Power of Attorney for Property
A Power of Attorney for Property is a legal document that lets you name someone to deal with your money and property. You’re called the grantor. The person you name is called your attorney.
Your attorney can make decisions, such as:
- doing your banking
- signing cheques
- buying, selling, or leasing real estate
- buying consumer goods and services
- make or change your will
- make or change who’s a beneficiary on your insurance policy or a registered plan, such as your registered retirement savings plan (RRSP)
- make a new Power of Attorney for you
A Power of Attorney for Property can start working as soon as you sign it. Or, you can set limits. For example, you can make a Power of Attorney that lets your attorney only sign documents that are needed to sell your home or that lasts only while you’re on vacation.