Phil (satyrblade) wrote in little_details,

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Power of Attorney

 Quick questions for the community law-dogs: 

If two people have exchanged power of attorney over one another's property, what does one of them need to do in order to exercise it over the other?

How long would it take to do so if they were both lawyers, and conscious of their circumstances? 

Would POA allow them access to one another's bank accounts? 

Would the other partner be alerted to such an exercise of power? 

How might a hot shot legal eagle be able to get around the usual requirements for such actions? 

Would a back door allow one to act without the other's permission? 

And how might one business partner transfer the legal obligations of a contract to another business partner? 

Background of the story: 

One partner cleans out the other partner's bank account, as well as all properties of their shared company. This is illegal,but he disappears and neither the police northe other partner can find him. Eventually, a clue drops and the robbed partner finds his treacherous buddy. The robbed partner also bears a supernatural contract that may be passed along to the partner who holds the "perceived value" of the contract - in other words, the party that benefits from it is the party that's stuck with its conditions. How can my protagonist (the robbed partner) clean out the theif's bank account and transfer the supernatural contract's provisions on to his former partner... or can he do soat all? (The laws allowing this, BTW, don't have to be HUMAN laws, just laws recognizable as contractual obligations.)

PS: The tale takes place in the US. - New York, to be specific. 

And yes, the robbed partner realizes that he was really stupid. His former partner was his mentor, and when the guy cleaned out the office, he specifically took the POA contracts with him. Said partner then bolted from the USA. The supernatural contract, however, can follow him anywhere, so long as the robbed partner finds out where the thief lives.


Tags: usa: government (misc), usa: new york (misc)

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