Power of attorney
A legal document that lets one person sign for another. Using one at closing usually needs advance approval from the lender and title company.
Also called: POA, attorney-in-fact
Related terms
The final step of a sale, when documents are signed, money changes hands, the deed is recorded and the buyer gets ownership. In some states everyone signs at a table; in others signing and funding happen separately.
The signed legal document that transfers ownership from the seller to the buyer. It is recorded with the county after closing to make the transfer part of the public record.
The court process for settling a deceased person's estate, including selling real estate. Probate sales can take longer and may need court approval, depending on the state.
A lawyer who reviews contracts, clears title issues and may run the closing. Some states require an attorney at closing; in others they are optional and hired for complex deals or disputes.