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limited power of attorney |
Also found in: Acronyms | 0.01 sec. |
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limited power of attorney The authority granted to another under a written power of attorney, specifying or describing the particular acts the attorney in fact may do,and no others.Contrast with a general power of attorney,which allows all things the person could do himself or herself.Limited powers are usually given to do things like transfer stock, obtain information from the IRS or Social Security Administration,sign all documents necessary for a real estate closing,or other such tasks. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| In surrendering all ownership and beneficial interest in the transferred property, the donor (or the donor's financial adviser) is permitted to manage the account's investments, subject to a limited power of attorney allowing the donor to act as the investment manager for a fixed term. Alternatively, you can limit the powers of your agent, in a limited power of attorney for finances, to a specific timeframe, or to specific functions. Every adviser is given some limited power of attorney, generally only the right to enter buy and sell orders. |
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