There has been a serious problem with the lack of consistency when Powers of Attorney are presented to banks and other institutions such as title insurance companies and real estate settlement companies. Not infrequently the agent under a Power of Attorney would be informed that the Power of Attorney was not acceptable. There are also problems with people acting under Powers of Attorney doing inappropriate things, some even to the extent of stealing money.
Maryland has passed a new statute that becomes effective October 1, 2010 that attempts to solve many of these problems.
The new statute includes statutory forms for both General Powers of Attorney and Limited Powers of Attorneys and provides that, if a lawsuit has to be filed to force someone to accept it, there can be a request for reasonable attorney fees.