Legal Question in Real Estate Law in New York
Remortgaging Property
A person owns a house free and clear and has deed and title in person's name.
Person's parents need money to get a business started and are Power of Attorney for person.
Question: Can person's parents remortgage house without informing person?
Asked on 1/19/98, 10:43 am
1 Answer from Attorneys
Stacey Van Malden
Stacey Van Malden, Attorney at Law
Power of Attorney-Real Estate
Ordinarily, unless a person holds a real estate specificpower of attorney, then s/he cannot act for anotherin real estate transactions. The answer to your question truly lies in thePower itself, its terms and conditions.
Answered on 1/23/98, 10:14 pm
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