Oregon Revocation of Power of Attorney for an Unrecorded Power of Attorney

State:
Multi-State
Control #:
US-OG-025
Format:
Word; 
Rich Text
Instant download

Description

This revocation serves to terminate the authority of an agent/attorney in fact, under an unrecorded power of attorney.

How to fill out Revocation Of Power Of Attorney For An Unrecorded Power Of Attorney?

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FAQ

When making a power of attorney, the principal can choose one agent, or can choose two, three, or even more agents. While having more than one agent for a power of attorney can provide a good set of checks and balances, in some cases it can be difficult for co-agents to agree on a specific course of action.

If your agent will engage in real estate transactions, the Power of Attorney must be signed before a notary public and recorded or filed with the county.

A power of attorney and a guardianship are tools that help someone act in your stead if you become incapacitated. With a power of attorney, you choose who you want to act for you. In a guardianship proceeding, the court chooses who will act as guardian.

You can end the agent's authority by revoking the authority in writing. All powers of attorney end upon your death. A power of attorney generally become effective when you sign the document. Oregon law also specifically allows powers of attorney that take effect at the time other than when signed.

Naming Two People You can name more than one person as your POA. These people will work together to make decisions for you. However, if you name more than one person, you should also consider a method to deal with disputes. You might need to have a third party involved to ?break ties? when your agents disagree.

A Revocation of Power of Attorney must plainly state your desire to revoke a previous POA and include: The principal's name. The attorney-in-fact's name. The date the Power of Attorney took effect. The date the Power of Attorney is revoked. A notary public seal of certification (only required in certain states)

The Oregon Limited (Special) Power of Attorney is an express contract configured to bestow a fixed allotment of allowed actions to be performed by a designated agent. The document serves to deliver a finite amount of privileges to an attorney-in-fact to take care of financial matters for a declaring owner.

The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.

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Oregon Revocation of Power of Attorney for an Unrecorded Power of Attorney