Drafting a Special Power of Attorney

A Special Power of Attorney is a legal document wherein a person designates another person to do a particular act in his behalf. This document states the authority of a person and the limits of his authority in doing a particular act. The person executing this document is called the principal and the person designated by the principal to do a particular act is the agent. This document, in order to be valid must be signed by the principal and notarized by a Notary Public. The usual authorities given under a Special Power of Attorney are the following:

1. Authority to Sell a Real Property
2. Authority to Sell Shares of Stocks or other personal properties
3. Authority to manage the business of the principal 
4. Authority to withdraw retirement benefits
5. Authority to obtain a loan
6. Authority to Mortgage Real Property
7. Other Acts which cannot be consummated without the proper authorization from the concerned person.

A sample of A Special Power of Attorney is shown below:

SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:

           

            I, (principal's name), do hereby name, constitute, and appoint (name of attorney-in-fact (AIF)), of legal age, married, Filipino and a resident of (address of AIF,) to be my true and lawful attorney,for me and in my name, place, and stead, to do and perform the following acts or thing, to wit:

(a)    To administer, manage, oversee, sell, convey, mortgage and/or encumber my house and lot located at ___________________________________;

(b)   To sign, seal, execute and deliver any document or instrument necessary in carrying out into effect the power and authority herein granted;

            HEREBY GRANTING AND GIVING unto my said Attorney-in-Fact full power and authority to do and perform any and all other acts and things necessary or proper to be done in and about the premises as fully to all intents and purposes as I might or could lawfully do if personally present, and hereby ratifying and confirming all that my said attorney-in-fact shall lawfully do or cause to be done in my behalf by virtue of these presents.

            IN WITNESS WHEREOF, I have hereunto affixed my signature this _____ day of June, 2012, at _________________, Philippines.

__________________________________

(Principal)

SIGNED IN THE PRESENCE OF:

____________________________                    _____________________________   

                   (witness)                                                             (witness)

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES            )

City of Dipolog                                   ) S.S.

            BEFORE ME, on the date and place above written, personally appeared (name of principal), with Identification No. ___________ issued on ________________ at _____________________________, and he acknowledged under oath to me under penalty of law, that the whole contents therein are true and that the same is his free and voluntary act and deed.

       

            WITNESS MY HAND AND NOTARIAL SEAL.

                                                           

                                                                                                                Notary Public

Doc. No: ___________

Page No. ___________

Book No. ___________

Series of _________