The New Mexico revocation of power of attorney form is an official document intended to terminate an existing agreement that grants certain powers to a designated representative. This form is useful for individuals who wish to end an arrangement that grants authority to another person. The document enables the principal to revoke medical, financial, and other types of Powers of Attorney upon execution by the declaring party.
Legal Considerations
Statute – New Mexico Statutes – Uniform Power of Attorney Act (§ 45-5B-101 – 45-5B-403).
Definition – § 46-2B-8.10.
Signing Requirements – Notary Public (§ 45-5B-105).
Revocation and Termination
To revoke a Power of Attorney (POA) in New Mexico before its expiration, follow these steps:
- Draft Revocation Notice: Create a written notice including the principal’s and agent’s names, and the date the original POA was executed. Sign and date the document.
- Deliver Notice to Agent: Send the revocation notice to the agent either in person or via certified mail to ensure proof of receipt.
- Inform Third Parties: Notify any third parties (such as banks) dealing with the agent under the POA.
- Record Durable POA Revocation: If it’s a durable POA, record the revocation at the local county recorder’s office where the original POA was filed.
- Effectiveness: The revocation becomes effective immediately, terminating the agent’s authority to act.
Fees
- Notary Fees: In New Mexico, notarizing a POA revocation document costs between $5 and $10 per signature.
- Legal Fees: Consulting an attorney is advisable for complex POA issues, with fees depending on the situation’s complexity and the lawyer’s experience. Fees might be a flat rate ($100 to $500) or hourly.
- Recording Fees: To revoke a recorded POA, submit the revocation at the same New Mexico County Clerk’s Office. Fees vary by county, typically ranging from $25 to $50.
Related Forms
Medical Power of Attorney
Signing Requirements: Two witnesses are recommended but not required. (§ 24-7A-4(Part 3)).
