Power of attorney

A power general or general power of attorney is frequently used in Spain. The power comes in a standard form, which lists all the actions that can be carried out by the holder.

These include buying and selling property, handling bank accounts, and just about anything that the person himself can do with his assets.

The form contains a clause declaring that all of these actions shall be taken for the benefit of the granter of the power.

There are also other forms of power of attorney, limited to carrying out certain specific actions in the name of the granter, such as signing a contract for the sale of a specified property at a given price, during a given time period, after which the power elapses.

But the general power of attorney is the one most used, simply because situations change and unforeseen complexities arise in any transaction. This can mean that the holder of the power is unable to act because the power does not mention a specific circumstance that has arisen, such as signing at the bank to obtain the money transfer from abroad.

The wide powers of the general power of attorney avoid these problems. In an international property market, you often find that a seller or buyer cannot be physically present at the moment of signing a purchase deal at the notary, so he gives his lawyer or some other trusted person a general power of attorney to sign for him.

Once the deed is accomplished, the granter revokes the power of attorney, again at the notary, and all goes on as before.

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