Posted by dewCO on December 27, 2000 at 23:00:52:
Basically the same. It’s usually a limited POA for the specific purpose of _____________. This blank gets filled in, like for the purpose of i.e, contracting and closing the sale of xxx property.
R.E. Power of Attorney - Posted by BR2
Posted by BR2 on December 27, 2000 at 09:48:32:
Can someone please tell me the difference between Power of Attorney for real estate, and a land trust. It seems that they do about the same thing, but the POA doesn’t seem to be as complicated. Can a POA be used in a preforeclosure situation?
All responses appreciated.
Re: R.E. Power of Attorney - Posted by Bill Gatten
Posted by Bill Gatten on December 31, 2000 at 16:30:18:
Maybe I’m missing something here; but what would the similarities be?
A land trust conveys benefits along with the incidents of real estate ownership to a designated beneficiary, while holding the property in anonymity without the need for title transfer to a 2nd or 3rd party. It is essentially an alternative form of transfer of real estate ownership. My understanding of a Limited POA, on the other hand, is that it merely nominates a person to act Attorney-in-Fact relative to certain limited and delineated functions with regard to some specific facet of an individual’s legal affairs.
Did I miss your point? Or is this what you were looking for?
Bill Gatten