is called a custodian. This might be a bank, financial bureau, county clerk, attorney, or other entity or entities. There might be more than one entity holding on to a Power of Attorney.

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http://blog.123notary.com/?p=18966

Index of posts about power of attorney
http://blog.123notary.com/?p=20255

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1 Comment »

  1. I think there should be a song about Power of Attorneys — I have the power…. I have the power… of Attorney I have the power…

    Comment by admin — March 28, 2019 @ 2:38 am

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