Tel:  (416) 520-6120
(To 11pm 7days/week)
Fax: (416) 222-4277
quote@homelegalcost.com

STEPHEN H. SHUB PROFESSIONAL CORPORATION
BARRISTER, SOLICITOR, NOTARY
7 Toronto Area Law Offices Providing Legal Services in ONLY
Residential Real Estate, Title Insurance, Wills, Notary Services

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LIMITED POWER OF ATTORNEY
FOR REAL ESTATE TRANSACTIONS

FREE LIMITED POWER OF ATTORNEY: If a power of attorney is needed for a listing, offer, mortgage, or for the closing of residential real estate , you may print out such a form of power of attorney from this website AT NO COST TO YOU and use it for your Ontario real estate transaction by clicking on the box below for POWER OF ATTORNEY FORMS.

NOTE: When using a signed power of attorney form, such a power of attorney form CANNOT be used for purposes of mortgage financing or title transfer/sale UNLESS the buyer(s) or owner(s), who granted the power of attorney ALSO;

(i) provides our law office (by clicking on POWER OF ATTORNEY FORMS) with an original signed power of attorney document (prior to the date of closing the transaction) with ONE of the two witnesses being a lawyer, an attorney, a notary public or a government official with an official stamp or seal being used beside the signature of the witness; PLUS you MUST provide OUR office with a completed IDENTITY VERIFICATION FORM by a lawyer, notary, attorney or government official with an official stamp or seal to verify identification of whoever is signing the Power of Attorney.

(ii)immediately send, (by fax) a copy of the signed Power of Attorney to our office in Toronto at 416-222-4277 together with a LEGIBLE copy of an unexpired photo identification (current valid passport or driver’s licence) as well as a signed and fully completed FAX FORM regarding a power of attorney reflecting the current date and stating that the power of attorney granted to (insert name of person) for (buying/selling/refinancing) the (property address) is still valid and to be used for the completion of the transaction, with such fax being signed and showing contact residence and business telephone numbers fax for the person signing the fax form.

NOTE: POWER OF ATTORNEY USED FOR BUYING or REFINANCING:
Be aware that if a power of attorney is being used for a purchase with a mortgage or refinance, the mortgage lender must pre-approve the use of the Power of Attorney or the lender might refuse to provide mortgage funds on the closing date. Mortgage lenders will usually approve the use of a Power of Attorney when the borrower is an existing customer of the lending bank AND an Ontario lawyer has witnessed the power of attorney being used. ALSO, the mortgage lender will require a legible copy of a second form of identification to be sent to the lawyer prior to closing

NOTE: POWER OF ATTORNEY USED FOR SALE or REFINANCE: Net sale proceeds will ONLY be payable to the registered owner(s) and not to the name of the person having the power of attorney.

POWER OF ATTORNEY FORMS

POWER OF ATTORNEY FOR PROPERTY: This type of power of attorney (to a person over 18 years of age) appoints a person(s) of your choosing to make decisions about your PROPERTY and your FINANCES, on your behalf. This may include things such as signing documents, paying bills, selling or refinancing your real property. But remember, your property will still belong to you and must be managed by your attorney in your best interests and in accordance with the law.

POWER OF ATTORNEY FOR PERSONAL CARE: In Ontario, The Substitute Decisions Act of Ontario allows you to appoint a trusted individual(s) (over 16 years of age), in advance, to make decisions for you if you become mentally incapable. This type of power of attorney gives a person of your choice the authority to make decisions about your PERSONAL CARE should you become mentally incapable. Decisions about personal care involve things such as where you live, what you eat, and the kind of medical treatment you receive. You may give your attorney special instructions about the particular kind of care you want or in fact do not want (sometimes this power of attorney is called a Living Will).

WARNING: Giving any power of attorney is a serious matter. You are giving the person you appoint significant power over your property and/or health care. There is always a risk that your attorney could misuse this power. If you have any doubts about the motives or ability of the person you are considering (or are under any pressure from your proposed attorney) do not appoint that person. It is your decision and you must weigh it carefully. In each case, you may appoint more than one attorney, so that both may be required to sign for you.

EFFECTIVE DATE: The power of attorney will be effective immediately, when it is signed and given to the attorney, unless you decide and specifically state in the power of attorney that you want it to come into effect at a later date or under specific circumstances. The form says what authority your appointed attorney will have over your financial affairs. If you do not put in conditions or restrictions, the attorney will have the power to do anything with your property that you could do yourself if you were mentally capable (except make a will).

 

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Stephen H. Shub Professional Corporation
Barrister, Solicitor, Notary
(Head Office) 5799 Yonge St. #803, Toronto, Ontario Canada M2M 3V3
Tel: (416) 520-6120 • Fax: (416) 222-4277 •
Email: quote@homelegalcost.com

Copyright © 1999 and 2014 Stephen H. Shub. All Rights Reserved.
(See Copyright and Disclaimer)