There are often situations where a couple purchases a home together but one spouse has another important engagement that makes it impossible for them to be present at closing day. However, when both names are on the mortgage, it is necessary for both parties to sign the documents at closing. Many people may worry about what they can do to overcome this hurdle in an already-complicated process of purchasing a house.
Luckily, this isn’t too big of a deal and the couple can obtain a power of attorney that will allow one spouse to sign on behalf of themselves and the spouse that cannot be at closing. This will make the entire process significantly easier and remove the worry of a delayed closing. Obtaining a power of attorney is especially helpful to obtain for couples that spend a significant amount of time apart, such as those with a spouse in the military or who travels frequently on business. When time spent apart is often unknown far in advance and it may last for a long time, a power of attorney can make all the difference, especially in matters or real estate or other financial transactions.
If you need to assign a power of attorney, contact our firm today.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.