Revocation of Power of Attorney in Greater Noida
Residents of Greater Noida who have executed a Power of Attorney might face various problems such as lost trust in Attorney; fear of getting cheated; found someone else more trustworthy etc. So, in such circumstances, the principal can revoke the power of attorney and for that, he can execute a Revocation of Power of Attorney deed.
Revocation of Power of Attorney Deed in Greater Noida
In most cases, Power of Attorney is drafted for a certain transaction which the Principal is unwilling to conduct himself. In such circumstances, the attorney’s powers end when the transaction comes to an end. There are cases that can lead to cancellation of Power of Attorney deed:
- Death of Principal
- Issue of Power of Attorney document
- The act has come to an end for which POA was created
- The principal has lost trust in Attorney
- The principal has found someone more trustworthy who can act on his/her behalf
- Appointed Attorney could not be able to perform his duties
The best way to cancel a Power of Attorney is by creating another legal document which is called the Revocation of Power of Attorney. This legal document indicates that whatever powers were bestowed on Attorney stands canceled. It is a written confirmation that the Principal has revoked all the powers which were given to the attorney.
Details to be included in Revocation of Power of Attorney Deed
The Revocation Power of Attorney Deed should include:
- Name of Principal same as in the previous deed
- Date of power of attorney deed which is now being canceled
- Name of Attorney in whose favor the power was granted in the previous deed
- Date and Reason for Revocation of Power of Attorney
Consequences of not Revoking Power of Attorney
- The attorney will continue to conduct and execute actions on your behalf that do not benefit you.
- If the attorney is clever enough, he may use your money and property.
- If the given POA is permanent, the attorney may make significant use of its powers while maintaining this power despite the incompetence of the Grantor.
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