Ohio Limited Power of Attorney to Deal with Oil and Gas Properties

• Category: Oil Gas and Minerals - Agent Designations
• State: Multi-State
• Control #: US-OG-023
• Format: Word; Rich Text

Description

This form of limited power of attorney grants the agent/attorney in fact powers to deal with oil and gas properties. It is not durable. Ohio Limited Power of Attorney to Deal with Oil and Gas Properties is a legal document that grants an individual, referred to as the "agent" or "attorney-in-fact," the authority to handle specific matters related to oil and gas properties on behalf of the principal. This type of power of attorney is essential when the property owner is unable to personally manage or make decisions regarding their oil and gas assets. There are two primary types of Ohio Limited Power of Attorney to Deal with Oil and Gas Properties: 1. Specific Limited Power of Attorney: This type of limited power of attorney provides authority limited to a specific task or set of tasks related to oil and gas properties. For instance, an individual may grant their agent the power to negotiate and sign lease agreements, collect royalty payments, or sell a specific oil or gas property. The specific powers granted can be customized according to the principal's requirements and preferences. 2. General Limited Power of Attorney: This type of limited power of attorney confers broader authority to the agent, allowing them to handle a wide range of decisions and transactions related to the principal's oil and gas properties. The agent may be authorized to enter into contracts, make investments, negotiate deals, manage finances, or engage in any legal actions necessary for the effective management of the properties. However, it is important to note that the powers granted can still be limited to the scope desired by the principal. Keywords: Ohio, limited power of attorney, deal, oil and gas properties, agent, attorney-in-fact, manage, decisions, specific, specific limited power of attorney, general limited power of attorney, tasks, negotiate, sign, lease agreements, collect royalty payments, sell, property, transaction, contracts, investments, legal actions, management.

Ohio Limited Power of Attorney to Deal with Oil and Gas Properties is a legal document that grants an individual, referred to as the "agent" or "attorney-in-fact," the authority to handle specific matters related to oil and gas properties on behalf of the principal. This type of power of attorney is essential when the property owner is unable to personally manage or make decisions regarding their oil and gas assets. There are two primary types of Ohio Limited Power of Attorney to Deal with Oil and Gas Properties: 1. Specific Limited Power of Attorney: This type of limited power of attorney provides authority limited to a specific task or set of tasks related to oil and gas properties. For instance, an individual may grant their agent the power to negotiate and sign lease agreements, collect royalty payments, or sell a specific oil or gas property. The specific powers granted can be customized according to the principal's requirements and preferences. 2. General Limited Power of Attorney: This type of limited power of attorney confers broader authority to the agent, allowing them to handle a wide range of decisions and transactions related to the principal's oil and gas properties. The agent may be authorized to enter into contracts, make investments, negotiate deals, manage finances, or engage in any legal actions necessary for the effective management of the properties. However, it is important to note that the powers granted can still be limited to the scope desired by the principal. Keywords: Ohio, limited power of attorney, deal, oil and gas properties, agent, attorney-in-fact, manage, decisions, specific, specific limited power of attorney, general limited power of attorney, tasks, negotiate, sign, lease agreements, collect royalty payments, sell, property, transaction, contracts, investments, legal actions, management.