Length of POA
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My husband and I live in the US but own a sMall townhouse in Spain which We purchased in 2010 with money I had inherited from my mother. Though we love the house we are finding that we really can't afford the upkeep involved with maintaining the house and feel we need to sell. The advise from the agents (who have been wonderful and very dependable) is that we would take quite a loss at the moment, so we are going to put a price on the house that we are comfortable with but it might take quite some time to sell. As we don't live here we will need to have a POA. My question is, for how long a period can the POA stay in effect once initiated? To complicate things my husband could loose his job in the US!
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A Poder (POA) unless stated otherwise in the contents, lasts forever.
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Thanks John. We did one when buying the house .. Have to see if there's a copy somewhere so we know if that one was terminated or pay for another.... We'll be sure to put a termination upon the sale of the house now I understand more about them!
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Nikkers, if you give authority just for the sale, then that will expire when the sale is complete. However, if you do not have anything else in Spain then it's not a problem.
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That makes a lot of sense! Thanks again
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Correct. The POA lasts till you revoke ( annull) it.
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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How can you revoke a POA?
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