Does an owner lose their rights when signing a power of attorney?

[Biscuits&Gravy]

What is the name of your state (only U.S. law)? CA

For example, I've seen a lot of these short sale people that want to help a homeowner and they have the owner sign a power of attorney. Many will say it's a scam or what not, but once an owner signs the power of attorney can they cancel it or do they lose all control?

 

[justalayman]

Absolutely not but...



if the agent takes action on behalf of the principal, that will be determined to be enforceable. If the principle has an issue with it, they can sue the agent to attempt to recover any losses.

A power of attorney can be cancelled anytime at either party's discretion as well but if it is not cancelled "properly" it could still be considered to be in force for any particular issue. That could leave the principal on the short end of the stick.


As well, the agent is bound to act in the best interests of the principle. If they should fail to do so, it would allow the principal to sue to recover any damages.