A limited power of attorney (an “LPOA”) is a document executed by the borrower and the guarantor to a loan transaction at the time of the closing of the loan, which empowers the lender to make clerical/scrivener changes to the loan documents following the closing of the loan, in each instance without the approval of the borrower and guarantor; our LPOA is intended to be used only in connection with non-recorded documents, e.g., loan agreement, promissory note.
However, some customers may intend to use our LPOA to correct recorded documents, e.g., mortgages, deeds of trust, deeds to secure debt. When the LPOA’s intended use is such, states may require the LPOA to be recorded in the county land records, and, further thereto, to be notarized.
In addition, some states’ laws may require the LPOA be notarized notwithstanding the intended use of the LPOA.
As such, we not only offer our customers the option to include state-specific notary acknowledgments to our LPOA to conform the LPOA to the customer’s intended use of the document, but also set as the “default” option the inclusion of such acknowledgments when required under state law even when the intended use of the document is to only correct non-recorded documents, For example, individuals signing in Florida will default to receive a notary page within their LPOA document. If you would like to remove that default option or add more states to default to including a notary page please reach out to support@godocs.com
Out of an abundance of caution, GoDocs recommends customers check with their counsel to determine whether notary acknowledgments need to be included with an LPOA based on the customer’s intended use of the document. Thereafter, the customer is empowered to check the states, some or all, it would like to include acknowledgments to the document for. These new enhancements will better automate customers' existing practices of choosing to notarize our LPOAs at the time of the closing of the loan.