Legal Question in Wills and Trusts in New Jersey
Power of attorney
Can a person use power of attorney on their own behalf in order to cosign for a mortgage legally?
2 Answers from Attorneys
Re: Power of attorney
Some facts are missing. For whose benefit is the mortgage being taken, the Grantor of the Power or the Power holder? For what purpose is the Grantor's signature being used? Whose property is to be the collateral? What, if any, is the relationship between the parties to the POA? If the POA is being used to guaranty a loan to the holder of the POA, putting the assets of the Grantor at risk, this might not be a proper use of the POA. Plus, usually a lender requires an original signature, not one by the holder of the POA, and this has to be checked out. More facts are needed to provide a better response, not only as to the right to do this, but to determine if this is an abuse of the POA.
Re: Power of attorney
I do not understand your question. This is only part of the facts, and you need to explain your question.
Call me if you would like; a telephone conference will be free. You can then decide how you would like to proceed.