Florida Statutes 709.2201 – Authority of agent
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(1) Except as provided in this section or other applicable law, an agent may only exercise authority specifically granted to the agent in the power of attorney and any authority reasonably necessary to give effect to that express grant of specific authority. General provisions in a power of attorney which do not identify the specific authority granted, such as provisions purporting to give the agent authority to do all acts that the principal can do, are not express grants of specific authority and do not grant any authority to the agent. Court approval is not required for any action of the agent in furtherance of an express grant of specific authority.
(2) As a confirmation of the law in effect in this state when this part became effective, such authorization may include, without limitation, authority to:
(a) Execute stock powers or similar documents on behalf of the principal and delegate to a transfer agent or similar person the authority to register any stocks, bonds, or other securities into or out of the principal’s or nominee’s name.
Terms Used In Florida Statutes 709.2201
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Agent: means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney in fact, or otherwise. See Florida Statutes 709.2102
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Contract: A legal written agreement that becomes binding when signed.
- Durable: means , with respect to a power of attorney, not terminated by the principal's incapacity. See Florida Statutes 709.2102
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Knowledge: means a person has actual knowledge of the fact, has received a notice or notification of the fact, or has reason to know the fact from all other facts and circumstances known to the person at the time in question. See Florida Statutes 709.2102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Power of attorney: means a writing that grants authority to an agent to act in the place of the principal, whether or not the term is used in that writing. See Florida Statutes 709.2102
- Principal: means an individual who grants authority to an agent in a power of attorney. See Florida Statutes 709.2102
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest or right therein. See Florida Statutes 709.2102
- Trustee: A person or institution holding and administering property in trust.
(b) Convey or mortgage homestead property. However, if the principal is married, the agent may not mortgage or convey homestead property without joinder of the principal’s spouse or the spouse’s guardian. Joinder by a spouse may be accomplished by the exercise of authority in a power of attorney executed by the joining spouse, and either spouse may appoint the other as his or her agent.
(c) If such authority is specifically granted in a durable power of attorney, make all health care decisions on behalf of the principal, including, but not limited to, those set forth in chapter 765.
(d) If such authority is specifically limited, grant a supported decisionmaking agreement as defined in s. 709.2209(1).
(3) Notwithstanding the provisions of this section, an agent may not:
(a) Perform duties under a contract that requires the exercise of personal services of the principal;
(b) Make any affidavit as to the personal knowledge of the principal;
(c) Vote in any public election on behalf of the principal;
(d) Execute or revoke any will or codicil for the principal; or
(e) Exercise powers and authority granted to the principal as trustee or as court-appointed fiduciary.
(4) Subject to s. 709.2202, if the subjects over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.
(5) Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed and to property that the principal acquires later, whether or not the property is located in this state and whether or not the authority is exercised or the power of attorney is executed in this state.
(6) An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal’s successors in interest as if the principal had performed the act.