An attorney in fact is in a fiduciary relationship with the principal, but only to the extent that the attorney in fact undertakes to act under the power of attorney. Among the fiduciary duties required by law, an attorney in fact has a duty to adequately account to the principal, or to any legal representative of the principal appointed by the principal or by a court, for actions taken by the attorney in fact in the exercise of the power of attorney. It is the intent of the general assembly that this section have retroactive application.
Acts 2007, ch. 8, § 9.
Notes of Decisions
In re Est. of Eloise J. Storey Peggie Sherrill Huber v. Lawrence G. Yohanek, CPA, a/k/a Larry G. Yohanek, Sharron S. Yohanek, & John Gary Storey, No. W2010-00819-COA-R3-CV, 2011 WL 2174901 (Tenn. Ct. App. May 31, 2011).
· cites it 4× “The holder of a power of attorney, i.e., the dominant party, serves in a fiduciary relationship to the grantor of the power to the extent the holder exercises the powers granted.”
Janice Taylor v. Jack Edward Taylor, No. M2007-00565-COA-R3-CV, 2008 WL 1850807 (Tenn. Ct. App. Apr. 24, 2008).
· cites it 2× “See Tenn. Code Ann. § 34-6-107 ; Matlock v. Simpson, 902 S.”
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