Any party accepting the authority of an attorney-in-fact to exercise a power granted by a power of attorney is not liable to the principal, to the heirs and assigns of the principal, or to any representative of the estate of the principal if: (1) the applicable provisions of sections 523.17 and 523.18 have been satisfied; (2) the provisions of section 523.16 have been satisfied, if applicable; (3) the party has no actual notice of the revocation of the power of attorney prior to the transaction; (4) the party has no actual knowledge of the death of the principal and, if the power of attorney is not a durable power of attorney, has not received actual notice of a judicial determination that the principal is legally incapacitated or incompetent; and (5) the duration of the power of attorney specified in the power of attorney itself, if any, has not expired. A good faith purchaser from any party who has obtained an interest in property from an attorney-in-fact is not liable to the principal, the heirs or assigns of the principal, or the representative of the estate of the principal.
1984 c 603 s 21; 1992 c 548 s 18
Structure Minnesota Statutes
Chapters 520 - 523 — Fiduciaries; Powers Of Attorney
Chapter 523 — Powers Of Attorney
Section 523.01 — Authorization.
Section 523.02 — Common Law, Preexisting And Foreign Powers Of Attorney.
Section 523.04 — Presumption Of Valid Execution.
Section 523.06 — Certification.
Section 523.07 — Durable Power Of Attorney.
Section 523.075 — Expiration Date In A Power Of Attorney.
Section 523.08 — Termination Of A Durable Power.
Section 523.09 — Termination Of A Nondurable Power Of Attorney.
Section 523.10 — Missing Persons Presumed Living.
Section 523.11 — Revocation Of A Power.
Section 523.12 — Power Of Attorney-in-fact To Bind Principal.
Section 523.13 — Multiple Attorneys-in-fact.
Section 523.14 — Successor Attorney-in-fact Not Liable For Acts Of Predecessor.
Section 523.15 — Co-attorneys-in-fact Not Liable For Acts Of Each Other.
Section 523.16 — Affidavit As Proof Of Authority Of Attorney-in-fact.
Section 523.18 — Signature Of Attorney-in-fact As Conclusive Proof Of Nontermination.
Section 523.19 — Third Parties Held Harmless.
Section 523.21 — Duties Of An Attorney-in-fact.
Section 523.22 — Liability Of Attorney-in-fact For Improper Execution Of Affidavits And Signature.