Power of Attorney

What is a Power of Attorney?

• A legal document giving authority for one person to act on behalf of another

• A legal document used to sell the property when the owner has died

• A document required as part of a Will identifying where the sale proceeds needs to be sent to

When did Enduring Powers of Attorney come to an end?

• 30th September 2007

• 30th September 2006

• 30th September 2008

• 30th September 2009

When did Lasting Power of Attorneys replace Enduring Power of Attorneys?

• 1st October 2006

• 1st October 2009

• 1st October 2008

• 1st October 2007

On a Power of Attorney Sale who should the sale proceeds be sent back to?

• To any Third party the Attorney has requested

• The Attorney

• The Donor

If the Donor has lost Capacity can you still use a Lasting Power of Attorney?

• No

• Yes

• Yes provided it has been registered at the Office of the Public Guardian

• Yes, providing the Attorney is still happy to proceed

On the POA, what does Jointly and Severally mean?

• Means ALL the Attorneys have to agree on the decision together

• Means that Attorneys can make decisions together AND separately

• Means that your Attorney must make certain decisions together and may make certain decisions separately

There is one Registered owner on the property and a Form A Restriction on the Title. How many people need to sign the TR1 to overreach the Restriction?

• The Attorney and a second Trustee

• Provided there are two Attorneys just the Attorneys

• Just the Attorney

• Three people would need to sign the TR1

What is the solution if a seller has lost Capacity without setting up a Lasting Power of Attorney?

• You can not sell the property

• The clients spouse can still set up a Lasting Power of Attorney

• Proceed to Exchange of Contracts quickly

• A Deputy will need to be appointed by the Court of Protection

Can we send the Sale Proceeds back to the Deputy appointed by the Court of Protection

• No, the money must go back to the owner of the property

• Yes as there will be a Bond in Place to protect the owner

• Provided your Team Manager approves it

Upon receipt of the Lasting Power of Attorney, what should you check?

• You have an original or all pages are certified

• There are no Restrictions and has it been registered at the OPG

• Is it for Property and Financial Affairs

• We need to speak to the Donor to ensure that they still have capacity and don’t intend to revoke the Power