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The power (or lack thereof) behind a Power of Attorney

Here are some of the more IMPORTANT FACTS regarding Powers of Attorney:

1. There are different types of Powers of Attorney for different and specific purposes.

2. For the purpose of the transfer of title to real property, a Power of Attorney is defined as an instrument executed by a natural person having the capacity to contract, authorizing another to act as one’s agent or attorney.

3. In most cases, title companies will require a Specific Power of Attorney granting a Specified Attorney in Fact the authority to act as a representative to sell, hypothecate and/or encumber a specified parcel of property.

4. A Power of Attorney cannot be used to act on behalf of a trustee of a trust.

5. All Power of Attorney documentation should be reviewed (verified) before entering into any sort of real estate contract/agreement. Similarly, most title companies will require a copy of this documentation to determine its valid application to the transaction at hand.

6. Most title companies WILL NOT accept a Power of Attorney that is older than two years.

For more information contact your Western Resources Title Representative today.