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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
The document titled 'Power of Attorney - Individual' is a legal deed of revocation that is used to revoke a previously granted power of attorney. This document is important as it allows an individual (referred to as 'party 1') to legally revoke the authority given to another person (referred to as 'party 2') to act on their behalf. The revocation is made in accordance with the laws of the jurisdiction state and takes immediate effect.
The document consists of the following sections:
1. Title: The title of the document is 'Power of Attorney - Individual'. This clearly indicates the purpose and nature of the document.
2. Introduction: The introduction states that the deed of revocation is being made by party 1 on the current date. It also mentions the name and address of party 1.
3. Revocation of Power of Attorney: This section explicitly states that party 1 is revoking the power of attorney dated [date]. It also mentions the name and address of party 2 as the attorney being revoked.
4. Legal Compliance: This section states that the revocation is being made in accordance with the laws of the jurisdiction state.
5. Execution: The execution section includes a statement that party 1 has signed and sealed the document. It also provides space for the signature of a witness, along with their name, title/occupation, and address.
The 'Power of Attorney - Individual' document is crucial for individuals who wish to revoke a previously granted power of attorney. It ensures that the revocation is done legally and effectively, providing a clear record of the revocation for both parties involved.
To use the 'Power of Attorney - Individual' document, follow these steps:
1. Fill in the necessary information: Enter the current date, the name and address of party 1, and the name and address of party 2 in the respective fields provided. This will ensure that the document is personalized and accurately reflects the parties involved.
2. Understand the legal implications: Familiarize yourself with the laws of the jurisdiction state regarding the revocation of power of attorney. This will ensure that you are aware of the legal requirements and consequences of the revocation.
3. Review the existing power of attorney: Retrieve the original power of attorney document that you wish to revoke. Carefully read through its contents to understand the scope and extent of the authority granted to party 2.
4. Prepare the revocation deed: Use the provided template to draft the revocation deed. Ensure that you clearly state the date of the original power of attorney, as well as the name and address of party 2 as the attorney being revoked.
5. Seek legal advice if necessary: If you have any doubts or concerns regarding the revocation process, consult with a legal professional. They can provide guidance and ensure that the revocation is done correctly.
6. Sign and seal the document: Once the revocation deed is prepared, sign it in the designated space. Additionally, have a witness sign the document and provide their name, title/occupation, and address.
7. Keep a copy for your records: Make copies of the executed revocation deed for both parties involved. It is important to have a record of the revocation for future reference.
By following these steps, you can effectively use the 'Power of Attorney - Individual' document to revoke a previously granted power of attorney in a legally compliant manner.