Common Questions About Power of Attorney for California
Since every state is a little different, this article is just going to focus on common questions about filing a Power of Attorney in California. You can file your own Power of Attorney but be careful with the wording since this document does give some one the legal authority to act on your behalf, but only within the limitations as stated in the document.
What is a Power of Attorney?
A power of attorney is a legal document that allows you to appoint some one as your ‘agent’ to act on your behalf in matters you specify within the document. This document can be used to authorize an individual to do things like Child Support Collection or Homeowner & Renter Assistance, which would be things like collecting rent money from your tenants or selling a house for you. Although a power of attorney is often used for these reasons, this is not all you can do with this document.
How Long Will my Power of Attorney be Valid?
Unless you specify otherwise, your power of attorney will remain in effect until the specified matters are fully resolved or you revoke the declaration with a Revocation of Power of Attorney form. To completely revoke the power of attorney though you will need to attach the original power of attorney with “REVOKE” written in large letters at the center top. You will also need to sign and date the bottom of the form, attach this to your Revocation of Power of Attorney and send it to your “agent”. Don’t forget to sign and date the bottom of the revocation of power of attorney too.
Do I need an attorney?
No, an attorney is not required in order for a Power of Attorney to be legal and valid. The process is not difficult and does not require an attorney but it does usually require the signature of a notary and two witnesses, depending on which state you’re in. Some states only require the signatures of two witnesses for a power of attorney to be properly signed (executed).
Tagged with: Notary • Revocation Of Power Of Attorney • Selling A House • Signature
Filed under: Attorney Articles
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Have you contacted any builders and architects?
There are too many structural issues, building codes, etc that would need to be assessed for someone to build a home just based on a sketch no matter how great your ideas are. If this is truely a passion that you want to pursue, then you will need the education and a degree I would imagine. If income/debt is an obsticle, there are grants and scholarships you could look into. I would start there and talk to a councelor at a school that you may want to attend and get some advice there if you are serious about this.
Hope this was helpful.
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You probably wouldn't have to do or say much of anything. Just notarize the wedding certificate.
The process for this varies by lender (the one for your new home) – there are a couple options:
Your new lender can order a "Comparable Rent Schedule" from an appraiser in your area. The appraiser will find out what homes like yours are currently renting for and report it back to the lender in an appraisal form. The proposed rent from the "rental" will be considered income and can lower your debt-to-income ratio.
Or, if you've got a tenant, you can provide a signed rental agreement that shows you have tenants and income for the home. This will also lower your debt-to-income ratios.
Like I said, it will depend upon many other qualifying factors and your new lender's guidelines.
If you've got more questions, let me know!
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Unfortunately today the tax assessed value does not reflect the actual value of the home. A home appaisal is going to be based off recent (within last 3 months) comparable sales within a 2 mile radius of the property (depending on population density can be smaller). My recommendation is visiting a local realtors website that allows you to search sold listings in the last 3 months and see for your self what has actually sold and what the price range is. Make sure it is similar in sq ft and amenities and within a reasonable distance before you make your determination. If you are using a realtor they should be able to easily do a market analysis and find this information out for you. If you are working solo then do your diligence. Also it really depends on how badly you want the home if you can live without getting the home, depending on where you live you can put in an offer of 10% or more off the top and even ask them to pay your closing costs so you don't have to. Good luck.
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If she suffered from dementia, when she signed the POA, it is not legally binding. Person A and B are both out of luck, since a person who suffers from dementia can not sign a legal document.
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Article by at 2010-03-08 01:10:00
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When selling a house to a family member, the lender must be notified. The title can’t legally transfer until the lien against it is satisfied in full.
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