Q re real-estate attorney POA and sale of house owned partly by living trust

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stuyguy
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Joined: Sun Sep 07, 2014 9:27 pm

Q re real-estate attorney POA and sale of house owned partly by living trust

Post by stuyguy » Sun May 05, 2019 7:01 am

Can a real-estate attorney be assigned POA to sign for me and my wife at closing of a house owned by my sister (50%) and by our living trust (50%)? Family house in NYC is up for sale; all owners live out of state. Wife and I would like to avoid having to travel to NYC in July or August, the estimated time of closing. Many thanks

Carefreeap
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Re: Q re real-estate attorney POA and sale of house owned partly by living trust

Post by Carefreeap » Sun May 05, 2019 11:08 am

I would check with the title/settlement company to see if it's allowed.

I've sold out of the area property (in California) and the only thing we had to do was to have our signatures notarized on the granting deed. Papers go directly to the title company. No need to physically be there to sign.

Skiandswim
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Re: Q re real-estate attorney POA and sale of house owned partly by living trust

Post by Skiandswim » Sun May 05, 2019 1:52 pm

We recently sold a home using a POA since we were no longer in state. The POA was accepted by both sides and agents. However, we had considerable push back from the title company five days prior to closing. We had to provide the full living trust document (not a trust certificate) and demonstrate that we could assign a POA for real estate transactions. I would read your living trust carefully and point out sections that allow you to execute the POA.

RudyS
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Re: Q re real-estate attorney POA and sale of house owned partly by living trust

Post by RudyS » Sun May 05, 2019 2:01 pm

Similar situation. Might depend on the state, as well as requirements of title company or mortgage company.
But here's my story (still under way):

Realtor says it's easy. I give her a limited POA to sign the papers at closing. I will have the dollar figures in advance so she can be instructed properly. She is verifying details and timing with the title company that's running the closing. Closing in about 2 weeks, we will be out of state by then. If anything changes I'll post an update.

Topic Author
stuyguy
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Re: Q re real-estate attorney POA and sale of house owned partly by living trust

Post by stuyguy » Fri May 17, 2019 3:48 pm

Spoke to our real-estate attorney and he says we'll need to be at the closing in person! Not looking forward to NYC in July or August

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jfn111
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Re: Q re real-estate attorney POA and sale of house owned partly by living trust

Post by jfn111 » Fri May 17, 2019 4:29 pm

I've never signed for a trust but I sign for my investor clients quite often. I've never had any push back from the title company, they've always taken care of the paperwork to have me sign as AIF (Attorney In Fact).

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