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.

CREDIT(S)

(Sept. 18, 1998, D.C. Law 12-147, § 2, 45 DCR 3853.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 21-2105.
Legislative History of Laws
For legislative history of D.C. Law 12-147, see Historical and Statutory Notes following § 21-2101.
Uniform Law
This section is based upon § 5 of the Uniform Statutory Form Power of Attorney Act. See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.

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.

CREDIT(S)

(Sept. 18, 1998, D.C. Law 12-147, § 2, 45 DCR 3853.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 21-2105.
Legislative History of Laws
For legislative history of D.C. Law 12-147, see Historical and Statutory Notes following § 21-2101.
Uniform Law
This section is based upon § 5 of the Uniform Statutory Form Power of Attorney Act. See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.