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2 SPAs for the same property??

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1 2 SPAs for the same property?? on Tue Nov 17, 2015 6:56 am

tulokers


Arresto Menor
Hi All,

Hope you can give me advice with this.

I'm purchasing a condo in the Manila but I am currently working overseas. I cannot afford to come home just to sign some papers so I have assigned my cousin as Special Power of Atty (SPA).

The bank requires a particular format for the SPA, and now the property developer also requires a different and particular format. These documents are significantly costly to have Consularised.

As the SPA is a legal document don't they have to accept it if all the legal details are included? Or can they force me to create two separate SPAs just to suit their formatting needs?


Thanks,

Tulokers

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2 Re: 2 SPAs for the same property?? on Wed Nov 25, 2015 10:00 pm

betchay001


Prision Mayor
They can't force you of course, but basically your documentation will be incomplete without it, and won't be processed. These two (bank and developer) are different entities and they have different requirements. As long as the property details are pertaining to one property, and that you're designating your cousin as your Attorney-in-Fact, it should be fine.

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