If you have a Limited power of Attorney for purchase of Real Estate does it have to be produced as proof ?

Question

As the Person holding a Limited Power of Attorney do I need to provide proof to the Title Company at the time of signing and does the title company keep a copy on file and are they required to provide a copy to the County for recording purposes? Can I put my name on title as joint owner/Tenents in common with right of survivorship without written permission? Are there any Legal Ramifications?

If the preliminary documents were signed as xx and xx for xx and the Limited Power of Attorney was produced and dated after so call preliminary documents. Does this constitute forgery or does this void preliminary documents and the presumption that there was 2 buyers on the purchase agreement.

Answer 1

You are signing for someone else and will not be partial owner. They will want a notorized copy f the POA and they will file the POA with the mortgage and lein paperwork in the town records. Sounds like you are scamming and it will be pretty hard to do without getting caught eventually

Answer 2

most lenders will require a specific poa. No way can you add yourself to title.! scammer! The title company will want the notorised copy at closing and yes that will be filed as you are signing for some one else who could not for what ever reason be there. Now the borrowres can quit claim you on at any time if they so desire. Or the can add you before signing then you will have to sing for yoursel as well as the POA

Answer 3

If the PA is not recorded they will require the original, signed, notarized document and will usually only accept it if it is less than 6 months old.

From an escrow/title standpoint, unless your name is on the purchase agreement we would find you placing your name on title highly suspect. Also, the lender would never allow someone who is not on the loan to take title.

I would tread very carefully if you're thinking of doing this. The legal ramifications could be huge.

Answer 4

They won't release any funds until they have an original notarized copy of the POA. And yes there are legal ramifications if you go outside of the POA like being held liable for any fraudulent transactions up to and including lying on a mortgage application. Serious business and I have seen the FEDs prosecute for it.

Answer 5

I can't answer all of those questions, but I can say that Yes, you do have to produce such documentation to the titling company PRIOR to settlement.

Good luck!