Power of Attorney Question

[Billy V.]

Hey BP Nation,

Got a call from my agent today that the buyers (husband and wife) of my property were all set to close till the husband had some kind of severe medical issue. He is in the ICU and apparently (obviously) unable to sign. I expressed my concern and wished them well. My agent then told me that they still want to close as planned. The wife has a power of attorney and delivered it to title yesterday.

I called the title company and they said they denied it. I asked why and the EO stated that it was 15 years old. She then explained that she forward it to the "big wigs" at there corporate headquarters for approval.

My question, for anyone with experience with POA's, is does a POA go bad? Just because it is 15 years old this should not make it invalid (in my opinion). Barring any instructions or date of expiration, why the automatic denial based on age?

What happens if the corporate headquarters also denies it? I am not sure the husband will be out of the hospital anytime soon and title is not going to allow his wife to act as POA. Is this the end of the deal?

Thanks,

Billy

[Billy V.]

Thanks for the responses. It looks like there are a lot of variable that can play into the acceptance of a POA.

As for my deal they did end up accepting the POA with conditions.

-1. Original POA must be present at signing

-2. Person POA was for must be alive at COE

Thanks for the input.

Billy