Posted by Percy on March 03, 2000 at 22:00:04:
I should have mentioned that the Seller gave me the Deed to the property ‘subject to’ the existing loan. The loan was several months in arrears and had been turned over to a foreclosure attorney. The POA was needed to sign the Sellers name on the Loan reinstatement docs.
Recording Power of Attorney Doc - Posted by Percy
Posted by Percy on March 03, 2000 at 11:25:17:
Is it required that the Power of Attorney document be recorded at the County Courthouse? While reinstating a loan I had a bank collections person threaten to keep my original because it wasn’t recorded. Anyone else have similar problems?
Cheers–Percy
Re: Recording Power of Attorney Doc - Posted by Ohio Ben
Posted by Ohio Ben on March 03, 2000 at 16:13:51:
How are you using the POA?
Re: Recording Power of Attorney Doc - Posted by Michael Morrongiello
Posted by Michael Morrongiello on March 03, 2000 at 13:04:09:
Percy:
It is not absolutely necessary for a POA to be recorded however if a document was executed by someone acting as “attorney in fact” for the party to be bound a title company might call for the actual POA document to be recorded so that future questons surrouding the validity of the document are not questionable
TIP: when obtaining a POA get more than one original executed so that in the event one has to be recorded you still have another original available to you while you wait for the recorded copy to be returned.
I’m not sure why a bank would require you to provide them a POA if you were reinstating a loan account?
Kind Regards,
Michael Morrongiello