POWER OF ATTORNEY IN BULGARIA
Before crediting the power of attorney, you must agree with the notary to sign the notary deed itself.
The power of attorney for the sale of a property is explicit: the property must be described in detail as location, quadrature, the basement or ceiling, the common parts of the building, the right of construction or the yard.
You must indicate whether the authorized person has the right to negotiate the terms of the notarial deed, whether he has the right to receive the sale price, and so on.
If the person you authorize is the co-owner of the property or will be a proxy of third parties, it should be explicitly stated in the power of attorney that he has the right to negotiate with himself as a proxy or co-owner.
TIP: Read carefully the documents you sign. Do not authorize people you do not know or trust.
A power of attorney is a document to be signed only by the party issuing it, that is, the authorized person does not undertake to perform the assignment. To make arrangements for this, you need an additional contract signed by both parties.
A power of attorney is required when the owner of a real estate wants to dispose of (sell, donate, replace, transfer over viewing and maintenance, establish a right in rem, etc.), but is unable to attend the transaction with the notary.
According to the SCC’s requirements in a power of attorney of this type, it is necessary to have a description of the specific properties to which it refers. For this reason, carry and submit a document of ownership to the notary in order to make the document true.
It is still debatable whether the sale price should be explicitly stated.
The power of attorney for disposal of a real estate may be temporary or indefinite, but together with it 2 signatures are signed. declarations – The first is under Art. 264, para. 1 of the TIPC – with which the person declares that there are no outstanding obligations for taxes, duties and obligatory insurance contributions, which have not been extinguished; The second declaration – the one under Art. 25, para. 8 of the LNLD is for citizenship and civil status. The first statement is valid for 6 months, so even if the power of attorney is indefinite, the declaration must be renewed – signed and authenticated again before a Notary.
Validity of the power of attorney
The validity (validity) of the power of attorney is determined by the Authorizing Officer, but it also depends on various factors, especially those in practice.
There are several ways to determine the validity of the power of attorney.
In order to determine its validity, the power of attorney may contain any of the texts listed below.
(Third countries, authorities and individuals (notably banking institutions and notaries) to whom the power of attorney will be addressed have the right to set their validity requirements on a time-limit.)
1. The power of attorney shall record the period of its validity by the authorizing officer.
2. The power of attorney is valid until the designated action for which it has been issued.
3. Power of attorney applies until it is withdrawn by the Authorizing Officer (but not more than 10 years from the date of issue).
4. Power of attorney is indefinite. (but no more than 10 years from the date of issue).
Termination of the power of attorney
The power of attorney shall terminate upon one of the following:
1. The authorizing officer shall withdraw the power of attorney.
2. The authorized person shall refuse to execute it.
3. The term specified in the power of attorney has expired as a term of validity.
4. With the death of one of the parties under the power of attorney.
5. With the seizure of the document by a body of authority or its detention as a written proof by a notary and others. (Here the document is valid but can not be used by the authorized person).
Important facts about the power of attorney
1. The power of attorney shall be valid only in the original. If the original of the power of attorney is not presented, it may be assumed that it was withdrawn by the authorizing officer.
2. The notarial power of attorney is the most commonly falsified / falsified document. We remind you that this act is being prosecuted and punished by the law enforcement and judicial authorities.
Withdrawal of Power of Attorney
To withdraw a notarized power of attorney, please contact the notary who certified it. The withdrawal of the power of attorney shall be by several means, depending on the reason for the withdrawal; what are the relationships between the parties; is there a danger of abuse? what volume of rights (types of rights) contains the power of attorney; and others.
Tip : If the power of attorney is entitled to operate a bank account, first notify your bank to note this fact in your bank account.
Types of power of attorney
According to the purpose for which they are issued and their content, the proxies can be divided into the following types:
– explicit power of attorney (contains explicitly specified rights or rights for a specific site / objects);
– a general power of attorney (it contains listed rights that allow for representation with a broader scope, very often this power of attorney is called ” general ” in everyday life, but such a definition has never been given by the law, so there is no ” general power of attorney” !)
– Power of attorney (sale, donation, exchange) of immovable property / transfer or establishment of real rights over immovable property.
– Re-authorizing. It is issued on the basis of a notarized power of attorney in which it is explicitly stated that the authorized person has the right to re-authorize other persons (to grant the rights under this power of attorney to third parties, in whole or in part).
Types of powers of attorney according to Notarial Tariff
1. According to the number of delegates (signers).
2. By type of authorization and re-authorization.
3. According to the number of redeployed persons, and as such, the redeployed person is the proxy. Cumulatively with the following conditions.
4. According to the type of power of attorney and from the point of view of the LNHM Notary Public:
– for lease;
– for the acquisition, sale, exchange, division of real estate (in the case of transfer or establishment of real rights over immovable property);
Notarial authentication (authentication) of a power of attorney
At the power of attorney, the notary certifies the signature of the person on whose behalf the power of attorney – the principal (s) originates.
The certificate of attestation shall be certified at the same time as the date of issuance of the power of attorney. The date of the notarial certification is also of legal significance.
A power of attorney for disposal (sale, donation, exchange) of immovable property / for establishment or alteration of real rights / incl. the notary certifies the signature of the authorizing officer and his / her own names. The content of the document is also verified. / All this is certified as the date of issue of the document / In this type of certification, the notary retains an original copy of the document, which is charged as a copy.