A New Jersey limited power of attorney form is created by a principal for the purposes of delegating certain financial powers to an appointed individual (attorney-in-fact). While this agreement is in place, the attorney-in-fact will be given authorization to act on the principal’s behalf. Their powers will be limited to specific tasks and powers as set forth in the document. This type of power of attorney is often used when the principal has one particular assignment that needs to be completed, so the document remains in effect only for a short period of time.
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