1. A power of attorney shall not be construed to authorize the attorney-in-fact to gratuitously transfer property of the principal to the attorney-in-fact or to others except to the extent that the power of attorney expressly and specifically so authorizes. An authorization in a power of attorney to generally perform all acts which the principal could perform if personally present and capable of acting, or words of like effect or meaning, is not an express or specific authorization to make gifts.
N.J. Stat. Ann. § 46:2B-8.13a
Power of attorney; gift of principal's property; prohibited
Known as the Revised Durable Power of Attorney Act
The act spans §§ 46:2B-10 to 46:2B-8.9 (25 sections).
L.2003,c.138.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.