Maryland Durable Power of Attorney to Execute Oil and Gas Lease
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How to fill out Durable Power Of Attorney To Execute Oil And Gas Lease?
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FAQ
For your POA to be valid in Maryland, it must meet certain requirements. Mental Capacity for Creating a POA. ... Notarization and Witnessing Requirement. ... Create the POA Using a Statutory Form, Software, or Attorney. ... Sign the POA in the Presence of a Notary Public and Witnesses. ... Store the Original POA in a Safe Place.
By filing Form 548 with the Comptroller of Maryland, you will be able to effectively revoke your POA. It is important to note however that a POA can only be revoked if you are mentally competent. If you are incapacitated you cannot revoke a POA.
The POA must be signed by the principal (or someone the principal directs to sign on their behalf, in the principal's presence). The POA must be signed in the physical or electronic presence (i.e., able to communicate in real time) of at least two adult witnesses. Maryland General Assembly.
A: While the law does not prohibit relatives from acting as a witness to a POA, best practice is to have the witnesses be disinterested non-relatives if possible.
The law still requires that signatures be witnessed and properly notarized. While the law allows for the execution of POAs digitally, not all parties provided an electronically signed POA have been willing to accept the POA, as described below.
Revoking a Power of Attorney If you previously filed a power of attorney and you want to revoke it, you may use Form 548 to change your representatives or alter the powers granted to them by filing the form with the Comptroller of Maryland.
