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View Full Version : Lawyer-type peeps: POA question


Frozen Sooner
5/21/2007, 05:10 PM
OK, Lawyer peeps:

Someone presents me, as a loan officer, with a special power of attorney stating that it was granted in connection with a real estate transaction. I refused to allow using this POA in connection with an auto loan. This is correct, no?

Were it a General power of attorney without specific language excluding this transaction, I would have taken it.
AlbqSooner
5/21/2007, 08:12 PM
Not being licensed in Alaska, the best answer I can give you is probably correct. How is that for lawyerly weasel wording.
Frozen Sooner
5/21/2007, 08:15 PM
Well, I mean, I'm always on good legal ground refusing to take it, I guess, if I just say that I suspect it may have been revoked or whatnot. But yeah, I'm pretty sure that that POA that she handed me didn't give her the right to do what she wanted to do with it.
Frozen Sooner
5/21/2007, 08:54 PM
Not being licensed in Alaska, the best answer I can give you is probably correct. How is that for lawyerly weasel wording.

By the way, that was great weasel-speak.
OCUDad
5/21/2007, 09:05 PM
Oops... thought you said "POS question" for lawyer-type peeps and the answer was obvious.
Soonerus
5/21/2007, 09:34 PM
If you are the lender you can require anthing you want, you should already know that....
Frozen Sooner
5/21/2007, 09:37 PM
Well, yeah, I do know that. But I was just trying to make sure that I was right in telling her that even had I wanted to do the loan I couldn't with that document.
mikeelikee
5/21/2007, 09:40 PM
I'm a loan officer also, Mike. You're on solid legal ground, I believe. That does not sound like a durable power of attorney, which would be more flexible.
Soonerus
5/21/2007, 09:42 PM
If I were loaning the money, I would take your position, imo you can rest easy...
Frozen Sooner
5/21/2007, 09:45 PM
Thanks Russ. :)

mikee-I'm the branch manager, so I kind of had to hold my ground on it. She got past me to my VEEP, and she shot her down as well. As well she should-I'm the one who trained her on POAs. :D
Soonerus
5/21/2007, 09:46 PM
durability has nothing to do with it, durable POA has to do with the mind-state of the grantor only...
TUSooner
5/21/2007, 09:50 PM
Not being licensed in Alaska, the best answer I can give you is probably correct. How is that for lawyerly weasel wording.
I'm absolutely, totally, completely, 100% in accord with this opinion. :)
Frozen Sooner
5/21/2007, 09:53 PM
durability has nothing to do with it, durable POA has to do with the mind-state of the grantor only...

Uh-huh. The question had to do with special vs. general.
Soonerus
5/21/2007, 09:54 PM
I'm a loan officer also, Mike. You're on solid legal ground, I believe. That does not sound like a durable power of attorney, which would be more flexible.

I was addressing this comment...
Frozen Sooner
5/21/2007, 09:55 PM
Oh, I know. Sorry-wasn't saying you didn't get the original question. I was agreeing with you.
sooner_born_1960
5/21/2007, 11:45 PM
She wouldn't show you her bewbs, huh?