A Power of Attorney is a legal document often created and executed in a solicitor’s office. While the original may be stored with the solicitor or taken home for safe keeping we are often asked whether the Power of Attorney needs to be registered.
The answer depends on the use of the Power of Attorney.
If the Power of Attorney is being used to deal with land then the document must be registered with NSW Land and Registry Services.
This is so as section 52 of the Powers of Attorney Act 2003 provides that a conveyance or other deed affecting land under a power of attorney has no effect unless the instrument creating the power has been registered.
Registration is simply matter of lodging the Power of Attorney with applicable filing fee at NSW Land and Registry Services. Once lodged the Power of Attorney will have stamped within a Lands book and number which should be referenced when signing documents pursuant to the Power of Attorney.
If a contract for sale of land has already been signed pursuant to the Power of Attorney then this act is validated once the Power of Attorney is registered as the contract will have effect as if the Power of Attorney was registered before that time in accordance with s.52(3).
A Power of Attorney is a simple, cost effective and key estate planning tool. If you require a Power of Attorney or wish to register or update your Power of Attorney then get in touch with your nearest Prime Lawyers office.
We have wills and power of attorney lawyers located at Sydney, Parramatta, Chatswood, Sutherland and Wollongong.
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