Guam Power of Attorney Revocation: A Comprehensive Description Introduction: The Guam Power of Attorney Revocation refers to a legal procedure that allows individuals in Guam to revoke or cancel a previously appointed power of attorney. A power of attorney grants someone else, known as the agent or attorney-in-fact, the authority to act on behalf of the person creating the power of attorney, known as the principal. However, situations may arise where the principal wants to terminate or withdraw the powers granted to the agent. Understanding the Guam Power of Attorney Revocation is essential in ensuring the smooth execution of this legal process. Understanding Guam Power of Attorney: A power of attorney is a legal document that delegates certain powers or authority from the principal to the agent. This authorization can cover various areas, such as medical decisions, financial matters, property transactions, and more, depending on the specific terms mentioned in the power of attorney document. In Guam, powers of attorney are governed by specific laws and regulations. The Need for Revocation: There are numerous reasons why individuals in Guam might want to revoke a power of attorney. These include changes in personal circumstances, deteriorating health conditions, mistrust in the agent, completion of the designated tasks, or simply the desire to appoint a new agent. Whatever the reason may be, executing the revocation process appropriately is crucial to avoid any complications or misunderstandings. Process of Revoking a Guam Power of Attorney: Revoking a power of attorney in Guam typically involves the following steps: 1. Preparation: The principal must first prepare a written Revocation of Power of Attorney document. This document should clearly state the intent to revoke the previously granted powers, include the date of revocation, and identify the original power of attorney, specifying its execution date. The revocation document should be executed with similar formalities as required for the original power of attorney. 2. Notification: The principal must inform the agent about the revocation of the power of attorney. This can be done via certified mail, return receipt requested, to ensure proof of delivery. The notification should include a copy of the revocation document to ensure clarity and remove any doubts regarding the revocation. 3. Third-Party Notification: In situations where the agent had already acted on behalf of the principal before receiving the revocation notice, it is essential to notify relevant third parties. These third-party entities might include financial institutions, healthcare providers, government agencies, or any other party that had previously acknowledged or relied upon the power of attorney. Providing them with a copy of the revocation document helps prevent any further actions taken by the agent without the principal's consent. Types of Guam Power of Attorney Revocation: Various types of power of attorney revocations exist based on the circumstance or purpose: 1. Specific Revocation: This type of revocation is used when the principal wants to terminate the power of attorney for a particular purpose while keeping the remaining powers intact. For example, revoking only the agent's authority over property transactions while retaining the authority over healthcare decisions. 2. Complete Revocation: Complete revocations nullify the entire power of attorney previously granted to the agent. It terminates all powers, authorities, and responsibilities vested in the agent, revoking all prior agreements and authorizations. Conclusion: Understanding the Guam Power of Attorney Revocation is crucial for individuals who wish to terminate or modify a previously appointed power of attorney. By following the appropriate steps and ensuring proper notifications, the principal can revoke the powers granted to the agent effectively. Whether a specific or complete revocation, careful consideration should be given to avoid any legal conflicts and ensure the smooth transition of authority.
Guam Power of Attorney Revocation
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To cancel a Power of Attorney, the principal can create a document called a Revocation of Power of Attorney or create a new Power of Attorney that indicates the previous Power of Attorney is revoked.
Such Power of Attorney may be revoked by the principal or the Power of Attorney holder by the procedure according to law. For revocation of irrevocable Power of Attorney, the principal is required to issue a public notice through local newspapers, without which, the revocation shall stand void.
The donor of the power of attorney will have to get a registered cancellation deed (registered from the office of the respective sub-registrar). After that, the principal has to give the holder of the power of attorney the registered cancellation deed, informing him or her of the cancellation.
Section 202 of the Act states that if the agent in a principal-agent relationship has an interest in the agency then, the power of attorney cannot be revoked without the consent of the agent.
A notice of revocation of the PoA should be put in a local or national newspaper such that persons with whom the PoA has been interacting with on behalf of the authorising person is informed about the revocation. The Cancellation deed will have to be registered by the same authority who registered the PoA.
Although a PoA is something when granted is of an irrevocable nature, if there is gross mismanagement on part of the agent, if the agent breaches the terms of the contract or if the agent acts beyond the scope of the powers, then the PoA can be revoked.
In most instances, as long as the principal is mentally competent, a Power of Attorney can be revoked at any time, even if there is a different specified termination date in the document.
Some of the conditions for revocation are ( by virtue of Section 201 of the Indian Contract Act, 1872): If the principal revokes the Power of Attorney granted to the agent. If either the principal or the Power of Attorney holder or both become unsound of mind, die or is/are adjudicated as insolvent by the court.
The General Power of Attorney can be revoked in the same manner which is, Get a notarized document drafted for revocation of the Power of Attorney expressing clearly that you want to revoke the authority of the said person.
