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- Title 26. Infants and Incompetents
- Chapter 1a. Alabama Uniform Power of Attorney
- Article 2. Authority
Ala. Code § 26-1A-205 (1975) Tangible Personal Property
Library | Alabama Statutes |
Edition | 2023 |
Currency | Current with legislation from the 2023 Regular and Special Sessions. |
Year | 2023 |
Citation | Ala. Code § 26-1A-205 (1975) |
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:
(1) demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;
(2) sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or, otherwise dispose of tangible personal property or an interest in tangible personal property;
(3) grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;
(4) release, assign, satisfy, or enforce by litigation or otherwise, a security interest, lien, or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;
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