Legal Question in Wills and Trusts in New York

Re: What do you do with a power of attorney?

The executed Power is to be retained by the Attorney in Fact and shown to the party with whom the Attorney in Fact transacts business on behalf of the Principal.

A Power of Attorney can be recorded as a deed and used for real estate tranactions; this is very uncommon.

Re: What do you do with a power of attorney?

Normally, a Power of Attorney is executed with several originals. If Real Estate is involved, the Power must be prepared to comply with the special requirements for recording. Typically, banks, brokers, and financial institutions require original Powers and may demand their own form.

Ronald J. Cappuccio, J.D., LL.M.(Tax)

Counsellor at Law

http://www.taxesq.com/

Re: What do you do with a power of attorney?

The power of attorney MAY be recorded at the county courthouse; however, this is NOT required.The attorney in fact can simply retain the document for future reference or whenever necessary to prove the power was in fact given.Sometimes a copy of the POA is given to the bank etc for its records, and sometimes it (by copy) is attached to documents.