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limited power of attorney

   Also found in: Acronyms 0.01 sec.
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.



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The settlement company will require a limited power of attorney to act on behalf of the borrower and negotiate with the lenders.
The Limited Power of Attorney specifies under what set of circumstances or during what period of time someone is allowed to act on your behalf for certain activities.
While checking the box gives the preparer a limited power of attorney to discuss the return with the Service, the preparer does not have a power of attorney over all matters related to the tax return.
 
 
 
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