Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.
An agency can be created for the purpose of doing almost any act the principal could do. However, there are some acts that must be done in person and cannot be done by an agent. Examples would be: testifying in court for another individual, making a will, and voting.
A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.
A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.
A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. This form is such a general power of attorney.
Maricopa, Arizona General Power of Attorney (GPA) is a legal document that allows an individual, referred to as the "principal," to grant broader powers to another person, known as the "agent" or "attorney-in-fact." With a GPA, the agent gains the authority to act on behalf of the principal in various financial and legal matters. A Maricopa GPA provides extensive powers to the agent, enabling them to make decisions and take actions on the principal's behalf. These powers may include managing bank accounts, handling real estate transactions, paying bills, filing taxes, making investments, and managing business affairs. It is important to note that the powers granted can be tailored and customized according to the principal's preferences and requirements. Different types of General Power of Attorney arrangements may exist within Maricopa, Arizona. Some common variations include: 1. Limited General Power of Attorney: This type of GPA grants specific powers to the agent for a defined period or specific purposes, such as managing a particular business transaction or handling affairs during the principal's absence. 2. Durable General Power of Attorney: The durable GPA remains effective even if the principal becomes mentally incapacitated or unable to make their own decisions. It offers continuous powers to the agent and is ideal for long-term financial and legal management. 3. Springing General Power of Attorney: This type of GPA "springs" into effect only when a specific event or condition occurs, as defined in the document. For instance, it may activate if the principal becomes disabled or incapacitated. When creating a Maricopa GPA, it is essential to consult with a qualified attorney who can guide you through the legal requirements and help customize the document to meet your specific needs. This ensures that the GPA accurately reflects your intentions and provides suitable authority to the designated agent while adhering to Maricopa, Arizona laws and regulations.Maricopa, Arizona General Power of Attorney (GPA) is a legal document that allows an individual, referred to as the "principal," to grant broader powers to another person, known as the "agent" or "attorney-in-fact." With a GPA, the agent gains the authority to act on behalf of the principal in various financial and legal matters. A Maricopa GPA provides extensive powers to the agent, enabling them to make decisions and take actions on the principal's behalf. These powers may include managing bank accounts, handling real estate transactions, paying bills, filing taxes, making investments, and managing business affairs. It is important to note that the powers granted can be tailored and customized according to the principal's preferences and requirements. Different types of General Power of Attorney arrangements may exist within Maricopa, Arizona. Some common variations include: 1. Limited General Power of Attorney: This type of GPA grants specific powers to the agent for a defined period or specific purposes, such as managing a particular business transaction or handling affairs during the principal's absence. 2. Durable General Power of Attorney: The durable GPA remains effective even if the principal becomes mentally incapacitated or unable to make their own decisions. It offers continuous powers to the agent and is ideal for long-term financial and legal management. 3. Springing General Power of Attorney: This type of GPA "springs" into effect only when a specific event or condition occurs, as defined in the document. For instance, it may activate if the principal becomes disabled or incapacitated. When creating a Maricopa GPA, it is essential to consult with a qualified attorney who can guide you through the legal requirements and help customize the document to meet your specific needs. This ensures that the GPA accurately reflects your intentions and provides suitable authority to the designated agent while adhering to Maricopa, Arizona laws and regulations.
