Do you have an asset like a landed property which you want to lease or rent out to someone? Where someone wishes to lease or rent his property, it is always proper to retain the services of a lawyer. Where the owner of the property wants a lawyer to handle or manage his property, what such a person is usually expected to do is to contact a lawyer, and maybe retain his or her services to do the job.
The lawyer then charges the person, and where there is an agreement between both parties, a contractual relationship will be established.
A lawyer, however, does not just become empowered to manage such a property simply because there is consensus ad idem.
For a lawyer to be empowered, a document known as a Power of Attorney needs to be drafted and executed.
A Power of Attorney is a document which empowers or authorizes a person to act for another person as an agent. When done, the lawyer can work and do those things which the document empowers him to do in the name of the donor who is the owner of the property.
However, the issuance of the Power of Attorney does not stop the donor from also managing the property and doing those same things he has authorized the lawyer to do.
For more on Legal tips, follow us in the Triax Law Series.