This form is used by a Principal to declare that all power and authority granted under a Power of Attorney, which was not recorded, to a specified individual as Agent and Attorney-in-Fact for Principal is revoked, terminated, and withdrawn as of the Effective Date stated on the form.
Illinois Notice of Revocation of Power of Attorney for an Unrecorded Power of Attorney: Explanation and Types A Notice of Revocation of Power of Attorney for an Unrecorded Power of Attorney is a legal document used in the state of Illinois to cancel or terminate an unrecorded power of attorney. It is important to understand the significance of this notice and its implications when dealing with power of attorney matters in Illinois. Keywords: Illinois, Notice of Revocation, Power of Attorney, Unrecorded, Cancel, Terminate, Legal Document What is a Power of Attorney? A power of attorney (POA) is a legal document that allows an individual, known as the principal, to grant authority to another person, called the agent or attorney-in-fact, to make decisions and act on their behalf in various personal, financial, or legal matters. The agent's powers can be broad or limited, depending on the terms specified in the power of attorney document. Understanding the Need for a Notice of Revocation in Illinois: In Illinois, when an individual grants a power of attorney but decides to revoke it, it is essential to follow the proper legal procedures. Recording a power of attorney is not mandatory in Illinois; however, it is highly recommended ensuring validity and enforceability. If an unrecorded power of attorney needs to be revoked, the principal should provide a written Notice of Revocation to the agent and other interested parties, such as financial institutions, healthcare providers, or third parties who may have relied on the authority conferred by the power of attorney. Types of Illinois Notice of Revocation of Power of Attorney for an Unrecorded Power of Attorney: 1. General Notice of Revocation: This type of notice is used when the principal wishes to completely cancel and terminate the unrecorded power of attorney. It revokes all previously granted powers and authority, effectively ending the agent's ability to act on the principal's behalf. 2. Limited Notice of Revocation: Sometimes, a principal may choose to revoke only specific powers granted in the unrecorded power of attorney while leaving other powers intact. This limited notice should clearly specify the powers being revoked to avoid any confusion or potential disputes. 5. Decoration Notice: Although not specifically a type of revocation notice, it is important to mention the option of decoration. If a power of attorney is revoked, it can be prudent to record the revocation with the appropriate county recorder's office in Illinois. This decoration serves to provide evidence of the revocation, ensuring that interested parties are aware of the change in authority. Conclusion: When dealing with an unrecorded power of attorney in Illinois, it is crucial to follow the proper legal procedures for revocation. The Notice of Revocation serves as an official communication to notify the agent and other interested parties that the power of attorney has been terminated. Whether it is a general or limited revocation, the principal must clearly state their intent to cancel or limit the powers granted. Additionally, consider recording the revocation with the county recorder's office to maintain a clear and documented record of the revocation.
