Posted by Bobbi in CT
on May 13, 2008, 5:35 am, in reply to "Why Not John?"
75.144.203.241
The issue is a common one. Most lenders, title companies, beginner processors and auditors, and MANY others never pick this up. So the "affidavit" works - unless there is a claim against the title insurance policy. It takes a common sense "legal" thought process:
Person #2 holding a Power of Attorney from Person #1 can act and sign documents according to that Power of Attorney; HOWEVER,
Person #2 has no "power" or "idea" exactly what is "true and accurate" according to the mind, memory and individual knowledge of Person #1, which is why Person #2 cannot sign for Person #1 using the PoA to make a "sworn statement as to the truthfulness and accuracy" of the statements contained within a Affidavit according to Person #1's knowledge.
For example, what good is Uncle Joe, living in California, with POA for newphew Sam, mortgaging his residence in Maine that Uncle Joe has never been to, signing a title affidavit that Sam doesn't know of any easements on the property, unrecorded liens, any unpaid work within the past 90 days, any foreclosure proceedings being brought?
Message Thread:
« Back to thread