Durable Special Power of Attorney Granting Agent the Right to Execute Oil and Gas Leases, Attendant instruments, and Deal with Oil and Gas Properties
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How to fill out Durable Special Power Of Attorney Granting Agent The Right To Execute Oil And Gas Leases, Attendant Instruments, And Deal With Oil And Gas Properties?
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FAQ
The name and address of the principal. The ID, physical address, and agent's details. A reason to get the SPA. Date and the place where one will sign that form. The principal's signature. The principal's name, identification number, and the ID expiry date.
Signature Requirements In all states, the principal must sign the document and have it notarized. Some states also mandate two witnesses to the signature. As of 2018, some 23 states have adopted the Uniform Power of Attorney Act, which requires neither witnesses nor the agent's signature.
At the time the Durable Power of Attorney is signed, the Principal must have mental capacity. Although a Durable Power of Attorney is still valid if and when a person becomes incapacitated, the Principal must understand what he or she is signing at the moment of execution.
Draft a list of special powers. Decide what powers are springing. Pick an agent and a successor agent. Note the expiration date. Compile the information into one document. Execute the power of attorney letter.
Your name, address, and signature as the principal. The name, address, and signature of your Agent. The activities and properties under the Agent's authority. The start and termination dates of the Agent's powers. Any compensation you will give to the Agent.
1) Choose the right person(s). 2) Talk to an attorney. 3) Choose what kind of power of attorney is best suited to your needs. 4) Decide on the details. 5) Fill out the power of attorney form. 6) Sign your power of attorney form in front of a notary or witness.
Under California Law to be properly executed a Power of Attorney must be signed by the Principal (person delegating their authority) either before a Notary Public or before two disinterested adult witnesses (i.e., persons with no personal stake in the Power of Attorney).
The Power of Attorney is effective as soon as the Principal signs it, unless the Principal states that it is only to be effective upon the happening of some future event. These are called "springing" powers, because they spring into action upon a certain occurrence.
Most states offer simple forms to help you create a power of attorney for finances. Generally, the document must be signed, witnessed and notarized by an adult. If your agent will have to deal with real estate assets, some states require you to put the document on file in the local land records office.