An Indiana revocation of power of attorney is initiated to cancel the authority previously granted to an agent, either because the task is complete or the principal no longer requires their services. This involves filling out a form with details about the principal and agent, specifying the original power of attorney, and properly signing and dating the document.
It’s important for the principal to notify their agent and any institutions that might act on the power of attorney about the revocation to avoid liability for their continued reliance on the authorization if they are unaware of its termination.
Revocation and Termination
According to § 30-5-10, the attorney-in-fact can exercise a power of attorney in Indiana until it’s terminated. Revocation requires a written instrument signed by the principal and is only effective if the attorney-in-fact has actual knowledge of it.
- Provide a written notice of revocation to the agent and any third parties acting under the power.
- Retrieve all copies of the document from the agent and any institutions where it was presented.
- If registered or recorded with any government office (e.g., for real estate transactions), file the revocation notice with the same office.
Considerations
- It does not terminate automatically in case of the principal’s incapacity unless specified otherwise in the power of attorney.
- The death of the principal doesn’t terminate unless specified otherwise.
- Terminated automatically if the United States Department of Defense provides notice of the principal’s death.
- A report or listing of the principal’s missing or missing in action doesn’t constitute actual notice of the principal’s death or terminate the power of attorney.
Fees
- Notary fees: Notarization is recommended with costs ranging from $2-$10 per signature.
- Recording fees: If the original document was recorded, the revocation should be, too, for $25 to $50, depending on the county.
Resources
- Indiana State Bar Association – A voluntary group of lawyers focused on enhancing law practice and justice administration.
- Indiana Legal Services – Non-profit offering free legal info and services to low-income people.
Related Forms
