I had a closing on a property, signed all required papers on behalf of spouse via POA (photocopy). Title co talked to spouse over phone to confirm POA, and also received written confirmation from his boss too. On the closing date, title co wouldn't give me the profits until i show original POA instead of the photocopy. The closing is complete, papers have been signed, buyer has the keys. Is the title co allowed to withold the profits? Thanks.
Yes They were being nice letting you get all the paper work done without him being there... Thats what the title company is for, they are there to protect everyone, including you. Good luck... L.
Absolutely. The title company is responsible for that money and everything needs to be the originals. My husband and I just went through this with the POA and they have the right to do this without the originals. A photocopy is usually not good enough. Just get them the originals ASAP. Title companies deal with this daily so it is not something they are doing out of the ordinary.
I work for a Mortgage Broker, my boss gets back in town Monday, I will ask him!
Yes. They are legally not allowed to release anything to you without the original. They shouldn't have even let you sign the documents without it.
Here is the message from my realtor husband:
Yes. They always need the original POA. Mr. Seller should over night it or execute another one, assuming the title company will allow a new one with a new date. It has to be notarized.
