What is a Durable Power of Attorney?

DATE: July 9, 2019 | CATEGORY: Lenders

In civil-law Louisiana, a power of attorney is durable by definition, meaning without more said in the power of attorney (mandate or procuration) the POA is valid until the death of the Principal, or the POA is expressly terminated by the Principal, or the Principal is interdicted and a curator is appointed.  In most common-law states the POA is not durable unless there is expressly recited in the POA a statement that the POA is durable and continuous until terminated by the Principal, death of the Principal or appointment of a curator.  When Preferred Title is requested to prepare a POA for a Principal who is domiciled out of state we include the following statement.

This Power of Attorney is effective immediately and will continue until it is revoked by me. Any third party who receives a copy of this Power of Attorney may act under it.  Revocation of this Power of Attorney is not effective as to a third party until the third party receives actual notice of the revocation.  I agree to indemnify the third party for any claims that arise against the third party due to reliance on this Power of Attorney.  This power of attorney is not affected by my subsequent disability or incapacity.