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My father has dementia. He assigned me s durable power of…

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My father has dementia....
My father has dementia. He assigned me his durable power of attorney in 2007. I am selling his automobile to an individual who is financing a loan through Randolph Brooks. Randolph Brooks is insisting that I turn over the original Durable POA to them. After a long discussion, they agreed to return the original document to me after the transaction is complete, and after the title is successfully transferred but they state they will have to retain it, (send it to the DMV, etc.) it for purposes of proving up the transaction for a period of not less than 2 weeks.
I am uncomfortable with releasing the original document based on a concern that it could be lost.
Does a lender have the right to retain an original Durable Power of Attorney document for any length of time beyond verifying that the notarized document is an original?
Submitted: 2 years ago.Category: Legal
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Answered in 4 minutes by:
2/28/2016
Lawyer: CalAttorney2, Attorney replied 2 years ago
CalAttorney2
CalAttorney2, Attorney
Category: Legal
Satisfied Customers: 10,244
Experience: Civil litigation attorney for individuals and businesses.
Verified

I would not recommend releasing the original of the POA to anyone. That document is very important and I would not let anyone have the original.

If they are not willing to accept a copy of the POA (which they shouldn't need anyway), you may want to consider finding another buyer.

The lender has no legal right to a copy of the original, and trying to get it back is going to be very difficult.

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