Q: What happens if a POA (for one of the owners of home) is not approved by title company transferring title to buyer?
We are selling our home in PSL. My father, (on the title as one of the owners) has Alzheimer's, and the title company is not approving the POA we have provided. Can the buyer's sue us because of this? Should we seek legal representation?
A: Actually you should have had legal representation way before this. The contract you signed has provisions as to how much time you have to clear title problems. You need to consult with an attorney to determine whether the POA is viable, despite the title company problem with it. The worst scenario is that you will need to set up a guardianship for your father to appoint a guardian who would have the authority to complete the sale. This may take longer than the cure period provided in your contract, at that point it would be up the the proposed buyer as to whether they want to extend the contract or terminate the contract and have their deposit returned. Your best bet now is to get to a transactional real estate attorney as soon as feasible, for his/her opinion on your situation and what you need to do to cure your problem.
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