A co-agent is an individual appointed alongside another agent in a power of attorney (POA) arrangement. Co-agents can either act together or independently, depending on how the POA document specifies their authority. This arrangement allows for shared responsibilities in managing the principal's affairs.

Can I Name Two Agents in a Power of Attorney?

Q: Can 2 people be listed as POA?

Yes, two people can be listed as agents in a power of attorney (POA). It is important to clarify in the document whether they must act together or if either can act independently. This ensures that their authority and responsibilities are clearly defined.

Q: Can you have a secondary power of attorney?

Yes, you can designate a secondary power of attorney, often referred to as a successor agent. This person steps in if the primary agent is unable or unwilling to act. It is important to clearly outline the succession process in the power of attorney document to ensure a smooth transition.

Full question:

Can I list both of my sons as agents on a POA, not one first then the second, but the two as one son or the other son?

Category: Power of Attorney
Date: 04/07/2025
State: New Mexico

Answer:

Yes, but when two people are appointed by the principal to act as attorney in fact, it is important to determine if both have to act together or if either can operate independently of the other. This should be set forth in the instrument itself.

An agency conferred on two or more persons, in the absence of a clear showing of a contrary intent, must be exercised only by the unanimous action of the designated agents. However, the presumption will give way to a clearly expressed intention that the agents will have the authority to act independently (i.e., both severally and jointly).

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is the difference between agent and co-agent?

An agent is a person authorized to act on behalf of another, typically in legal or financial matters. A co-agent, on the other hand, refers to two or more agents who share the responsibility of acting together or independently as specified in a power of attorney (POA). The key difference lies in the number of individuals involved and their level of authority, which can be defined in the POA document.

What is the difference between a listing agent and a cooperating agent?

A listing agent is a real estate professional who represents the seller in a property transaction, handling the sale process. A cooperating agent, often referred to as a buyer's agent, represents the buyer and works to find suitable properties. While the listing agent focuses on selling, the cooperating agent aims to assist the buyer in making a purchase.

What is a co-agent?

Can 2 people be listed as POA?

What is a co-agent in power of attorney?

A co-agent in power of attorney is one of two or more individuals designated to act on behalf of the principal. Co-agents may have shared responsibilities and can be required to act together or independently, depending on the terms outlined in the POA document. This arrangement allows for flexibility in managing the principal's affairs.