M
marlee
Guest
We live in Pennsylvania. Can anyone answer my question regarding legality of Power of Attorney. "John" is a business owenr and also president of a realty corporation holding 99 shares of stock. "Sally" (his wife) was vice-president holding one share. "John" was unable to attend to his business for a short time and gave "Sally" Power of Attorney to conduct his affairs. During this time, Sally gave herself an additonal 50 shares of stock in the realty corporation, unknown to John, until several years later when a divorce is in the works. The property was sold and the divorce court awarded Sally 70% of the monies up to $120,000 and 54% of the monies beyond that amount and ordered John to pay 70% of the taxes on the sale of the property. Sally has no documentation that she really has legal title to more than the one share in the original documented agreement when the corporation was founded. Was she legally entitled to this settlement just because she had power of attorney?