Current as of January 01, 2020 | Updated by FindLaw Staff
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In a statutory power of attorney the language granting power with respect to tangible personal property transactions empowers the agent to:
(1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property;
(2) Sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, create a security interest in, pawn, grant options concerning, lease, sublease to others, or otherwise dispose of tangible personal property or an interest in tangible personal property;
(3) Release, assign, satisfy, or enforce by litigation or otherwise, a mortgage, security interest, encumbrance, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property; and
(4) Do an act of management or conservation with respect to tangible personal property or an interest in tangible personal property on behalf of the principal, including:
(A) Insuring against casualty, liability, or loss;
(B) Obtaining or regaining possession, or protecting the property or interest, by litigation or otherwise;
(C) Paying, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;
(D) Moving from place to place;
(E) Storing for hire or on a gratuitous bailment; and
(F) Using, altering, and making repairs or alterations.
Cite this article: FindLaw.com - District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 21-2105. Construction of power relating to tangible personal property transactions. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-iii-decedents-estates-and-fiduciary-relations/dc-code-sect-21-2105/
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