|Selling a bike for a friend. Do i need "power of attorney?"||Ken of Fresno|
Jul 4, 2003 2:44 PM
|A long time friend (known him since the 3rd grade) got transferred to the east coast with his company and left me his bike (and car) to sell. He said "get what you can for them." Someone mentioned something called "power of attorney." What exactly is this and why might I need it? I suspect the bike will sell for more than the car, but I'd like to know the benefits of having "power of attorney" for both/either sale. Legally informed please chime in.
|Paging Doug Sloan and others...(nm)||jtferraro|
Jul 4, 2003 3:43 PM
|re: Selling a bike for a friend. Do i need "power of attorn||nomarack|
Jul 4, 2003 8:15 PM
|Power of attorney, in the simplest sense, is just someone giving you the authority to do something on their behalf. It is most typically seen with older people who grant power of attorney to their children. This gives the children the right to make decisions concerning their care, their money, assets, etc. In this regard I think they are saying that you have a "power of attorney" to sell the car and bike. You don't really need to have that, but in order to protect yourself from the guy later being upset and doing something if he thinks you didn't get enough money, just have him write you a quick letter which states "I _________ hereby grant Ken the ability to sell, on my behalf, my _______________________ (bike description) and _______________________ (car description) for whatever amount he is able to get for them. I authorize Ken to act on my behalf with full ability." You still may run into a problem with the car title, etc., but this answers your power of attorney question at least.
|In case not clear above, have him sign and date letter too (nm)||nomarack|
Jul 4, 2003 8:18 PM
|In case not clear above, have him sign and date letter too (nm)||TheJoker|
Jul 5, 2003 1:47 AM
|..and then stick them both on eBay|
|re: Selling a bike for a friend. Do i need "power of attorney?"||Walter|
Jul 5, 2003 5:34 AM
|Since bicycles don't require tags and state registration a power of attorney might be nice but is not required. Just sell the bike as if it's yours and send your friend the money. You guys have been friends long enough for trust to not be an issue.
For the auto which does require those things above and (at least in Fla) proof of insurance and a report of sales tax I would think a (limitted) power of attorney would be required for a legal sale. Every time I've bought a car there's been a "limitted power of attorney" involved. You have to have an established right to sign your friend's name on the title transfer.
|no - bike; yes - car||DougSloan|
Jul 5, 2003 9:41 AM
|Or, you can have him sign the odometer and transfer affidavit before he goes, or by mail after the sale.
Do anything you want with the bike.