Revocation of Power of Attorney for Property (Illinois)

The Revocation of Power of Attorney for Property (Illinois) is a legal document that outlines the process of terminating an existing power of attorney arrangement pertaining to property matters in the state of Illinois. This template serves as a comprehensive tool for individuals who wish to withdraw the authority previously granted to an appointed agent or attorney-in-fact to act on their behalf in property-related transactions.

The document begins by clearly identifying the parties involved, including the principal (the individual granting the power of attorney) and the agent (the person appointed to handle property matters). It establishes the effective date of the original power of attorney agreement, ensuring that the revocation is applied to the correct authorization.

Within the template, there are sections addressing specific aspects of the revocation process. These include the principal's clear and unequivocal statement expressing their intention to revoke the power of attorney previously given. The document also covers the provision for the execution of a new power of attorney, if desired.

Additionally, the template outlines the requirements for serving notice of the revocation to all relevant parties, including the agent and any third parties who may have relied on the authority granted by the previous power of attorney. Such notice is necessary to ensure that all involved parties are aware of the revocation and can act accordingly.

To ensure the legal validity of the revocation, the document provides space for the principal's signature, along with the signatures of two witnesses present at the time of signing. This section serves to authenticate the principal's intent to revoke the power of attorney.

The Revocation of Power of Attorney for Property (Illinois) template offers individuals a clear and comprehensive instrument to terminate an existing power of attorney arrangement related to property matters in the state of Illinois, ensuring that their wishes are effectively communicated and legally recognized.