§ 32A-2. Powers conferred by the Statutory Short Form Power of Attorney set out in G.S. 32A-1.
§ 32A‑2. Powersconferred by the Statutory Short Form Power of Attorney set out in G.S. 32A‑1.
The Statutory Short Form Powerof Attorney set out in G.S. 32A‑1 confers the following powers on theattorney‑in‑fact named therein:
(1) Real PropertyTransactions. To lease, purchase, exchange, and acquire, and to agree,bargain, and contract for the lease, purchase, exchange, and acquisition of,and to accept, take, receive, and possess any interest in real propertywhatsoever, on such terms and conditions, and under such covenants, as saidattorney‑in‑fact shall deem proper; and to maintain, repair,improve, manage, insure, rent, lease, sell, convey, subject to liens, mortgage,subject to deeds of trust, and in any way or manner deal with all or any partof any interest in real property whatsoever, that the principal owns at thetime of execution or may thereafter acquire, for under such terms andconditions, and under such covenants, as said attorney‑in‑factshall deem proper.
(2) Personal PropertyTransactions. To lease, purchase, exchange, and acquire, and to agree,bargain, and contract for the lease, purchase, exchange, and acquisition of,and to accept, take, receive, and possess any personal property whatsoever,tangible or intangible, or interest thereto, on such terms and conditions, andunder such covenants, as said attorney‑in‑fact shall deem proper;and to maintain, repair, improve, manage, insure, rent, lease, sell, convey,subject to liens and mortgages, and hypothecate, and in any way or manner dealwith all or any part of any personal property whatsoever, tangible orintangible, or any interest therein, that the principal owns at the time ofexecution or may thereafter acquire, under such terms and conditions, and undersuch covenants, as said attorney‑in‑fact shall deem proper.
(3) Bond, Share, Stock,Securities and Commodity Transactions. To request, ask, demand, sue for,recover, collect, receive, and hold and possess any bond, share, instrument ofsimilar character, commodity interest or any instrument with respect theretotogether with the interest, dividends, proceeds, or other distributionsconnected therewith, as now are, or shall hereafter become, owned by, or due,owing payable, or belonging to, the principal at the time of execution or inwhich the principal may thereafter acquire interest, to have, use, and take alllawful means and equitable and legal remedies, procedures, and writs in thename of the principal for the collection and recovery thereof, and to adjust,sell, compromise, and agree for the same, and to make, execute, and deliver forthe principal, all endorsements, acquittances, releases, receipts, or othersufficient discharges for the same.
(4) Banking Transaction. To make, receive, sign, endorse, execute, acknowledge, deliver, and possesschecks, drafts, bills of exchange, letters of credit, notes, stockcertificates, withdrawal receipts and deposit instruments relating to accountsor deposits in, or certificates of deposit of, banks, savings and loan or otherinstitutions or associations for the principal.
(5) Safe Deposits. Tohave free access at any time or times to any safe deposit box or vault to whichthe principal might have access as lessee or owner.
(6) Business OperatingTransactions. To conduct, engage in, and transact any and all lawful businessof whatever nature or kind for the principal.
(7) InsuranceTransactions. To exercise or perform any act, power, duty, right orobligation whatsoever in regard to any contract of life, accident, health,disability or liability insurance or any combination of such insurance procuredby or on behalf of the principal prior to execution; and to procure new,different or additional contracts of insurance for the principal and todesignate the beneficiary of any such contract of insurance, provided, however,that the agent himself cannot be such beneficiary unless the agent is spouse,child, grandchild, parent, brother or sister of the principal.
(8) Estate Transactions. To request, ask, demand, sue for, recover, collect, receive, and hold andpossess all legacies, bequests, devises, as are, owned by, or due, owing,payable, or belonging to, the principal at the time of execution or in whichthe principal may thereafter acquire interest, to have, use, and take all lawfulmeans and equitable and legal remedies, procedures, and writs in the name ofthe principal for the collection and recovery thereof, and to adjust, sell,compromise, and agree for the same, and to make, execute, and deliver for theprincipal, all endorsements, acquittances, releases, receipts, or othersufficient discharges for the same.
(9) PersonalRelationships and Affairs. To do all acts necessary for maintaining thecustomary standard of living of the principal, the spouse and children, andother dependents of the principal; to provide medical, dental and surgicalcare, hospitalization and custodial care for the principal, the spouse, andchildren, and other dependents of the principal; to continue whatever provisionhas been made by the principal, for the principal, the spouse, and children,and other dependents of the principal, with respect to automobiles, or othermeans of transportation; to continue whatever charge accounts have beenoperated by the principal, for the convenience of the principal, the spouse,and children, and other dependents of the principal, to open such new accountsas the attorney‑in‑fact shall think to be desirable for theaccomplishment of any of the purposes enumerated in this section, and to paythe items charged on such accounts by any person authorized or permitted by theprincipal or the attorney‑in‑fact to make such charges; to continuethe discharge of any services or duties assumed by the principal, to anyparent, relative or friend of the principal; to continue payments incidental tothe membership or affiliation of the principal in any church, club, society,order or other organization, or to continue contributions thereto.
Inthe event the attorney‑in‑fact named pursuant to G.S. 32A‑1makes a decision regarding the health care of the principal that iscontradictory to a decision made by a health care agent appointed pursuant toArticle 3 of this Chapter, the decision of the health care agent shall overrulethe decision of the attorney‑in‑fact.
(10) Social Security andUnemployment. To prepare, execute and file all social security, unemploymentinsurance and information returns required by the laws of the United States, orof any state or subdivision thereof, or of any foreign government.
(11) Benefits from MilitaryService. To execute vouchers in the name of the principal for any and allallowances and reimbursements payable by the United States, or subdivisionthereof, to the principal, arising from or based upon military service and toreceive, to endorse and to collect the proceeds of any check payable to theorder of the principal drawn on the treasurer or other fiscal officer ordepository of the United States or subdivision thereof; to take possession andto order the removal and shipment, of any property of the principal from anypost, warehouse, depot, dock or other place of storage or safekeeping, eithergovernmental or private, to execute and to deliver any release, voucher,receipt, bill of lading, shipping ticket, certificate or other instrument whichthe agent shall think to be desirable or necessary for such purpose; toprepare, to file and to prosecute the claim of the principal to any benefit orassistance, financial or otherwise, to which the principal is, or claims to be,entitled, under the provisions of any statute or regulation existing at thecreation of the agency or thereafter enacted by the United States or by anystate or by any subdivision thereof, or by any foreign government, whichbenefit or assistance arises from or is based upon military service performedprior to or after execution.
(12) Tax matters. Toprepare, execute, verify and file in the name of the principal and on behalf ofthe principal any and all types of tax returns, amended returns, declaration ofestimated tax, report, protest, application for correction of assessedvaluation of real or other property, appeal, brief, claim for refund, orpetition, including petition to the Tax Court of the United States, inconnection with any tax imposed or proposed to be imposed by any government, orclaimed, levied or assessed by any government, and to pay any such tax and toobtain any extension of time for any of the foregoing; to execute waivers orconsents agreeing to a later determination and assessment of taxes than isprovided by any statute of limitations; to execute waivers of restriction onthe assessment and collection of deficiency in any tax; to execute closingagreements and all other documents, instruments and papers relating to any taxliability of any sort; to institute and carry on through counsel any proceedingin connection with determining or contesting any such tax or to recover any taxpaid or to resist any claim for additional tax on any proposed assessment orlevy thereof; and to enter into any agreements or stipulations for compromiseor other adjustments or disposition of any tax.
(13) Employment of Agents. To employ agents such as legal counsel, accountants or other professionalrepresentation as may be appropriate and to grant such agents such powers ofattorney or other appropriate authorization as may be required in connectionwith such representation or by the Internal Revenue Service or othergovernmental authority.
(14) Gifts to Charities,and to Individuals Other Than the Attorney‑In‑Fact.
a. Except as providedin G.S. 32A‑2(14)b., to make gifts of any of the principal's property toany individual other than the attorney‑in‑fact or to anyorganization described in sections 170(c) and 2522(a) of the Internal RevenueCode or corresponding future provisions of federal tax law, or both, inaccordance with the principal's personal history of making or joining in themaking of lifetime gifts. As used in this subdivision "Internal RevenueCode" means the "Code" as defined in G.S. 105‑228.90.
b. Except as providedin G.S. 32A‑2(14)c., or unless gifts are expressly authorized by thepower of attorney under G.S. 32A‑2(15), a power described in G.S. 32A‑2(14)a.may not be exercised by the attorney‑in‑fact in favor of theattorney‑in‑fact or the estate, creditors, or creditors of theestate of the attorney‑in‑fact.
c. If the powerdescribed in G.S. 32A‑2(14)a. is conferred upon two or more attorneys‑in‑fact,it may be exercised by the attorney‑in‑fact or attorneys‑in‑factwho are not disqualified by G.S. 32A‑2(14)b. from exercising the power ofappointment as if they were the only attorney‑in‑fact or attorneys‑in‑fact.
d. An attorney‑in‑factexpressly authorized by this section to make gifts of the principal's propertymay elect to request the clerk of the superior court to issue an order to makea gift of the property of the principal.
(15) Gifts to the NamedAttorney‑In‑Fact. To make gifts to the attorney‑in‑factnamed in the power of attorney or the estate, creditors, or creditors of theestate of the attorney‑in‑fact, in accordance with the principal'spersonal history of making or joining in the making of lifetime gifts.
(16) Renunciation of aninterest in or power over property to benefit persons other than the attorney‑in‑fact. To renounce, in accordance with Chapter 31B of the General Statutes, aninterest in or power over property, including a power of appointment, tobenefit persons other than the attorney‑in‑fact or the estate,creditors, or the creditors of the estate of the attorney‑in‑fact,or an individual to whom the attorney‑in‑fact owes a legalobligation of support.
(17) Renunciation of aninterest in or power over property to benefit persons including the attorney‑in‑fact. To renounce, in accordance with Chapter 31B of the General Statutes, an interestin or power over property, including a power of appointment, to benefit personsincluding the attorney‑in‑fact, or the estate, creditors, or thecreditors of the estate of the attorney‑in‑fact, or an individualto whom the attorney‑in‑fact owes a legal obligation of support. (1983, c. 626, s. 1; 1985,c. 618, s. 2; 1987, c. 77, s. 1; 1991, c. 639, s. 2; 1995, c. 331, ss. 2‑4;1999‑385, ss. 1, 2; 2001‑413, s. 5.1; 2009‑48, s. 12.)