- July 4, 2007 at 12:33 pm #52993
Can anyone help.
I’m buying a spanish property that is owned in a french company name.
in May2007 the managing director of the french company gave power of attorney to their spanish solicitor to sell the property at the notary.
the completion date is set for end of July2007.
in June2007 the original managing director was replaced by a new managing director.
Is the power of attorney still valid?
Please only answer if you know for sure. My head’s spinning enough!
- July 4, 2007 at 4:02 pm #73332
If the POA was given by the MD acting on behalf of the French company and the company has not changed then it should still be valid. However it does depend on the wording in the POA and so no one could say definitely without seeing the text.
- July 5, 2007 at 10:05 am #73344
Yes, the best thing is to have your lawyer, or even the Notary who will act in the signing of this new purchase, revising the POA. ANyhow, the Notary will have to check this anyhow, but better to advance that item so there will be time for a change if the POa is not valid.
Of course, the new legal representative will have to bring his own company power representation deed to the signing.
- July 5, 2007 at 11:31 am #73347
on a different point, if an embargo on part of a developers assets is applied for, what points/issues guide the judge to approve it not?
- July 9, 2007 at 8:54 am #73421
An embargo is always decided on an executive title such as executive documents:( i.e valid cheque) or a COURT DECISSION. In a cancellation process for breach of contract the options would be: a valid and executable bank guarantee or the firm decission of a Judge after a litigation process.
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