POWER OF ATTORNEY / PRE-SIGNING / MAIL-OUT
A power of attorney is a legal document in which one individual (the principal) authorizes another individual (the agent a/k/a the attorney-in-fact) to act on his or her behalf. Power of attorney forms are used for many different purposes and a power of attorney given for one purpose may not be suitable for another. A real estate power of attorney must authorize the agent to sign documents affecting REAL PROPERTY (critical terms include the power to sell and convey and/or purchase and encumber).
In addition to limitations on scope, a power of attorney may require a triggering event (e.g., it may become effective only after a licensed physician determines that the principal is incapable of managing his or her affairs). A power of attorney may include a termination date and all powers of attorney expire automatically upon the death of the principal.
If you plan to utilize a power of attorney, you should notify us immediately and provide us with a copy so that we can verify suitability for your intended purpose (at your request, we can draft a suitable form). If your transaction involves a lender, the lender must also approve the form.
If you want or need to sign closing documents yourself, but you will not be available on the scheduled closing date, we can accommodate a pre-signing or a mail-out. For a mail-out, bear in mind that we cannot fund, disburse and record a transaction until we have fully-executed original documents in hand. Therefore, a mail-out must occur several days before the scheduled date of closing in order to allow for transmission of documents to you and return of document to us by you.