Power of Attorney Form for Oregon

DOCUMENT CONTROL AND GENERAL INFORMATION

Document Title: Oregon Statutory Durable Power of Attorney Document ID: POA-OR-2024-INST-001 Effective Date: [Effective Date] Version: 1.0.4 Governing Jurisdiction: State of Oregon Statutory Authority: Oregon Revised Statutes (ORS) Chapter 127 (Uniform Power of Attorney Act)

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STATUTORY & LEGAL COMPLIANCE NOTICE

NOTICE TO THE PRINCIPAL: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE DEFINED IN THE OREGON UNIFORM POWER OF ATTORNEY ACT, ORS 127.001 TO 127.045. IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO.

NOTICE TO THE AGENT: BY ACCEPTING OR ACTING UNDER THIS APPOINTMENT, YOU ASSUME THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN AGENT. THESE DUTIES INCLUDE THE DUTY TO ACT IN GOOD FAITH, WITHIN THE SCOPE OF THE AUTHORITY GRANTED, AND IN THE PRINCIPAL'S BEST INTEREST.

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1. PARTIES AND RECITALS

1.1 THE PRINCIPAL: This Durable Power of Attorney is executed by [Principal Full Legal Name], residing at [Principal Physical Address], County of [County Name], State of Oregon (hereinafter referred to as the "Principal").

1.2 THE AGENT: The Principal hereby designates and appoints [Agent Full Legal Name], residing at [Agent Physical Address], as the Principal's true and lawful Attorney-in-Fact (hereinafter referred to as the "Agent").

1.3 SUCCESSOR AGENT (OPTIONAL): If the Agent is unable or unwilling to serve, the Principal hereby appoints [Successor Agent Full Legal Name], residing at [Successor Agent Address], as the Successor Agent.

1.4 RECITALS: WHEREAS, the Principal desires to grant the Agent full power and authority to manage the Principal’s financial affairs, property, and legal interests; and WHEREAS, the Principal intends for this instrument to be a "Durable" Power of Attorney, meaning it shall not be affected by the subsequent disability, incapacity, or incompetence of the Principal.

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2. OPERATIVE CLAUSES & LEGAL TERMS

2.1 SCOPE OF AUTHORITY AND ENGAGEMENT

The Principal grants to the Agent the full power and authority to exercise or perform any act, duty, or right that the Principal now has or may hereafter acquire the legal right to perform, relative to any person, item of property (real, personal, or mixed), or any other legal interest. The Agent's authority includes, but is not limited to: (a) Real Property: To buy, sell, lease, mortgage, encumber, or manage any interest in real property located in Oregon or elsewhere. (b) Tangible Personal Property: To manage, sell, or transfer ownership of vehicles, equipment, and household goods. (c) Financial Institutions: To access, open, close, and manage accounts at banks, credit unions, and brokerage firms; to withdraw funds and sign checks. (d) Stocks and Bonds: To trade, vote proxies, and exercise options regarding securities. (e) Business Operations: To operate, buy, sell, or dissolve any business interest or entity owned by the Principal. (f) Insurance and Annuities: To maintain, cancel, or change beneficiaries on insurance policies (subject to statutory limitations).

2.2 COMPENSATION AND REIMBURSEMENT

(a) Agent Compensation: The Agent shall be entitled to [Choose One: "Reasonable Compensation" OR "an amount equal to $[Amount] per [Hour/Month]"] for services rendered under this Power of Attorney. (b) Reimbursement: The Agent is entitled to reimbursement for all reasonable, documented out-of-pocket expenses incurred in the performance of their duties on behalf of the Principal. (c) Payment Terms: Compensation and reimbursements shall be paid from the Principal’s assets. The Agent shall maintain a detailed ledger of all time spent and expenses incurred, which shall be provided to the Principal or the Principal’s personal representative upon request.

2.3 TERM AND TERMINATION

(a) Effectiveness: This Power of Attorney is effective immediately upon execution. (b) Durability: This Power of Attorney shall not be affected by the subsequent disability or incapacity of the Principal. (c) Termination for Convenience: The Principal may revoke this Power of Attorney at any time by providing written notice of revocation to the Agent and, if real property is involved, recording such revocation in the county records. (d) Termination by Law: This Power of Attorney terminates automatically upon the death of the Principal.

2.4 INTELLECTUAL PROPERTY OWNERSHIP

The Agent acknowledges that any work product, records, data, or intellectual property generated by the Agent while exercising authority under this document is considered a "Work Made for Hire" (as defined under 17 U.S.C. § 101) and shall be the sole and exclusive property of the Principal. To the extent any such work does not qualify as a work made for hire, the Agent hereby irrevocably assigns all rights, title, and interest in such property to the Principal.

2.5 MUTUAL CONFIDENTIALITY AND NON-DISCLOSURE

The Agent shall maintain strict confidentiality regarding the Principal’s financial affairs, medical information, and personal business. The Agent shall not disclose any "Confidential Information" (defined as non-public information concerning the Principal) to any third party except as strictly necessary to carry out the Agent’s duties or as required by law.

2.6 REPRESENTATIONS AND WARRANTIES

The Principal represents and warrants that they are of sound mind, are of legal age, and are executing this document voluntarily and without duress. The Agent, by acting under this document, represents and warrants that they have the legal capacity to serve and have not been convicted of a felony involving financial dishonesty.

2.7 LIMITATION OF LIABILITY AND INDEMNIFICATION

(a) Exculpation: The Agent shall not be liable to the Principal or the Principal’s successors for any error of judgment or for any loss arising out of the Agent’s actions, provided the Agent acted in good faith and within the scope of their authority. (b) Indemnification: The Principal’s estate shall indemnify and hold the Agent harmless from any and all claims, damages, or liabilities arising from the Agent’s performance of duties, excluding any liability resulting from the Agent’s gross negligence, willful misconduct, or fraud.

2.8 DISPUTE RESOLUTION AND ARBITRATION

Any dispute, controversy, or claim arising out of or relating to this Power of Attorney, including its formation or breach, shall be settled by binding arbitration in [County Name], Oregon, in accordance with the rules of the American Arbitration Association. Judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

2.9 GOVERNING LAW AND JURISDICTION

This document shall be governed by, construed, and enforced in accordance with the laws of the State of Oregon, specifically the Oregon Uniform Power of Attorney Act. Any legal proceedings not subject to arbitration shall be brought in the Circuit Court for the County of [County Name], Oregon.

2.10 MISCELLANEOUS PROVISIONS

(a) Severability: If any provision of this document is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect. (b) Counterparts: This document may be executed in counterparts, each of which shall be deemed an original. (c) Entire Agreement: This instrument constitutes the entire agreement between the Principal and Agent regarding the Power of Attorney and supersedes any prior oral or written understandings.

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3. EXECUTION AND FORMAL SIGNATURE BLOCKS

IN WITNESS WHEREOF, the Principal has executed this Durable Power of Attorney on the date set forth below.

FOR THE PRINCIPAL:

Signature: _____________________________________ Printed Name: [Principal Full Legal Name] Date: [Date of Signing]

STATE OF OREGON COUNTY OF [COUNTY NAME]

This instrument was acknowledged before me on this ____ day of ___________, 20, by [Principal Full Legal Name].

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NOTARY PUBLIC FOR THE STATE OF OREGON My Commission Expires: _______________

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FOR THE AGENT (ACCEPTANCE OF APPOINTMENT):

I, [Agent Full Legal Name], have read the foregoing Power of Attorney and am the person identified therein as the Agent for the Principal. I hereby acknowledge my legal duties as an Agent and accept the appointment.

Signature: _____________________________________ Printed Name: [Agent Full Legal Name] Title: Attorney-in-Fact / Agent Date: [Date of Signing]

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4. STEP-BY-STEP EXECUTION & FILING GUIDE

STEP 1: COMPLETION OF DATA FIELDS

• Open the document in Microsoft Word, Google Docs, or a compatible PDF editor.
• Use the Find and Replace function (Ctrl+F) to locate all bracketed terms (e.g., [Principal Full Legal Name]).
• Ensure the [Effective Date] is the date the Principal signs the document.

STEP 2: VERIFICATION OF CAPACITY

• Ensure the Principal is of sound mind and not under influence or duress. In Oregon, if capacity is questioned, a contemporaneous letter from a physician is recommended to be kept with this document.

STEP 3: PHYSICAL EXECUTION & NOTARIZATION

• Signature: The Principal must sign the document in the physical presence of a Notary Public.
• Notarization: Under ORS 127.040, a Power of Attorney must be acknowledged before a notary public to be legally sufficient for many third-party institutions (especially banks and title companies).
• Witnesses: While Oregon law emphasizes notarization, having two disinterested witnesses sign is an additional best practice for institutional acceptance.

STEP 4: DIGITAL EXECUTION (IF APPLICABLE)

• If using DocuSign or Adobe Sign, ensure the platform provides a Qualified Electronic Signature and that the Notary performs a Remote Online Notarization (RON) compliant with Oregon Senate Bill 765.

STEP 5: FILING AND RECORDING

• County Records: If the Agent is expected to sell or transfer real estate, the original notarized Power of Attorney MUST be recorded in the County Clerk’s office in the Oregon county where the property is located.
• Financial Institutions: Deliver certified copies to the Principal’s banks, investment firms, and insurance companies.

STEP 6: RECORD RETENTION

• The Agent must maintain the Original Document in a fireproof safe or secure digital vault.
• The Agent must maintain a "Record of Actions," including receipts, invoices, and a log of all financial transactions performed under this authority.