LovesTheTeam.com

What is a trustee?

A trusted person is a person or organization,representing the interests of other citizens at their request. The trusted person is an individual who can represent the interests of a standing deputy during the election campaign or other political process. A trusted person may be an organization or a citizen who act as a disinterested administrator of the property of a bankrupt. The main task of such a trustee is the distribution of property in accordance with all legal norms. These powers are assigned by an individual or an organization to an arbitration court or creditors. The trustee may represent the interests of another person and act in accordance with these interests. But this kind of representation must be legally certified by a notary, otherwise this official will not have the official status.

Types and types of powers of attorney

Any trustee must be registeredaccording to the law, to have the right to fully represent the interests of its principal. The power of attorney to the legal entity and the physical has a different structure. But most often the trustee is an individual citizen. Power of attorney is of two types: a power of attorney issued by an organization and a power of attorney issued to an individual. Types of power of attorney form its types. There are three types of powers of attorney: general, special and one-time. The goal pursued by the principal determines the type of power of attorney. In order to avoid incidents or misconduct, the power of attorney specifies in which structure, in which authority and for what purpose the trustee will represent the interests of the principal. The general power of attorney covers the entire scope of the client's actions and is suitable both for legal and physical purposes persons. A special power of attorney is issued to an attorney for carrying out certain actions and at a certain time. With such power of attorney, the authorized representative will be able to conduct representation in a specialized body and conclude only homogeneous transactions. A special power of attorney is more suitable for legal agents. A power of attorney is issued for the performance of one action or transaction, after which it loses its legal force. This kind is not very practical and convenient for legal entities, therefore it is preferable for an attorney to be an individual. The trust is issued for the term that the trustee wishes, but no more than for three years. In some cases, you can notarize a transfer.