(a)Language conferring general authority with
respect to tangible personal property transactions means the principal
authorizes the attorney in fact to do the following:
(1)Accept as a gift or as security for a loan, reject, demand, buy,
receive, or otherwise acquire ownership or possession of tangible
personal property or an interest in tangible personal property.
(2)Sell, exchange, convey with or without covenants, release,
surrender, mortgage, encumber, pledge, hypothecate, pawn, grant
options concerning, lease or sublet, or otherwise dispose of
tangible personal property or an interest in tangible personal
property.
(3)Release in whole or in part, assign the whole or a part of,
satisfy in whole or in part, and enforce by action or proceeding, a
mortgage, an encumbrance, a lien, or
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(a) Language conferring general authority with
respect to tangible personal property transactions means the principal
authorizes the attorney in fact to do the following:
(1) Accept as a gift or as security for a loan, reject, demand, buy,
receive, or otherwise acquire ownership or possession of tangible
personal property or an interest in tangible personal property.
(2) Sell, exchange, convey with or without covenants, release,
surrender, mortgage, encumber, pledge, hypothecate, pawn, grant
options concerning, lease or sublet, or otherwise dispose of
tangible personal property or an interest in tangible personal
property.
(3) Release in whole or in part, assign the whole or a part of,
satisfy in whole or in part, and enforce by action or proceeding, a
mortgage, an encumbrance, a lien, or other claim that exists or is
claimed to exist in favor of the principal with respect to tangible
personal property or an interest in tangible personal property.
(4) Perform acts of management or conservation with respect to
tangible personal property or an interest in tangible personal
property owned or claimed to be owned by the principal,
including the power to do the following:
(A) Insure against casualty, liability, or loss.
(B) Obtain, regain possession of, or protect by action or
proceeding.
(C) Pay, contest, or compromise taxes or assessments.
(D) Apply for and receive funds in connection with taxes or
assessments.
(E) Move from place to place or store for hire or on a gratuitous
bailment.
(F) Use, alter, and make repairs.
(5) Demand, receive, or obtain by action or proceeding money or
other things of value to which the principal is, may become, or
claims to be entitled to as the proceeds of tangible personal
property, an interest in tangible personal property, or a transaction
permitted under this section, conserve, invest, disburse, or use
anything received for a purpose permitted under this section, and
reimburse the attorney in fact for expenditures properly made in
the execution of powers conferred upon the attorney in fact.
(6) Agree and contract in any manner and on any terms with a
person and on any terms that the attorney in fact selects to
accomplish a purpose permitted under this section and perform,
rescind, reform, release, or modify an agreement or a contract
made by or on behalf of the principal.
(7) Execute, acknowledge, seal, and deliver a conveyance,
mortgage, lease, notice, check, or other instrument that the
attorney in fact considers useful to accomplish a purpose
permitted under this section.
(8) Prosecute, defend, submit to arbitration, settle, and propose or
accept a compromise with respect to a claim existing in favor of
or against the principal based on or involving a tangible personal
property transaction or intervene in an action or proceeding
relating to a claim.
(9) Hire, discharge, and compensate an attorney, accountant,
expert witness, or other assistant when the attorney in fact
considers the action to be desirable for the proper execution by
the attorney in fact of a power described in this section and keep
needed records.
(10) Perform any other acts with respect to tangible personal
property or an interest in tangible personal property.
(b) The powers described in this section are exercisable equally with
respect to tangible personal property or an interest in tangible personal
property owned by the principal at the time of the giving of the power
of attorney or acquired after that time, whether located in Indiana or in
another jurisdiction.