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Estate Planning >> Elder Law >> Is P.O.A. Agent Liable for Lease Payments?
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| Discussion: Is P.O.A. Agent Liable for Lease Payments? | - |
edg209 (Offline)
Vacation Rentals by Owner VR800.com
UNITED STATES |
| Joined 30 Mar 2022 1:08 pm
1 post
Unrated |
10 years ago the P.O.A. for my Father and Mother signed a 12 month lease as P.O.A. for them for a retirement village apartment. After 12 months it became a month to month lease. Father died in 1997 Mother is now in a nursing home and Medicaid is taking all of her monthly income other than $52/mo.
There is no money left other than the $52 to pay an outstanding balance at the retirement center. Is the P.O.A. legally responsible in Indiana to pay the outstanding two months rent balance to the retirement village from his own personal funds
____________________
Bob
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| Joined 26 Jan 2022 1:01 pm
144 posts
9.6/10 Rating |
Dear edg209:
According to Illinois Power of Attorney Act, “… the agent shall use due care to act for the benefit of the principal in accordance with the terms of the agency and shall be liable for negligent exercise. An agent who acts with due care for the benefit of the principal shall not be liable or limited merely because the agent also benefits from the act, has individual or conflicting interests in relation to the property, care or affairs of the principal or acts in a different manner with respect to the agency and the agent's individual interests.”
So, an agent, or attorney in fact, is not personally financially responsible for debts of the Grantor(s) provided he did not act negligently.
Best regards,
Legal Helpmate Corp.
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