Brief explanation of notarial powers
In this article I will try to briefly explain what a power of attorney is, what the main types of power of attorney are, and what they are used for.
What is a power of attorney?
A power of attorney is the will of a person (principal) to authorise another (agent) to do something that may affect the person granting the power in their own person and/or their own assets. Thus, it consists of a kind of authorisation, empowerment or consent so that the person receiving the power can act on behalf of the person granting it with the same effects as if the person granting the power were acting themselves.
When is it necessary for the power of attorney to be notarised?
In basic terms, when it comes to the following powers: power to marry, power for litigation, general powers and powers aimed at an act that must be drafted in this public deed or registered in some registry. Also commercial powers in which the management body of a company allows a certain person to act for one or several acts.
Most commonly used power classes
A) General powers.
It is the power that one person gives to another so that they have the authority to manage all their assets, allowing any act to be carried out regardless of its significance, in which case it is informally known as a power of ruin, or being able to exclude a specific action, such as in the case of powers that enable everything except making donations.
This type of power of attorney is especially granted by elderly people who seek to facilitate their children managing affairs on their behalf. Notable within this type of power of attorney are the so-called preventive powers, which are those that would remain even if a person became incapacitated after losing their mental faculties, which can be a powerful tool for a person to decide about the care they want to receive in the event of acquired incapacity. On this subject, an article has been written, in my opinion very interesting, by the Notary and also partner of J&LA Notarios Luis Alberto Álvarez Moreno. You can access this writing here.
B) Special powers.
These are the powers that authorise the exercise of one or more specific faculties at the choice of the person granting the power. Due to the repeated use of some specific special powers in practice, I am going to define some of these types.
- Power to buy or to sell: this is the power in which one person authorises another to buy or sell a property. They are especially used for selling when there are several co-owners of a property and one resides outside the municipality where the property is located, to authorise the other co-owners to sell without the need for them to travel to the place where the sale signing will take place. Obviously, the person granting the power will receive the price corresponding to the right they had in the property. If you want to know more about sales and purchases, there is an article here.
- Power to accept and distribute inheritances: this is the power that one of the heirs gives to the others so that they can accept and distribute the inheritance without the person granting the power having to attend the signing, receiving the right that corresponds to them in this inheritance. Sometimes all the heirs of a person give the power to a lawyer to carry out all the procedures related to an inheritance. For more information about inheritances, you can take a look at another article written by me.
C) Power of attorney for legal proceedings.
This is the power of attorney granted by a person so that one or several lawyers and/or solicitors can carry out all the necessary actions in relation to any lawsuit the grantor has. In this case, an electronic copy of the power of attorney must be sent from the notary's office to the Registry.
What are the procedures or requirements to grant a power of attorney?
The requirements are relatively simple, it is enough for the person who wants to grant the power of attorney to go to a notary with their valid DNI (or corresponding identification document). It is necessary to have the details (name, surnames, and DNI) of the person to whom the power of attorney will be granted. In the case of powers of attorney for lawsuits, the names and surnames of the lawyers and solicitors must be known, as well as the Bar Association to which they belong and their professional number.
"For all powers of attorney, it is advisable to make an appointment at the Notary's office; however, it is usually possible to grant the power of attorney on the same day even without an appointment."
How much does a power of attorney cost?
The price of the power of attorney is regulated by the State in the notarial tariff. The notarial tariff establishes various criteria for the cost of powers of attorney: it increases if the number of pages increases, it increases if there is a greater number of grantors or attorneys-in-fact, and it increases in powers of attorney for litigation when an electronic copy is sent to the College of Procurators. Therefore, it is difficult to state the cost that a power of attorney will have until it has been made, but what can be affirmed is that it is one of the cheapest acts carried out in a Notary's office.
To conclude, I just want to express my wish that this article has helped to spread knowledge about the actions carried out in the notarial world. I hope it has been helpful to you. If you have any questions, you can contact us at J&LA Notarios Asociados.
