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Notarization Requirement While Mississippi's power of attorney laws are silent on the subject of notarization, signing your POA in the presence of a notary public is very strongly recommended.
A Mississippi durable power of attorney form is a document that allows a person (principal) to choose someone else to handle their business and financial affairs. The person selected will be able to keep representing the principal for financial matters even in the event of incapacitation.
If a person wants to authorise someone to act as a power of attorney on his behalf, it must be signed and notarised by a certified notary advocate, who is able to declare that you are competent at the time of signing the document to issue the said power of attorney.
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.
The three most common types of powers of attorney that delegate authority to an agent to handle your financial affairs are the following: General power of attorney. Limited power of attorney. Durable power of attorney.
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.
Legal Requirements for Durable Power of Attorney In writing. Dated. Signed by the principal or creator of the power of attorney or advance directive. Signed by two adult witnesses, at least one of whom isn't related to principal OR acknowledged by a notary public.
The requirements and restrictions vary in each state; however, in Mississippi, your document will require notarization. If your agent will have the authority to manage real estate transactions, the Power of Attorney will need to be acknowledged by a notary and recorded or filed with the county.
One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agent's activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.
You cannot give an attorney the power to: act in a way or make a decision that you cannot normally do yourself for example, anything outside the law. consent to a deprivation of liberty being imposed on you, without a court order.