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Updated over 9 years ago, 05/03/2015
Please Help! Who signs the purchase-agreement when their is a power of attorney?
I have a seller that's helping her parents sell their home to me. She has power of attorney over them both. My Questions is:
1. Whose name do I put on the purchase-agreement?
2. Who signs it?
Thanks in advance for all of your valuable advice and expertise.
I recently sold a house to a husband and wife where the wife had POA over her husband because of his failing health. Both of their names were listed on the purchase contract, but the wife signed for both of them.
As this is a legal question that bears on the enforceability of the contract, you should consult a real estate attorney.
when I bought my house I had power of attorney for my wife. I signed my name and signed my wife's name as "(her name printed) by (my name signed) POA" there were accompanying documents of the POA and noterised.
Are you using title company for this transaction? If so, I'd simply ask them.
(By the way, developing good relationship with a title company you use over and over again is a real benefit to an investor.)
@Michael Hayworth I can't agree more w/r/t building the relationship with the title company, and perhaps one step further, the closer (or whole team) within the office.
Thanks guys. We are currently closing our deals with a local attorney which is the closing protocol here in SC. Our attorney is one the kindness individuals in our network. However we're still working on his office staff. lol.
The one with POA is not the seller; the POA only allows the person to act on behalf of those who granted the POA. Seller names will be the names of those who granted the POA (and those named on title), and the one with POA can sign on their behalf. BTW, a separate POA would be needed for each named owner I believe.