What is the name of your state (only U.S. law)? Illinois/Colorado
This is the longeststory of my life, however, i'll try to make it short. My husband was deployed to Iraq before we were married 2 years ago, his father was given a POA that his dads wife printed off of the computer... he signed it, they took it to the bank had it notorized, life went on.. he went to Iraq, and while he was gone, he recieved an inheratiance from a cousin on his mothers side. His dad took this check, with his power of attorney and deposited the money into a CD in his own SSN (his dads SSN), so not only was that bad, because that obviously left him no access to it unless his dad gave it to him, then him and his wife took a shared secured loan for 25 years out against the CD. They used the money to buy a house, which they decided they no longer want, and they quit making the payment. now the loan is eating the money in the CD, they are refusing to give us the deed or keys to the house so i can put it up for sale, and wont make any attempt to return the money they placed in the cd. I got copies of everything i could find, and I came across the POA his dad had while he was gone the first time... (hes in afganistan now, which is why im dealing with it) I found in a section about restrictions it reads, My agent cannot divert my assets to himself, his creditors, or his estate. I don't know much about all this but that sounds to me like the bank shouldnt have put the money in his ssn in the first place... I Also read that a POA not prepaired by an attorney has to be signed by 2 witnesses and notorized to be legit. Im trying to figure out who is at fault and who I need to talk to about re-payment.. obviously his father owes him the money, but he doesnt have the money to give... is the3 bank liable for this? and what are the consiquences for his father and step mother?
This is the longeststory of my life, however, i'll try to make it short. My husband was deployed to Iraq before we were married 2 years ago, his father was given a POA that his dads wife printed off of the computer... he signed it, they took it to the bank had it notorized, life went on.. he went to Iraq, and while he was gone, he recieved an inheratiance from a cousin on his mothers side. His dad took this check, with his power of attorney and deposited the money into a CD in his own SSN (his dads SSN), so not only was that bad, because that obviously left him no access to it unless his dad gave it to him, then him and his wife took a shared secured loan for 25 years out against the CD. They used the money to buy a house, which they decided they no longer want, and they quit making the payment. now the loan is eating the money in the CD, they are refusing to give us the deed or keys to the house so i can put it up for sale, and wont make any attempt to return the money they placed in the cd. I got copies of everything i could find, and I came across the POA his dad had while he was gone the first time... (hes in afganistan now, which is why im dealing with it) I found in a section about restrictions it reads, My agent cannot divert my assets to himself, his creditors, or his estate. I don't know much about all this but that sounds to me like the bank shouldnt have put the money in his ssn in the first place... I Also read that a POA not prepaired by an attorney has to be signed by 2 witnesses and notorized to be legit. Im trying to figure out who is at fault and who I need to talk to about re-payment.. obviously his father owes him the money, but he doesnt have the money to give... is the3 bank liable for this? and what are the consiquences for his father and step mother?
