In Hong Kong, there are usually two types of Power of Attorney. One is a General Power of Attorney, the other is Power of Attorney with property(ies) specified.
A General Power of Attorney allows your attorney to handle all your matters, i.e. not only dealing with real estate property but also your bank accounts or other investments, e.g. stocks. However, some banks may still have their own forms to sign for authorizing a third party to handle matters on your behalf. If you plan to buy a property in Hong Kong but may not be able to deal with it in person, you may also prepare a General Power of Attorney so that your attorney can buy property on your behalf. The General Power of Attorney should be in the specified form in accordance with the Powers of Attorney Ordinance, Cap. 31 of Hong Kong.
If you just want to sell your property(ies) in Hong Kong, it is advised that you should prepare a Power of Attorney specifying the property(ies) that you own and plan to sell. In that case, you limit the power of your attorney and can better safeguard your interest. If you have a bank account in Hong Kong, you may even specify the purchase price to deposit into your bank account instead of the attorney’s account.
You may also consider appointing two or more persons to be your attorneys. In that case, you will have to state whether the attorneys should act jointly or jointly or severally.
A Power of Attorney is valid unless and until it is revoked by the donor or by the death of the donor.
The General Power of Attorney can be signed before a notary public in Canada for use in Hong Kong. However, if the General Power of Attorney is intended to use in any property transaction, whether for sale or for purchase, then it will have to be legalized by the Chinese Consulate if it is signed before a notary public.
However, if you sign the General Power of Attorney or the Power of Attorney with property(ies) specified before Katherine Lam as a Hong Kong solicitor, the Power of Attorney can be sent back to Hong Kong to use right away (see How to sell properties Hong Kong without travelling there?).
If you want to arrange signing a Power of Attorney to deal with Hong Kong real and personal properties, contact Katherine Lam at 437.900.1688 or klam@lamlawfirm.ca.
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Disclaimer: The information contained in this article is general in nature and does not constitute legal advice. Please contact Lam Law Firm Professional Corporation for legal advice.
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