What is a General Power of Attorney in Ukraine?
There are situations when a person cannot personally sign papers, deal with important matters and handle problems. In such a case, lawyers recommend to execute a general Power of Attorney. The document transfers a certain range of powers to another person. In this circumstance, the person you trust will act on your behalf.
The Power of Attorney is of help if you are going abroad, cannot take the time and attend in person when financial, property and legal issues are resolved. It is worth clarifying that the concept of “general Power of Attorney” is not imposed in Ukrainian legislation. Usually, transfer of a wide range of powers to another person is meant by this.
Why is a general Power of Attorney needed?
For a document to be legally effective, it needs to be notarized. The notary's office checks the documents and authenticates signatures. After execution of the document, it is valid for the specified period.
An agent gets the opportunity to perform the following actions:
- resolving legal issues related to a company or enterprise;
- property management: sale, donation, rental, driving (in the case of a power of attorney for a vehicle).
It is worth remembering that a person with a general Power of Attorney acts in the interests of an owner. That is why it’s worth to give broad powers to a reliable person whom you trust. Notarial general Power of Attorney confirms broader powers of another person. Such a document will help when the proprietor, owner, urgently goes abroad, cannot be present at transactions and when resolving other issues.
You can terminate the Power of Attorney in the following cases:
- upon expiration of the period the document indicates;
- if a principal independently decides to terminate the powers of another person in relation to his/her property;
- death of a principal or an agent;
- restructuring of the company for which the power of attorney was issued.
General Power of Attorney:
The document can be issued for any movable and immovable property. The paper temporarily transfers the right to use or manage an apartment, land plot, legal firm, vehicle and other property. A person who is trusted with this right should act in the interests of an owner. The document specifies all the powers that the owner transfers.
To issue a General Power of Attorney, you need to provide a number of papers to a notary's office.
The package of papers may change, so we recommend that you consult with the specialists of notary's office by telephone in advance. A properly assembled package of documents allows you not to delay the registration, but to do everything in one visit. After signing the document at a notary public’s office, a general Power of Attorney gains strength and significance.