Legal Question in Real Estate Law in New York

I am refinancing my property & will be out of town during the closing. I would like to grant someone limited power of atty. I am not sure which is the correct legal form for me to fill out. Is it considered a purchase? Please advise.

Thanks.


Asked on 6/08/11, 8:53 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

No, it is simply a refinancing. You should authorize the holder of the POA not only to sign all documents, but to permit payoffs and other fees to be deducted, etc. I am a little surprised that the bank or mortgage company is allowing this to close using a POA. They usually require the borrower to sign personally. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

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Answered on 6/08/11, 9:24 am


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