My father made a General Power of attorney in March 2015, where in he made my mother, brother, sister and myself as the holders of POA.
I wish to know will I or POA holders be responsible for acts or decisions made by my father before the POA was made?
Asked in Property Law from Mumbai, Maharashtra
you and other holders would not be responsible for acts or decisions made by your father before POA was made .
1. In so far as the POA ratifies the acts done by your father prior to the date of execution of POA you will be responsible.
2. Your acts will also bind your father.
No, the agent can't be held responsible for the past acts of the principal. However the principal can ratify the past acts of the agent.
A. The person appointed is usually called an Attorney-in-Fact. A power of attorney which doesn't provide for a successor attorney-in-fact to be appointed will terminate at the death of the attorney-in-fact.
B. But generally, a power of attorney must be complied with unless the person to whom it is directed has reasonable cause to doubt the authority of the agent. It is an unilateral agreement, you are not liable for the any acts or decisions made by your father. Moreover, you can cancel or terminate the POA if you are attorney holder by issuing a notice through registered post.
1. The POA was executed authorising you to permorm certain acts for and on behalf of your father,
2. The agreements entered into by you based on the said POA will be binding on your father,
3. Under no circumstances, your father's act either before or after executing the said POA will be binding on you.
No you or any of the holders cannot be made liable for any decisions made by your father before the POA was executed. only your father personally would be liable for his actions.
The role of power agents will be enforced from the date of the execution of the said deed only and not before it. Any act done by the principal before the execution of the POA deed in question will not be binding on the power agents.
In fact the action done by the power agents on behalf of the principle will be binding on the principle and he is obliged to ratify the same.
1. POA is governed by the terms contained in the document.
2. generally POA does not affect and cause effect any decision which has taken prior to the execution of POA.
3. But liability may be created towards previous act by insertion of terms in the POA.
4. You should read carefully the POA and if there is saving clause then POA holder shall not be responsible for any act or decision taken before the execution.
In Swami Vivekanand College Of Edu.& ors vs Union Of India, it is held by the supreme court that generally POA has no retrospective effect but maker of the deed has right to to do so. if it is drafted for creating retrospective effect then such POA holder is liable for the act done before execution of POA.