Power of Attorney Forms - Durable Power of Attorney for Property Finances, Medical, Health Care, General, Child Care POA, Limited and Specific, legal form service online
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Termination Effects.
when a Power of Attorney is terminated, the donor is no longer bound by the acts of the donee. To ensure this, the donor must give written notice of the termination or the Power of Attorney may be terminated by "constructive notice" such as by lapse of time. If notice is not given, the donor is liable to anyone dealing with the donor through the donee on the assumption that the Power of Attorney still exists. In some states, a donee who acts under a terminated Power of Attorney may be liable to the donor for damages, even if the donee did not know the power was no longer valid. In some states, for example , a donee is not liable if he or she did not know or, with reasonable care, would not have known of the termination.
There are also state laws which define the rights and obligations of third parties who deal with a donee whose authority has been revoked. In some states, for example, a transaction is binding:
1) if a third party deals with a donee whose authority has been revoked and if the third party does not know of the termination, and
2) both the donee and the thirty part acted in good faith. Please be sure to read the current legislation for your jurisdiction.
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