Good faith purchasers; persons accepting authority of attorney in
fact
Sec. 8. (a) A good faith purchaser from a person 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 personal
representative of the estate of the principal.
(b) A person accepting the authority of an attorney in fact to
exercise a power granted under a power of attorney is not liable to
the principal, the heirs and assigns of the principal, or the personal
representative of the principal if:
(1) the person has no actual notice of the revocation of the
power of attorney before the transaction;
(2) the person has no actual knowledge of the death of the
principal; or
(3) the person has no actual knowledge that the duration of the
power of attorney specified in the power of attorney, if a
duration is specified, has not expired.
As added by P.L.149-1991, SEC.2.
Last modified: May 27, 2006