When involved in a transaction where a buyer or seller are contemplating using a Power of Attorney (POA) please remember the following:
• If the Buyer is wanting to use a POA it must be approved by their lender prior to closing
• Any POA form must be approved by your title company
• Title companies often will have a form that you can use if you ask them
• If you are not using the title company’s POA form then be sure to get it to them for review as soon as possible- do not wait until the day of closing
• The ORIGINAL Power of Attorney will have to remain at the closing to be recorded with the transaction
• An agent cannot typically be a POA for their client
• The document needs to be notarized by an independent third party
Any questions regarding the use of a Power of Attorney can be directed to Security Title. Please feel free to call:
Jack Forsythe
Legal Counsel
(314) 442-6965
“Secure Your Investment With Security Title”
