VIEWS: 556 PAGES: 2 CATEGORY: Business and Corporate Agreements POSTED ON: 6/6/2010
A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.
A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.
A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. A general power of attorney is often given to a family member by someone in the military who is going overseas. This would give the family member authority to handle any business until the person in the military returned home.
Power of Attorney to Manage Real Property I, (name of principal), of (street address, city, state, zip code), hereby make, constitute and appoint (name of agent), of (street address, city, state, zip code), my true and lawful attorney-in-fact, in my name, place and stead, with respect to real property. A. To lease real property; B. To accept real property as a gift or as security for a loan; C. To collect, sue for and receive all rents, receipts and profits of real property; D. To conserve, invest and use any and all of such rents, profits and receipts; E. To eject and remove tenants or other persons from real property; F. To recover possession of real property by all lawful means; G. To do any act of management and conservation of real property; H. To maintain, protect, repair, preserve, insure, build on, demolish, alter or improve all or any part of real property; I. To employ laborers about real property; J. To subdivide, develop, dedicate to public use without consideration, or to dedicate easements over, real property; K. To obtain or vacate plats and adjust boundaries of real property; L. To adjust differences in valuation on exchange or partition of real property by giving or receiving consideration; M. To pay, compromise or contest tax assessments, and to apply for tax refunds in connection with real property; and N. To release or part
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