115 Powers of Attorney Power of attorney
to act for the owner or on the owner's behalf with respect to the
transfer or other dealing with the land or with any part of it, in
accordance with this Act, by executing a power of attorney in the
prescribed form, or as near to it as circumstances permit, or in any
form heretofore in use for the like purpose in which the land is not
specially mentioned and described but is mentioned and referred to
in general terms and the Registrar shall register any such power of
attorney.
(2) If the land referred to in any power of attorney is specifically
and properly described, the Registrar shall make a memorandum of
the instrument on the certificate of title.
(3) Until a power of attorney in which the land referred to is so
specifically described is revoked in the manner provided by
subsection (4), the right of the owner to deal with the land for the
purposes specified in the power of attorney is suspended, but the
execution or registration of a general power of attorney does not in
any way affect the right of the owner to transfer or otherwise deal
with the owner's land.
RSA 2000
(4) The power of attorney may be revoked by a revocation in the
prescribed form and, after the registration of a revocation of a
power of attorney, the Registrar shall not register any transfer or
other instrument made under the power of attorney unless the
transfer or other instrument was executed prior to the revocation.
(5) Where an irrevocable power of attorney is granted by a
corporation in a registered mortgage or encumbrance and is to take
effect when certain conditions, including default, occur, a
certificate by the mortgagee or encumbrancee may be filed with the
Registrar in respect of land that is owned by the corporation,
(a) setting out the provisions from the mortgage or
encumbrance that grant the power of attorney,
(b) certifying that the power o f attorney is in effect by virtue of
the conditions having occurred,
(c) where the mortgagee or en cumbrancee is not the attorney,
certifying the appointment of the person who is authorized
to act as attorney pursuant to the power of attorney,
(d) describing the land in res pect of which the power of
attorney is to be exercised, and
(e) certifying that at least 15 d ays' notice has been given to the
corporation of the intention of the attorney to file the
certificate,
and the Registrar shall register the certificate and make a
memorandum of the instrument on the certificate of title.
(6) A certificate registered under subsection (5)
(a) suspends the right of the owner to deal with the land for the
purposes specified in the power of attorney,
(b) is sufficient authority f or the Registrar to accept an
instrument that is executed by the attorney for a purpose
specified in the power of attorney, and
(c) subject to subsection (7), may be withdrawn by the
mortgagee or encumbrancee at any time.
(7) The mortgagee or encumbrancee shall withdraw a certificate
registered under subsection (5) when the conditions permitting the
certificate to be filed no longer exist.
RSA 1980 cL-5 s115;1988 c27 s42;1999 c10 s23
RSA 2000