• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Joint Power of Attorney

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

t2b

Junior Member
Virginia

My brother AND I are named joint “attorney-in-fact” by my mother's power of attorney (POA). The POA has broad authority and has a clause that makes it durable.

From my background doing construction administration and management, I read the POA as intending for my brother AND I to act "together" as a single entity on behalf of my mother, and that would mean providing both signatures when her signature would be needed.

A bank told me recently that the Commonwealth of Virginia does not recognize the necessity of two signatures. This means to me that unilateral action is possible.

Is this correct – that Virginia Law ignores the POA's stated intentions?
-------
Now I am concerned about checks and balances on my bother’s decisions.

Can I be held responsible for the unilateral actions of my brother?

How do I make sure my mother is protected if she is considered “competent” but is exhibiting poor judgment, extreme emotional reactivity and horrible executive skills?What is the name of your state (only U.S. law)?
 


HomeGuru

Senior Member
Virginia

My brother AND I are named joint “attorney-in-fact” by my mother's power of attorney (POA). The POA has broad authority and has a clause that makes it durable.

From my background doing construction administration and management, I read the POA as intending for my brother AND I to act "together" as a single entity on behalf of my mother, and that would mean providing both signatures when her signature would be needed.

A bank told me recently that the Commonwealth of Virginia does not recognize the necessity of two signatures. This means to me that unilateral action is possible.

Is this correct – that Virginia Law ignores the POA's stated intentions?
-------
Now I am concerned about checks and balances on my bother’s decisions.

Can I be held responsible for the unilateral actions of my brother?

How do I make sure my mother is protected if she is considered “competent” but is exhibiting poor judgment, extreme emotional reactivity and horrible executive skills?What is the name of your state (only U.S. law)?
**A: I think you missed the boat here. It is not the bank's job to tell you how to run the business via the POA. Demand that the bank require 2 signatures period. Or use another bank. Businesses in VA require 2 signatures all the time.
 

t2b

Junior Member
Banks Responsibility on Jt POA

I have missed the boat ...

If I can "demand that the bank" require two signatures, my brother - with joint power of attorney, can "demand that the bank" not require two signatures.

There is no rule of law. (?)

What is Virginia's position?
 

HomeGuru

Senior Member
I have missed the boat ...

If I can "demand that the bank" require two signatures, my brother - with joint power of attorney, can "demand that the bank" not require two signatures.

There is no rule of law. (?)


**A: NO, the POA must be adhered to.


#########

What is Virginia's position?
**A: I don't know and I don't care. Although because the intent and the POA requires both signatures, the VA position is moot.
 

anteater

Senior Member
If you have to "...read the POA as intending for my brother AND I to act "together" as a single entity...", then it is a poorly drawn document. It should be explicit on that point. How are you deriving the document's intent?

I doubt that there is a statutory position.
 

t2b

Junior Member
banks statement and statutory position

"I don't know and I don't care. Although because the intent and the POA requires both signatures, the VA position is moot."

I take this to mean, that in your opinion, there is nothing unique in Virginia that would have the Bank saying they will accept a single signature. What is not explained is how the double signature is enforced .

--------------
If you have to "...read the POA as intending for my brother AND I to act "together" as a single entity...", then it is a poorly drawn document. It should be explicit on that point. How are you deriving the document's intent?

Unless it is in brail I read it ... the intent is obtained by reading it.

In reading it it says that my brother "AND" (emphasis added) myself are named to be "attorney-in-fact" (attorney - singular).

An additional paragraph indicates that if more than one person is named they are to act Jointly unless one delegates the power away.

That "reads" to me as requiring two signatures, unless there is other information in Virginia law to interpret it otherwise
 

HomeGuru

Senior Member
"I don't know and I don't care. Although because the intent and the POA requires both signatures, the VA position is moot."

I take this to mean, that in your opinion, there is nothing unique in Virginia that would have the Bank saying they will accept a single signature. What is not explained is how the double signature is enforced .

--------------
If you have to "...read the POA as intending for my brother AND I to act "together" as a single entity...", then it is a poorly drawn document. It should be explicit on that point. How are you deriving the document's intent?

Unless it is in brail I read it ... the intent is obtained by reading it.

In reading it it says that my brother "AND" (emphasis added) myself are named to be "attorney-in-fact" (attorney - singular).

An additional paragraph indicates that if more than one person is named they are to act Jointly unless one delegates the power away.

That "reads" to me as requiring two signatures, unless there is other information in Virginia law to interpret it otherwise
**A: I agree.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top