Hi,

I am in the process of selling my business. A condition of the lease assignment is the following:

Assignor and Guarantor or Guarantor's attorney in fact pursuant to the POA, shall continue to be liable under the Lease as for all obligations of the Tenant.

the assignor is a corporation of which I am president
guarantor is my father
guarantor's attorney pursuant to POA is myself as my father is currently out of the country.

my question is the following, if the new tenant defaults on the lease, I understand that my corporation and my father have liabillity, but do I have an liability due to the Power of Attorney (ie. can any seize my personal assets)

thank you in advance.

It depends on the terms of the POA. A Power of Attorney is simply authority to act on someone elses behalf. In most situations, a person appointed as someone's attorny-in-fact pursuant to a POA can not be held personally liable for that of the principal. However, you would need your particular legal documents reviewed by an attorney to determine the scope of your personal liability, if any, in the matter. You can find an attorney through the locator service on LawInfo's home page at: http://www.lawinfo.com/.