Power-mad attorneys in Spain

The problem

If you are involved in a property transaction in Spain you will be almost invariably provided with a power of attorney to sign[^1]. And almost, just as invariably, the power of attorney will include the following 5 type of clauses:

  1. the attorney has the power to buy any property/goods on your behalf at the price and on what conditions the attorney wishes;
  2. the attorney has the power to sell any property/goods on your behalf at the price and on what conditions the attorney wishes;
  3. the attorney has the power to open and operate bank accounts on your behalf (sometimes the power extends to borrowing money in your name); and
  4. the attorney has the power to act in conflict to your best interests[^2]; and
  5. the attorney can delegate her/his powers to other people, who need not be lawyers.

Although there is no explicit wording, the power of attorney does not have an expiry date[^3].

A very one-sided agreement which most people would not to sign. But most people do sign just such document…

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