Does person (agent) holding 'power of attorney' assume any liablity or responsibility for outstanding liabilities of the 'ma...
Full Question:
Does person (agent) holding 'power of attorney' assume any liablity or responsibility for outstanding liabilities of the 'maker/principal' after all assets and real estate of principal real estate are properly disposed of/sold by the 'agent'?
09/02/2010 |
Category: Power of Attorney |
State: Alabama |
#23087
Answer:
We cannot give legal advice. The following is not a substitute for the advice of a local attorney. But we hope the information will be useful.
Basically the answer to your question is no. The agent/attorney assumes no responsibility for the liabilities of the principal. The agent/attorney acts with the authority of, and on behalf of, the principal. It is as if the principal were doing the acts himself, and any liability that results - or that remains, as you are suggesting - is the responsibility of the principal, not of the agent.
There is good reading on agent/principal liability here:
http://www.google.com/search?q=principal+and+agent+liability
