What is the Difference Between Registered and Unregistered Power of Attorney?
A power of attorney is a legal document that grants authority to an individual to act on behalf of another individual or entity. It is important to understand the difference between registered and unregistered power of attorney. Knowing the difference between the two can help you make an informed decision when it comes to executing a power of attorney.
Registered Power of Attorney
A registered power of attorney is a document that is filed with the appropriate government agency. This type of power of attorney is often used when dealing with the execution or transfer of immovable property. This type of power of attorney is typically used when a person needs to transfer a property to another person or entity. The registered power of attorney must be signed by both parties and must be notarized.
Unregistered Power of Attorney
An unregistered power of attorney is a document that is not filed with the appropriate government agency. This type of power of attorney is typically used when a person needs to make decisions on behalf of another person or entity. This type of power of attorney is often used when a person needs to make decisions regarding medical care, financial matters, or other legal matters. The unregistered power of attorney must be signed by both parties and must be notarized.
The main difference between registered and unregistered power of attorney is that a registered power of attorney must be filed with the appropriate government agency, while an unregistered power of attorney does not need to be filed. It is important to note that a power of attorney is a legal and valid document and cannot be rejected solely on the ground that it is not registered.
In conclusion, understanding the difference between registered and unregistered power of attorney is important. A registered power of attorney is typically used when dealing with the execution or transfer of immovable property, while an unregistered power of attorney is typically used when a person needs to make decisions on behalf of another person or entity. It is important to note that a power of attorney is a legal and valid document and cannot be rejected solely on the ground that it is not registered.