Florida · statute · Fla. Stat. ch. 709 · 36 active provisions
Powers of appointment over any property, real, personal, intangible or mixed, may be released, in whole or in part, by a written instrument signed by the donee or donees of such powers. Such written releases shall be signed in the presence of two witnesses but need not be sealed, acknowledged or recorded in order to be…
If property subject to a power of appointment is held in trust by a person, firm or corporation other than the donee or donees of the power, a written release, in whole or in part, of a power to appoint the same shall be delivered to such trustee or trustees before the written release becomes legally effective. In no o…
Any power of appointment wholly released by a written instrument signed by the donee or donees of such power shall be, in legal effect, completely revoked, and shall not, after such release, be subject to being exercised in any manner whatsoever. Any power of appointment partially released by a written instrument signe…
All releases, in whole or in part, of powers of appointment heretofore executed in a manner that conforms with the provisions of this law be and they are hereby validated and shall be given the same force and effect as if executed subsequently to the effective date of this law.
Powers of appointment referred to in this law shall include not only those recognized as such by general law but also those designated as such under the tax law of the United States.
No such release, in whole or in part, of a power of appointment shall affect the title to property of any bona fide purchaser for value who does not have notice or knowledge of such release.
This part may be cited as the “Florida Power of Attorney Act.”
As used in this part, the term:(1) “Agent” means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney in fact, or otherwise. The term includes an original agent, co-agent, and successor agent.(2) “Another state” means a state of the United States, the Distr…
This part applies to all powers of attorney except:(1) A proxy or other delegation to exercise voting rights or management rights with respect to an entity;(2) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose;(3) A power to the exten…
Except as otherwise provided under this part, a power of attorney is durable if it contains the words: “This durable power of attorney is not terminated by subsequent incapacity of the principal except as provided in chapter 709, Florida Statutes,” or similar words that show the principal’s intent that the authority co…
(1) The agent must be a natural person who is 18 years of age or older or a financial institution that has trust powers, has a place of business in this state, and is authorized to conduct trust business in this state.(2) A power of attorney must be signed by the principal and by two subscribing witnesses and be acknow…
(1) A power of attorney executed on or after October 1, 2011, is valid if its execution complies with s. 709.2105.(2) A power of attorney executed before October 1, 2011, is valid if its execution complied with the law of this state at the time of execution.(3) A power of attorney executed in another state which does n…
The meaning and effectiveness of a power of attorney is governed by this part if the power of attorney:(1) Is used in this state; or(2) States that it is to be governed by the laws of this state.
(1) Except as provided in this section, a power of attorney is exercisable when executed.(2) If a power of attorney executed before October 1, 2011, is conditioned on the principal’s lack of capacity and the power of attorney has not become exercisable before that date, the power of attorney is exercisable upon the del…
(1) A power of attorney terminates when:(a) The principal dies;(b) The principal becomes incapacitated, if the power of attorney is not durable;(c) The principal is adjudicated totally or partially incapacitated by a court, unless the court determines that certain authority granted by the power of attorney is to be exe…
(1) A principal may revoke a power of attorney by expressing the revocation in a subsequently executed power of attorney or other writing signed by the principal. The principal may give notice of the revocation to an agent who has accepted authority under the revoked power of attorney.(2) Except as provided in subsecti…
(1) A principal may designate two or more persons to act as co-agents. Unless the power of attorney otherwise provides, each co-agent may exercise its authority independently.(2) A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or…
(1) Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal.(2) Unless the power of attorney otherwise provides, a qualified agent is entitled to compensation that is reasonable under the circumstances.(3) Notwithstanding any prov…
Except as otherwise provided in the power of attorney, a person accepts appointment as an agent by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. The scope of an agent’s acceptance is limited to those aspects of the power of attorney for which the agent…
(1) An agent is a fiduciary. Notwithstanding the provisions in the power of attorney, an agent who has accepted appointment:(a) Must act only within the scope of authority granted in the power of attorney. In exercising that authority, the agent:1. May not act contrary to the principal’s reasonable expectations actuall…
A power of attorney may provide that the agent is not liable for any acts or decisions made by the agent in good faith and under the power of attorney, except to the extent the provision:(1) Relieves the agent of liability for breach of a duty committed dishonestly, with improper motive, or with reckless indifference t…
(1) A court may construe or enforce a power of attorney, review the agent’s conduct, terminate the agent’s authority, remove the agent, and grant other appropriate relief.(2) The following persons may petition the court:(a) The principal or the agent, including any nominated successor agent.(b) A guardian, conservator,…
An agent who violates this part is liable to the principal or the principal’s successors in interest for the amount required to:(1) Restore the value of the principal’s property to what it would have been had the violation not occurred; and(2) Reimburse the principal or the principal’s successors in interest for the at…
Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving notice to the principal, to the guardian if the principal is incapacitated and one has been appointed for the principal, and to any co-agent, or if none, the next successor agent.
(1)(a) A third person who in good faith accepts a power of attorney that appears to be executed in the manner required by law at the time of its execution may rely upon the power of attorney and the actions of the agent which are reasonably within the scope of the agent’s authority and may enforce any obligation create…