Can an attorney-in-fact gift the principal's property by using the power of attorney?
Full Question:
My grandfather has executed a power of attorney of property in New Jersey to one of his managers. I came to know that the manager is secretly trying to gift my grandfather’s property to his wife. Can he legally do that by using the power of attorney?
02/14/2017 |
Category: Power of Attorney |
State: New Jersey |
#32128
Answer:
“A power of attorney shall not be construed to authorize the attorney-in-fact to gratuitously transfer property of the principal to the attorney-in-fact or to others except to the extent that the power of attorney expressly and specifically so authorizes. An authorization in a power of attorney to generally perform all acts which the principal could perform if personally present and capable of acting, or words of like effect or meaning, is not an express or specific authorization to make gifts.”
In the instant case, the manager cannot legally gift your grandfather’s property to his wife by using the power of attorney.
