Power of Attorney

[teamjoel]

Hi All,

We are currently going through the motions of selling our partnership as a going concern. One of the partners is going on holiday for a period of 3 weeks and will most likely be absent when important documents, such as the assignment of lease, need signing.

Is it possible for him to grant me power of attorney for all his affairs relating to the business in question, thus allowing me to legally sign documents on his behalf for the period in which he will be away?

Thanks in advance.

 

[Lime One]

It is possible and happens a lot of the time.

 

[teamjoel]

thanks.

how would I go about getting this in place?

 

[Lime One]

The partner who is going to be away needs to organise it, its something we can do, or he can use most local solicitors. The only difference normally is the cost involved!

 

[The Legal Mango Team]

Hi,

We agree with Lime One that powers of attorney often crop up when businesses are being bought / sold.

It shouldn't cost more than a few hundred pounds for your partner to put a power of attorney in place and it is something that can be done relatively quickly.

Your partner's main concern will be to ensure that the scope of the power of attorney is limited to the partnership sale.

Hope this helps.