An Oregon limited power of attorney form is executed for the purposes of completing one or a number of specific financial transactions or negotiations. When this document is signed by the principal, they acknowledge that their appointed attorney-in-fact is authorized to represent them in all matters pertaining to the task(s) assigned in the power of attorney document. A limited power of attorney is useful for situations where the principal wishes to put certain restrictions on the attorney-in-fact’s powers as well as create a temporary arrangement (ending upon completion of the transaction or on a specified date). This type of document can be revoked at any time and becomes ineffective if the principal should be incapable of making competent decisions for themselves.
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