Legal Question in Real Estate Law in New York
Can more than one person be given "Power of Attorney" for an individual. If so, can a" Power of Attorney"form designate two or more people to act on a person's behalf in financial matters; or do we need a "Power of Attorney" form for each person.
2 Answers from Attorneys
One form may be sufficient. If both people must sign anything, be sure the POA is explicit about this, and it may require that you notify any institution involved of this. For example, I had POA with my brother for our mother. I had to specifically notify the bank that dual signatures were required, so they could note this on the account card. On the other hand, if the document names two people, but either may sign without the other, this also should be explicit. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.
Q. Can more than one person be given "Power of Attorney" for an individual.
A. Yes.
Q. If so, can a" Power of Attorney"form designate two or more people to act on a person's behalf in financial matters; or do we need a "Power of Attorney" form for each person.
A. One form may allow 2 people to act. Furthermore, the 2 individual may act together or separately.
Warning. Be careful. New York recently amended the form approximately 1 year ago and it is not as simple as people think.
Mike.