This is a sample of a Power of Attorney to Satisfy Mortgage used to acknowledge that a mortgage obligation has been satisfied and to appoint another to act on behalf of the note holder to cancel and satisfy the mortgage.
Alabama Power of Attorney to Satisfy Mortgage
State:
Alabama
Control #:
AL-E4036
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Alabama Power Of Attorney To Satisfy Mortgage?
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FAQ
Does a Power of Attorney need to be recorded in Alabama? An Alabama Power of Attorney does need to be recorded if the Agent will be purchasing property or engaging in other transactions like that.
The power of attorney must be signed by the principal or by another adult in the principal's presence and under the direction of the principal. The power of attorney is signed and acknowledged before a notary public or is signed by two witnesses.
When a power of attorney is used to execute loan documents, the document must be examined by the lender, title company, or an attorney for one or both of those parties to ensure that it carries the appropriate authority.The language in a power of attorney must be sufficient to provide that authority.
General: Alabama has adopted the Uniform Power of Attorney Act and may be found in Ala.Execution: This power of attorney must be in writing, signed by the principal, dated and notarized. The Principal should sign the power of attorney in the presence of the notary or other person taking the acknowledgment.
For legal advice, you should call a lawyer. To apply for free legal services in Alabama, call the Legal Services Alabama office that is closest to where you live OR call toll-free 1-866-456-4995. You can also apply online HERE.
What attorneys cannot do. We cannot let attorneys run up unsecured debt in someone else's name. This means they cannot apply for credit cards, overdrafts or loans on your behalf. But they can pay off existing debt and manage mortgage payments.
In many states, notarization is required by law to make the durable power of attorney valid. But even where law doesn't require it, custom usually does. A durable power of attorney that isn't notarized may not be accepted by people with whom your attorney-in-fact tries to deal.
You can get a loan on a property which can be transferred on Power of Attorney (PoA). Power of Attorney is the document which gives power and permission to your chosen agent which also includes purchasing property or getting a home loan.
If you are granted power of attorney, you may be able to sign loan agreements on behalf of the person who granted you that power. However, whether you have this right or not depends entirely on factors such as the power of attorney document itself and when you want to enter into the agreement.
