Types of Power of Attorney in Thailand
There are different types of POAs, depending on the scope of authority granted:
General Power of Attorney
This type grants the agent broad powers to act on behalf of the principal in various matters.
It could cover areas like handling bank accounts, signing contracts, managing properties, and making decisions on behalf of the principal.
Special Power of Attorney:
This grants the agent authority to act only for specific tasks or transactions, such as selling property or signing a specific contract.
It is more limited and does not give the agent general control over the principal’s affairs.
Durable Power of Attorney:
This type of POA remains effective even if the principal becomes incapacitated or unable to make decisions for themselves (e.g., due to illness or injury).
In Thailand, this type of POA can be used to manage the affairs of someone who is mentally incapacitated, but it must be specifically stated in the document.
Revocable Power of Attorney:
The principal can revoke or cancel this type of POA at any time, as long as they are mentally competent to do so.
A revocation must be done in writing and typically requires informing the agent.