Tangible personal property.

  1. Law
  2. Oklahoma Statutes
  3. Probate Procedure
  4. Tangible personal property.

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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:

1. Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;

2. Sell; exchange; convey with or without covenants, representations or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or otherwise dispose of tangible personal property or an interest in tangible personal property;

3. Grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

4. Release, assign, satisfy or enforce by litigation or otherwise, a security interest, lien or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;

5. Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:

  • a.insuring against liability or casualty or other loss,
  • b.obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise,
  • c.paying, assessing, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments,
  • d.moving the property from place to place,
  • e.storing the property for hire or on a gratuitous bailment, and
  • f.using and making repairs, alterations or improvements to the property; and

6. Change the form of title of an interest in tangible personal property.

Added by Laws 2021, c. 332, § 28, eff. Nov. 1, 2021.


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