A Power of Attorney is a document that a person (known as a “Donor”) uses to appoint another person to make decisions about the donor’s property and finances. Depending on the limitations placed in the Power of Attorney (or “POA”) document, this can mean signing documents on the Donor’s behalf, paying the Donor’s bills, or sell the Donor’s home.
Power of Attorney documents can be risky, as they are susceptible to fraud. Use of fraudulent Power of Attorney documents is a serious issue affecting the real estate industry in Ontario. In addition, Powers of Attorney that are invalid due to the lack of competency of the Donor, or invalid execution or witnessing of the document are also problematic, creating issues of negligence and potentially voiding real estate transactions in which they are used.
Click Here for the full article.