Critical Parts of an SPA

In the Philippines, these are the critical clauses Special Powers of Attorney (SPAs) should include:

1. Negotiate and agree on the selling price of a particular property;

- It's essential that you name the particular property by indicating the Title Number and the Registry of Deeds where it is located. Government agencies are strict about this. If there are multiple properties, indicate each one.

2. Sell, sign, transfer, convey, assign, or otherwise dispose of the property;

3. Sign any agreements, contracts, and documents of the sale of the Property, which includes the Acknowledgement of Receipt for Full Payment, Contract to Sell (if applicable), and Deed of Absolute Sale;

- These are the typical documents executed in a sale. But if possible, indicate all the documents that need to be signed. Government agencies don't like blanket statements.

4. To receive, accept, deposit, withdraw, collect or demand any sums of money in cash or check to represent the proceeds of the sale of said Property AND TO WHOM SUCH PAYMENTS SHALL BE MADE TO;

- It's critical that the SPA indicates to whom the payments shall be made. Most SPAs I've seen don't mention this.

5. Obtain copies of all pertinent documents and records from relevant offices.

- Some government agencies are pretty strict about releasing certified copies of pertinent documents, so we might as well add this power.

6. Full Power of substitution (Optional)

- If the principal's attorney-in-fact (AIF) becomes unavailable, the power of substitution allows the AIF to execute a new SPA naming another AIF to represent the seller.