Posted by Monique on March 15, 2001 at 12:55:58:
Jim,
LeGrand’s info is great for learning the business and how to structure deals. But his paperwork is lacking, frankly.
There are several things Ron’s course does not cover that fall in the category of the “paperwork” that you will want to do … getting a Limited PoA is one.
Monique
Power of Attorney (Or Not)? - Posted by Jim
Posted by Jim on March 14, 2001 at 22:58:42:
Having a seller place his/her property in a trust and appointing a trustee is what I’ve learned from my studies. I know that the trustee has the power to deed the property etc (only under the direction of the beneficiary(s), but is it necessary or recommended to obtain “Limited Power of Attorney” from the seller as well? I’ve been hearing mixed opinions on this lately.
If we should get Limited Power of Attorney, who should get that power? The Trustee of the trust or us the investor?
Thanks for clearing the smoke.
Jim
Re: Power of Attorney (Or Not)? - Posted by David Alexander
Posted by David Alexander on March 14, 2001 at 23:52:42:
Yes, absolutely get a POA…
Why are you wrestling with it. You may need it to cash insurance checks, to deal with the mortgage company etc.
I get one done in the name of me, my company and associates.
David Alexander
Re: Power of Attorney (Or Not)? - Posted by Jim
Posted by Jim on March 14, 2001 at 23:58:20:
The reason I asked is because of all the recent talk about it and the fact that I never read it in my course material. (Unless I missed it somewhere) I’ve been studying LeGrand 3 MODS.
I never saw it in the books and never heard it mentioned on the CD’s, but I will go with your suggestion and get it assigned to me.
Thanks David
Jim
Re: Power of Attorney (Or Not)? - Posted by Terry (Houston)
Posted by Terry (Houston) on March 14, 2001 at 23:57:00:
Welcome back,
Have not seen you post in a while.