Solicitor/Power of Attorney

[Pea]

Hi Everyone

I'm in a position, were I can not be in Turkey, on a regular basis, at the moment.
So I'm signing over Power of Attorney, the paper has come, and the Turkish Attorney has all the relevant info, such as tax registration number, the turkish bar number and istanbul bar number. But he does not have his comapny name on the document, it this normal practice, to sign Power of Attorney over to an individual ?
Thanks for any replys

Pea

 

[KONBUL Survey-Turkey]

Pea,

It is a common practice in Turkey to sign Power of Attorney over to an individual. I don't think you should need to worry.

Yunus

 

[Sunny Days]

Hi Pea
It is normal for a named individual to take the power. So long as you trust that individual to act appropriately with his power then all will go as expected. Only point to note is that if there is a delay between creation of the power and execution of the task and that individual leaves the company before the task is completed then the power remains with him and it goes with him....so you need to know from the company and your power of attorney if he leaves before your transaction is completed....of course if you create the power and your power of attorney completes is task straight away then the power becomes used and it is no longer your concern if he leaves the company.

 

[ozsubasi]

Yes it is completely normal and is something we have been involved in on many occasions.
Understandably it can be daunting for some people to sign their POA over to another individual but it is the only way to complete a transaction if the seller cannot be present.