Power of attorney
6 months ago
Can i give power of attorney of my bank account to two person jointly(with the consent of both , transaction can be done)?
A.Dear Client,
A “power of attorney” is a mode of creating an express agency. It is a written instrument executed by a Principal to appoint an Agent to act for the Principal in one or more transactions. “Power-of-attorney” includes any instruments empowering a specified person to act for and in the name of the person executing it. A Power-Of-Attorney must be executed in favour of a single person/donee for the specified transaction and it cannot be executed in favour of several persons for the same act or single specific transaction. But a power of attorney can be executed by more than one principal in favour of single person.
A “power of attorney” is a mode of creating an express agency. It is a written instrument executed by a Principal to appoint an Agent to act for the Principal in one or more transactions. “Power-of-attorney” includes any instruments empowering a specified person to act for and in the name of the person executing it. A Power-Of-Attorney must be executed in favour of a single person/donee for the specified transaction and it cannot be executed in favour of several persons for the same act or single specific transaction. But a power of attorney can be executed by more than one principal in favour of single person.
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A.Dear client,
Yes, it is possible to give power of attorney of a bank account to two persons jointly, with the consent of both parties.
Yes, it is possible to give power of attorney of a bank account to two persons jointly, with the consent of both parties.
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