A power of attorney (POA) is a legal document giving the attorney-in-fact, the power to act for another person (the principal). The attorney can have broad legal authority or limited authority to proceed to legal decisions about the principal’s property, finances or deals.
The power of attorney is an important mean if you are located outside the country and need someone to manage and supervise certain financial and transaction matters and real estate assets.
IMPORTANT: A person appointed as power of attorney is not necessarily an attorney. This person could just be a family member or a trusted friend.