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Power of attorney question?

Discussion in 'Ask An Owner Operator' started by Thorxr10, Mar 2, 2013.

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  1. Mar 2, 2013 #1
    Thorxr10

    Thorxr10 Light Load Member

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    Has anyone else leased on with a company and the title company requested a signed POT, any ideas why I would need to do this? The truck is paid for and in my name
     
    Thorxr10, Mar 2, 2013
    Thorxr10, Mar 2, 2013
    #1
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  3. Mar 2, 2013 #2
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    Most likely so they can file and get your plates, insurance.
     
    bullhaulerswife, Mar 2, 2013
    bullhaulerswife, Mar 2, 2013
    #2
  4. Mar 2, 2013 #3
    Thorxr10

    Thorxr10 Light Load Member

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    Does that give them the ability to take my truck from me at any time?
     
    Thorxr10, Mar 2, 2013
    Thorxr10, Mar 2, 2013
    #3
  5. Mar 2, 2013 #4
    Thorxr10

    Thorxr10 Light Load Member

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    ImageUploadedByTapatalk1362249961.331399.jpg should I be worried?
     
    Thorxr10, Mar 2, 2013
    Thorxr10, Mar 2, 2013
    #4
  7. Mar 2, 2013 #5
    Marlin46

    Marlin46 Medium Load Member

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    No - As Bullhauler stated it gives them the power to file documents with the state, IFTA, DOT, etc...on your behalf and and on there behalf which for most of the purposes is the same. It allows them to file for and get your IFTA sticker and to pay those taxes on your behalf.
     
    Marlin46, Mar 2, 2013
    Marlin46, Mar 2, 2013
    #5
    bullhaulerswife Thanks this.
  8. Mar 2, 2013 #6
    Thorxr10

    Thorxr10 Light Load Member

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    Thank you, I'm suppost to meet and get this done in a bit and my brother in law/banker put a scare in me about it.
     
    Thorxr10, Mar 2, 2013
    Thorxr10, Mar 2, 2013
    #6
    bullhaulerswife Thanks this.
  9. Mar 2, 2013 #7
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    The title is in your name, and it will remain in your name. I don't think you have anything to worry about here.
     
    bullhaulerswife, Mar 2, 2013
    bullhaulerswife, Mar 2, 2013
    #7
    Thorxr10 Thanks this.
  10. Mar 2, 2013 #8
    carrkool

    carrkool Heavy Load Member

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    May 10, 2012
    adah, pa
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    No i have NEVER heard of that. First i would ask what they want it for and get Details. and if you choose to give them one make it a limited POA with only those details in it. If you give them a full POA they can take your truck sign your divorse papers take your bank account and buy what ever they want under your name...personal i would never give them one. Only people that have one for me are my Wife and my Mother. They dont need on for ifta stickers or ifta tax. either they have an account you run under or you have your own account. If they are running your account there is an issue. never let someone run your accounts.
     
    carrkool, Mar 2, 2013
    carrkool, Mar 2, 2013
    #8
  11. Mar 2, 2013 #9
    NYROADIE

    NYROADIE Heavy Load Member

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    Jun 24, 2010
    Rochester NY
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    Ya beat me to it! Just what she said! MAKE SURE IT'S A LIMITED POA!! It should list axactly what its to be used for right on the POA.
     
    NYROADIE, Mar 2, 2013
    NYROADIE, Mar 2, 2013
    #9
  12. Mar 2, 2013 #10
    wichris

    wichris Road Train Member

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    There are states that require the carrier to have a limited POA to license an O/O's truck or they have to license it themselves.
     
    wichris, Mar 2, 2013
    wichris, Mar 2, 2013
    #10
    Racha Thanks this.
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