Who Has Your Power?

What super powers do you expect to utilize when you buy a house?  Your Realtors?  The Loan Officers? Or maybe the Title Company?  Yes, they all have some super powers.   Sometimes, you may have the need to have someone else sign documents for you for any number of reasons to buy that dream house.  Whatever those reasons are, a Power of Attorney is the document that will be required.

Power of Attorney documents come in all different shapes and sizes.  Each dealing with their own issues and each for their own reasons.  Some terminate, some do not.

  •  General POA- used for many reasons, and allows the person with the power to do a lot.  Terminates upon death or a specific date.
  •  Durable POA – most often seen for medical reasons or estate planning, but has many uses.  Can remain in force upon death or mental or physical incapacity.
  • Specific POA- sometimes referred to as a Limited POA, is used for a specific reason for a specific time period.

For your settlement, a Specific POA is a required.