0
The Power of Attorney has a fiduciary duty to the grantor. If they mismanage funds or make poor decisions they can be held liable.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What if i am listed as POA on parents' reverse mortgage?
POA won't have any personal implications for you as the only recourse on a reverse mortgage is against the property, not against any borrowers or heirs. All the POA will do is enable you to communicate with the lender on your parents behalf.
Do I have debt responsibility as a POA for my Mother?
personally no. However, as POA you act as your mother's agent and must pay her debts as they become due. If you mismanage her funds, then you may have some responsibility.
Are you liable for your husbands credit card?
Yes, you are liable for your husbands credit card.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
What does POA mean relating to non-agency mortgage backed securities?
Payment Option Arm
Can POA agent be respossible for principal's depts?
The Power of Attorney is not personally responsible. If they have mis-managed the funds, they could be held liable to the grantor of the responsibility.
Are you financially liable if you accept Power of attorney over a distant relative?
No. A POA gives you the authority to act for them on their behalf and at their direction. It creates no liability on your part unless you misuse it.
Does having power of attorney for someone incarcerated make you financially liable?
You are not personally responsible for any debts or obligations incurred by the incarcerated person. HOWEVER, the POA makes you a 'steward' of that person's property and if you squander or 'waste' it while administering it you could be held liable.
Can a power of attorney have a criminal record?
Used HOW ? An individual, whether they have POA or not, cannot appear instead of, or testify on behalf of, another person.This question is not complete , as POA holder get certain right gain from person who signed POA. In criminal case accused is liable for number of things, and these liabilities are absolute . POA gives certain right to advocate so advocate is competent to take some action on behalf of accused, entire liability remains with accused no transfer or delegation is possible.
What does POA stand for?
Price on application (POA)
Can a POA sue a person even if the person who assigned POA is dead?
No. A POA expires when the principal dies.
Can a POA for someone endorse a check for them and then deposit the check into the POA's account?
cAN A poa NAME THEMSELVES AS A BENEFICARY
How you say police in Punjabi language?
poa poa
When might someone performing cardio pulmonary resusitation be liable for damages?
You would be liable for damages if you did something outside your scope or something that was deemed inappropriate. Good Samaritan Laws are in place in most states to protect civilians when performing First Aid.
What is the population of Poa Department?
The population of Poa Department is 30,406.
When was Poa palustris created?
Poa palustris was created in 1759.
When was Poa diaboli created?
Poa diaboli was created in 2003.
