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Home >> Special Situations >> Powers of Attorney
Company Acting as POA Cashes My Check; Legal?
I had given power of attorney to a company that leases and then sells homes. I did not know my house had sold until recently. Would this power of attorney allow them to lease and sell my home, then sign my check ($24,000) and keep it without my consent? The check was written to me, with my name.
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 An agent is supposed to act on behalf of its principal, you, in this case. If keeping the proceeds of the check is contrary to your interests, doing so would be a breach of the agent's authority.
Your interests, however, can be affected by the terms of the power of attorney that you signed as well as by the terms of the contract you signed with the company. In other words, without knowing what those legal documents say, no one can say for certain whether you have a legal claim against the company for its actions. You need to discuss your concerns with the company and with a lawyer.
Published on BankingQuestions.com 2/26/09
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