Posted by Les_CO on 11/2/09 12:37pm
Msg #309550

Opinions on Limited PoA

Has anyone seen this ‘new’ three page “Non Durable Limited Power of Attorney” from Fidelity? Still just a basic limited PoA for scrivener’s errors but….Half the time the thing isn’t filled out. Meaning the blanks aren’t typed in when we get the package from Title.

On the first page, it lists the Principal: …---blank---, (I guess more correct than “Borrower” but confusing to some) the Lender: ---blank---, the Secured Property Address: ---blank--- and the Loan Amount: $---blank--- . It then goes on to say that I, ---blank--- Whose residence address is : ---blank---…….

The second page, goes on to say blah/blah… “for correction purposes only to secure the interest of ---blank--- in the property located at ---blank---.”
The Security Instrument to ---blank--- in the amount of ---blank--- ($---blank---)dollars which has been executed on ---blank--- by ---blank--- and ---blank---.
Deed conveying the Secured Property from ---blank--- and ---blank--- to --blank--- and ---blank--- executed on ---blank---.

On the last page, it states:
I ---blank--- the principal…blah/blah/blah
Then only one signature line with the word “Principal” below, followed by a standard Notary Acknowledgment.
This is easy enough to fill in…but should/can we do it? Or do we tell the borrower to, without telling him what to put in the blanks? Can we just leave some of this PoA not filled in and let Title do to later? (not here in CO) And WHY change a simple one page Limited PoA for a confusing one, which is almost impossible to complete correctly? (some of the blanks leave little room to be filled in) Any comments about UPL, or notarizing an incomplete document?
As they say... slow day just venting.

Reply by PAW on 11/2/09 12:59pm
Msg #309558

>>> This is easy enough to fill in…but should/can we do it? Or do we tell the borrower to, without telling him what to put in the blanks? Can we just leave some of this PoA not filled in and let Title do to later? (not here in CO) <<<

Boy, where should I start?

1. Obviously, the document cannot be notarized unless it is complete.

2. Should a notary complete the document? Absolutely NOT.

3. Leave it partially blank? Absolutely NOT. (See #1 above.) Borrowers/Principal/Grantor needs to complete the document prior to their signing it. As a notary, you are not in a position to provide advice or legal opinion, therefore they must complete it on their own or call their LO/Broker or title officer.

Reply by JanetK_CA on 11/2/09 2:23pm
Msg #309567

This is one of my pet peeves, too. I so often see title packages (nearly always from out of state) where it looks like they just have a pile of documents that they throw in with every package - none filled in - and it's supposedly up to us to figure out what applies and what doesn't. It can be excruciating getting a borrower to fill these in because they usually have no clue what information is required and we can't be the ones to tell them what to fill in. And of course, nearly every page requires notarization - nearly always needing replacement verbiage here.

I'm just venting, too. BTW, I completely agree with Paul - no notarizing an incomplete document. It's specifically prohibited here in CA, too.