This is a template used to create and fill-out a Revocation of Power of Attorney Form which is a document between a borrower and a lender containing details of the loan for record and tracking of payment.
A power of attorney is a form that gives someone else the authority to make decisions on your behalf. Sometimes this is only if you become mentally incompetent. Sometimes the power of attorney allows them to make decisions on your behalf even if you are mentally competent and able to make your own decisions.
If you have appointed someone as your power of attorney whether that power of attorney is contingent on you becoming mentally incompetent or not and you want to revoke those privileges there are two ways to do it:
Create a new power of attorney and appoint somebody else this really depends on what the original power of attorney said. Some power of attorney documents provide that if new power of attorney is appointed, ever for a new agent is appointed through a new power of attorney, the old power of attorney is automatically revoked. So one simple way to do this is just create a new power of attorney and appoint a different agent.
Another way to do it is through a power of attorney revocation form and this is a little bit more of a complicated process. The power of attorney revocation form is a written statement that the old power of attorney is no longer valid. It will include:
- the name and address of the previous agent
- your name and address and
- the date that the original power of attorney was made
- it should be executed in the same way that the original power of attorney was executed
- preferably in the presence of two witnesses
- it’ll be filed with the County Clerk
- the clerk will file stamp the power of attorney form
You can then provide these files stamped copies to your financial institutions to let them know ahead of time that this power of attorney has been revoked and that way if that person tries to use the old power of attorney. Your important financial institutions will know that it’s no longer valid. You should save the old power of attorney but print revoked across the top of all the page just so that if anyone comes across it they know it is no longer valid.
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