Legal Question in Real Estate Law in Washington
Power off Attorney
What kind of power of attorney do I need to take out a home equity line of credit on someone else's behalf?
Asked on 4/15/07, 2:05 pm
1 Answer from Attorneys
Elizabeth Powell
ELizabeth Powell PS Inc
Re: Power off Attorney
Its generally referred to as a Durable Power of Attorney, sometimes general, and the operative phrase is the power to encumber or mortgage in the principal's place or stead. The name of the document is not important, what's important is the grant of powers contained within it.
Making a DPOA requires a competent principal. If the principal is not competent at this time you need to investiate a guardianship.
Hope this helps. Powell
Answered on 4/15/07, 4:57 pm
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