A New York limited power of attorney form is used to elect an attorney-in-fact for the purposes of representing the principal in one or a group of specific financial matters. Often this arrangement will terminate upon completion of the task(s) or upon the termination date contained in the agreement, whichever occurs first. An example of a useful limited power of attorney application would be if a person preferred that an agent handle the closing of a real property transaction. In this case, the power of attorney form would contain language that grants the attorney-in-fact specific powers related to the real estate transaction. This power of attorney form becomes void as soon as the principal becomes incapacitated, should a debilitating incident occur.
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