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2006 New York Code - Statutory Short Forms Of General Power Of Attorney; Durable And Nondurable Forms; Formal Requirements; Joint Agents.
§ 5-1501. Statutory short forms of general power of attorney; durable
and nondurable forms; formal requirements; joint agents. 1. The use of
the following form in the creation of a durable power of attorney is
lawful, and, when used, it shall be construed as a statutory short form
power of attorney in accordance with the provisions of this title:
"DURABLE GENERAL POWER OF ATTORNEY
NEW YORK STATUTORY SHORT FORM
THE POWERS YOU GRANT BELOW CONTINUE TO BE EFFECTIVE
SHOULD YOU BECOME DISABLED OR INCOMPETENT
(CAUTION: THIS IS AN IMPORTANT DOCUMENT. IT GIVES THE PERSON WHOM YOU
DESIGNATE (YOUR "AGENT") BROAD POWERS TO HANDLE YOUR PROPERTY DURING
YOUR LIFETIME, WHICH MAY INCLUDE POWERS TO MORTGAGE, SELL, OR OTHERWISE
DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU
OR APPROVAL BY YOU. THESE POWERS WILL CONTINUE TO EXIST EVEN AFTER YOU
BECOME DISABLED OR INCOMPETENT. THESE POWERS ARE EXPLAINED MORE FULLY
IN NEW YORK GENERAL OBLIGATIONS LAW, ARTICLE 5, TITLE 15, SECTIONS
5-1502A THROUGH 5-1503, WHICH EXPRESSLY PERMIT THE USE OF ANY OTHER OR
DIFFERENT FORM OF POWER OF ATTORNEY.
THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL OR OTHER
HEALTH CARE DECISIONS. YOU MAY EXECUTE A HEALTH CARE PROXY TO DO THIS.
IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT UNDERSTAND, YOU
SHOULD ASK A LAWYER TO EXPLAIN IT TO YOU.)
THIS is intended to constitute a DURABLE GENERAL POWER OF ATTORNEY
pursuant to Article 5, Title 15 of the New York General Obligations Law:
I, ...................................................................
(insert your name and address)
do hereby appoint:
........................................................................
(If 1 person is to be appointed agent, insert the name and address
of your agent above)
........................................................................
........................................................................
........................................................................
........................................................................
(If 2 or more persons are to be appointed agents by you insert their
names and addresses above)
my attorney(s)-in-fact TO ACT
(If more than one agent is designated, CHOOSE ONE of the following
two choices by putting your initials in ONE of the blank spaces to
the left of your choice:)
( ) Each agent may SEPARATELY act.
( ) All agents must act TOGETHER.
(If neither blank space is initialed, the agents will be required to
act TOGETHER)
IN MY NAME, PLACE AND STEAD in any way which I myself could do, if I
were personally present, with respect to the following matters as each
of them is defined in Title 15 of Article 5 of the New York General
Obligations Law to the extent that I am permitted by law to act through
an agent:
(DIRECTIONS: Initial in the blank space to the left of your choice
any one or more of the following lettered subdivisions as to which
you WANT to give your agent authority. If the blank space to the
left of any particular lettered subdivision is NOT initialed, NO
AUTHORITY WILL BE GRANTED for matters that are included in that
subdivision. Alternatively, the letter corresponding to each
power you wish to grant may be written or typed on the blank line
in subdivision "(Q)", and you may then put your initials in the
blank space to the left of subdivision "(Q)" in order to grant
each of the powers so indicated)
( ) (A) real estate transactions;
( ) (B) chattel and goods transactions;
( ) (C) bond, share and commodity transactions;
( ) (D) banking transactions;
( ) (E) business operating transactions;
( ) (F) insurance transactions;
( ) (G) estate transactions;
( ) (H) claims and litigation;
( ) (I) personal relationships and affairs;
( ) (J) benefits from military service;
( ) (K) records, reports and statements;
( ) (L) retirement benefit transactions;
( ) (M) making gifts to my spouse, children and more remote
descendants, and parents, not to exceed in the aggregate
$10,000 to each of such persons in any year;
( ) (N) tax matters;
( ) (O) all other matters;
( ) (P) full and unqualified authority to my attorney(s)-in-fact
to delegate any or all of the foregoing powers to any
person or persons whom my attorney(s)-in-fact shall
select;
( ) (Q) each of the above matters identified by the following
letters:
.........................................................
(Special provisions and limitations may be included in the statutory
short form durable power of attorney only if they conform to the
requirements of section 5-1503 of the New York General Obligations
Law.)
........................................................................
........................................................................
........................................................................
........................................................................
This durable Power of Attorney shall not be affected by my subsequent
disability or incompetence.
If every agent named above is unable or unwilling to serve, I appoint
........................................................................
(insert name and address of successor)
to be my agent for all purposes hereunder.
TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, I HEREBY AGREE THAT ANY
THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS
INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF
SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL
NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN
RECEIVED BY SUCH THIRD PARTY, AND I FOR MYSELF AND FOR MY HEIRS,
EXECUTORS, LEGAL REPRESENTATIVES AND ASSIGNS, HEREBY AGREE TO INDEMNIFY
AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL
CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD
PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT.
THIS DURABLE GENERAL POWER OF ATTORNEY MAY BE REVOKED BY ME AT ANY
TIME.
In Witness Whereof I have hereunto signed my name this ..... day of
........., 19 .... .
(YOU SIGN HERE:) ==> .................................................
(Signature of Principal)
(ACKNOWLEDGEMENT)"
The execution of this statutory short form durable power of attorney
shall be duly acknowledged by the principal in the manner prescribed for
the acknowledgement of a conveyance of real property.
No provision of this article shall be construed to bar the use of any
other or different form of power of attorney desired by the parties
concerned.
Every statutory short form durable power of attorney, to be valid,
must be written, typed or printed using letters which are in legible
writing of or clear type of no less than twelve-point in size or if in
writing a reasonable equivalent thereof and must contain, in bold face
upper case or upper and lower case type or a reasonable equivalent
thereof the "CAUTION" which is printed in bold face type at the
beginning of the statutory form printed above and the "DIRECTIONS" which
are printed in bold face type immediately before subdivisions (A)
through (Q) of the statutory form printed above.
1-a. The use of the following form in the creation of a nondurable
power of attorney is lawful, and, when used, it shall be construed as a
statutory short form power of attorney in accordance with the provisions
of this title:
"NONDURABLE GENERAL POWER OF ATTORNEY
NEW YORK STATUTORY SHORT FORM
THE POWERS YOU GRANT BELOW CEASE TO BE EFFECTIVE
SHOULD YOU BECOME DISABLED OR INCOMPETENT
(CAUTION: THIS IS AN IMPORTANT DOCUMENT. IT GIVES THE PERSON WHOM YOU
DESIGNATE (YOUR "AGENT") BROAD POWERS TO HANDLE YOUR PROPERTY DURING
YOUR LIFETIME, WHICH MAY INCLUDE POWERS TO MORTGAGE, SELL, OR OTHERWISE
DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU
OR APPROVAL BY YOU. THESE POWERS WILL TERMINATE IF YOU BECOME DISABLED
OR INCOMPETENT. THESE POWERS ARE EXPLAINED MORE FULLY IN NEW YORK
GENERAL OBLIGATIONS LAW, ARTICLE 5, TITLE 15, SECTIONS 5-1502A THROUGH
5-1503, WHICH EXPRESSLY PERMIT THE USE OF ANY OTHER OR DIFFERENT FORM OF
POWER OF ATTORNEY.
THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL OR OTHER
HEALTH CARE DECISIONS. YOU MAY EXECUTE A HEALTH CARE PROXY TO DO THIS.
IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT UNDERSTAND, YOU
SHOULD ASK A LAWYER TO EXPLAIN IT TO YOU.)
THIS is intended to constitute a NONDURABLE GENERAL POWER OF ATTORNEY
pursuant to Article 5, Title 15 of the New York General Obligations Law:
I, ..................................................................
(insert your name and address)
do hereby appoint:
........................................................................
(If 1 person is to be appointed agent, insert the name and address of
your agent above)
........................................................................
........................................................................
........................................................................
........................................................................
(If 2 or more persons are to be appointed agents by you, insert
their names and addresses above)
my attorney(s)-in-fact TO ACT
(If more than one agent is designated, CHOOSE ONE of the following
two choices by putting your initials in ONE of the blank spaces
( ) to the left of your choice:)
( ) Each agent may SEPARATELY act.
( ) All agents must act TOGETHER.
(If neither blank space is initialed, the agents will be required to
act TOGETHER)
IN MY NAME, PLACE AND STEAD in any way which I myself could do, if I
were personally present, with respect to the following matters as each
of them is defined in Title 15 of Article 5 of the New York General
Obligations Law to the extent that I am permitted by law to act through
an agent:
(DIRECTIONS: Initial in the blank space to the left of your choice
any one or more of the following lettered subdivisions as to which
you WANT to give your agent authority. If the blank space to the
left of any particular lettered subdivision is NOT initialed, NO
AUTHORITY WILL BE GRANTED for matters that are included in that
subdivision. ALTERNATIVELY, the letter corresponding to each power
you wish to grant may be written or typed on the blank line in
subdivision "(Q)", and you may then put your initials in the blank
space to the left of subdivision "(Q)" in order to grant each of
the powers so indicated)
( ) (A) real estate transactions;
( ) (B) chattel and goods transactions;
( ) (C) bond, share and commodity transactions;
( ) (D) banking transactions;
( ) (E) business operating transactions;
( ) (F) insurance transactions;
( ) (G) estate transactions;
( ) (H) claims and litigation;
( ) (I) personal relationships and affairs;
( ) (J) benefits from military service;
( ) (K) records, reports and statements;
( ) (L) retirement benefit transactions;
( ) (M) making gifts to my spouse, children and more remote
descendants, and parents, not to exceed in the aggregate
$10,000 to each of such persons in any year;
( ) (N) tax matters;
( ) (O) all other matters;
( ) (P) full and unqualified authority to my attorney(s)-in-fact
to delegate any or all of the foregoing powers to any
person or persons whom my attorney(s)-in-fact shall
select;
( ) (Q) each of the above matters identified by the following
letters:
.........................................................
(Special provisions and limitations may be included in the statutory
short form nondurable power of attorney only if they conform to the
requirements of section 5-1503 of the New York General Obligations
Law.)
........................................................................
........................................................................
........................................................................
........................................................................
If every agent named above is unable or unwilling to serve, I appoint
........................................................................
(insert name and address of successor)
to be my agent for all purposes hereunder.
TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, I HEREBY AGREE THAT ANY
THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS
INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF
SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL
NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN
RECEIVED BY SUCH THIRD PARTY, AND I FOR MYSELF AND FOR MY HEIRS,
EXECUTORS, LEGAL REPRESENTATIVES AND ASSIGNS, HEREBY AGREE TO INDEMNIFY
AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL
CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD
PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT.
THIS NONDURABLE GENERAL POWER OF ATTORNEY MAY BE REVOKED BY ME AT ANY
TIME.
In Witness Whereof I have hereunto signed my name this ..... day of
........., 19 .... .
(YOU SIGN HERE:) ==> .................................................
(Signature of Principal)
(ACKNOWLEDGEMENT)"
The execution of this statutory short form nondurable power of
attorney shall be duly acknowledged by the principal in the manner
prescribed for the acknowledgement of a conveyance of real property.
No provision of this article shall be construed to bar the use of any
other or different form of power of attorney desired by the parties
concerned.
Every statutory short form nondurable power of attorney, to be valid,
must be written, typed or printed using letters which are in legible
writing of or clear type of no less than twelve-point in size or if in
writing a reasonable equivalent thereof and must contain, in bold face
upper case or upper and lower case type or a reasonable equivalent
thereof the "CAUTION" which is printed in bold face type at the
beginning of the statutory form printed above and the "DIRECTIONS" which
are printed in bold face type immediately before subdivisions (A)
through (Q) of the statutory form printed above.
2. A power of attorney is a "statutory short form power of attorney",
as this phrase is used in the following sections of this title, when,
but only when, it meets the requirements of the closing paragraph of
subdivision one or subdivision one-a of this section and has been duly
acknowledged by the principal in the manner prescribed for the
acknowledgement of a conveyance of real property and it contains the
exact wording of the form set forth in subdivision one or subdivision
one-a of this section, except that any blank space to the left of any
one or more of lettered subdivisions (A) through (Q) may be initialed by
the principal, in which case the corresponding subdivisions to the right
of the blank spaces so initialed shall be deemed chosen by the principal
and effective with respect to the powers conferred in the particular
sections of this title which are represented by the subdivisions so
chosen. Notwithstanding the foregoing, a "statutory short form power of
attorney" may contain modifications or additions of the types described
in section 5-1503 of this chapter.
3. If more than one agent is designated by the principal, such agents,
in the exercise of the powers conferred, must act jointly or separately
consistent with the interpretive instructions contained in such
statutory short form power of attorney.
4. Notwithstanding subdivisions one, one-a and two of this section, a
power of attorney executed either before, on, or after September
twenty-seventh, nineteen hundred sixty-four and before October first,
nineteen hundred ninety-four is a "statutory short form power of
attorney" as this phrase is used in the following sections of this title
when it uses the words "New York General Business Law, Article 13,
sections 222-234" and the words "Article 13 of the New York General
Business Law" in lieu of the words "New York General Obligations Law,
Article 5, Title 15, sections 5-1502A through 5-1503" and "Article 5,
Title 15 of the New York General Obligations Law" and in other respects
complies with subdivision two of this section as such subdivision two
existed before its amendment effective October first, nineteen hundred
ninety-four.
4-a. Notwithstanding subdivisions one, one-a and two of this section,
a power of attorney executed either on or after October first, nineteen
hundred ninety-four and before the effective date of subdivision five-a
of this section is a "statutory short form power of attorney" as this
phrase is used in the following sections of this title when it uses the
words "New York General Obligations Law, Article 5, Title 15, sections
5-1502A through 5-1503" and "Article 5, Title 15 of the New York General
Obligations Law" and in other respects complies with subdivision two of
this section as such subdivision two existed before its amendment
effective on the same date as the effective date of subdivision five-a
of this section.
5. Every "statutory short form power of attorney", as this phrase is
used in the following sections of this title, which was executed before
October first, nineteen hundred ninety-four in accordance with
provisions of law effective at the time of such execution, shall
continue to remain effective and be governed by the requirements of such
prior law, on and after October first, nineteen hundred ninety-four;
provided, however, that every "statutory short form power of attorney"
executed on and after October first, nineteen hundred ninety-four shall
be subject to the provisions of this section as amended by chapter six
hundred ninety-four of the laws of nineteen hundred ninety-four.
5-a. Every "statutory short form power of attorney", as this phrase is
used in the following sections of this title, which was executed before
the effective date of this subdivision in accordance with provisions of
law effective at the time of such execution, shall continue to remain
effective and be governed by the requirements of such prior law, on and
after the effective date of this subdivision; provided, however, that
every "statutory short form power of attorney" executed on and after the
effective date of this subdivision shall be subject to the provisions of
this section as amended by the same chapter of the laws as the one which
added this subdivision to this section.
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