Minnesota Statutes 523.12 – Power of Attorney-in-Fact to Bind Principal
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Any action taken by the attorney-in-fact pursuant to the power of attorney binds the principal, the principal’s heirs and assigns, and the representative of the estate of the principal in the same manner as though the action was taken by the principal, and, during any time while a guardian or conservator has been appointed for the principal and only the guardian or conservator has the power to take relevant action, as though the action was taken by the guardian or conservator.
Terms Used In Minnesota Statutes 523.12
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- principal: includes a guardian or conservator appointed for the principal at any time; and
(3) "power of attorney" means a validly executed power of attorney. See Minnesota Statutes 523.03