ML
4976 Posts |
 Posted - 07/09/2009 : 8:35:50 PM
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It's ill-advised for a purchaser to use a POA as a grantee. A grantor (seller) can simply execute a deed in advance and have an attorney act as a stand-in, with current, valid POA. But for purchases, the best, air tight method, is to have the grantee take title, then re-convey to himself and wife at a later date!
We started this practice in NY about 15 years ago after a wife took title with husband using POA. The husband (who was an attorney and friend of mine) was killed in a plane crash. His death invalidated the POA, and a legal mess ensued.
(IF you want a down and dirty, simple, uncomplicated, closing, get a CURRENT CA POA. However, they are also often subject to challenge due to allegations of lack of authority.)
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