Conservatorship is a legal term referring to the legal responsibilities of a conservator over the affairs of a person who has been deemed unable to act on his or her own behalf. A request to provide a conservator/guardianship agreement occurs when a transaction is handled by someone other than the named customer. This can occur in transactions that involve:
- Acting and providing signatures on behalf of an individual who is not yet of legal age, as defined by the state
- Representing a customer who is not legally qualified to render decisions or is unable to attend counseling or sign loan documents
The conservator/guardian must provide legal documents to verify that he or she has the authority to obligate the customer. This is typically accomplished with a copy of court documents that verify either:
- Durable power of attorney (must be specifically designed to survive incapacity)
- Legal authority to act as conservator or guardian
Avoid delays in processing your loan
For all documents:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).