How to Revoke Durable Financial Power of Attorney in Ohio

By Anna Assad

If you've given another person the authority to handle financial transactions for you on a power of attorney, you can revoke her authority. In Ohio, a durable financial power of attorney remains effective even if you're incapacitated. You need to move quickly if you want to revoke the power of attorney, especially if you're concerned your agent isn't acting in your best interests.

If you've given another person the authority to handle financial transactions for you on a power of attorney, you can revoke her authority. In Ohio, a durable financial power of attorney remains effective even if you're incapacitated. You need to move quickly if you want to revoke the power of attorney, especially if you're concerned your agent isn't acting in your best interests.

Methods

You can contact your agent by phone and revoke her authority orally first. Placing the revocation in writing and sending the document to her by mail with a return receipt gives you proof the agent knows about the revocation. You may draft the revocation yourself or use a form from an office supply store for use in Ohio. All revocations must identify the power of attorney itself -- such as by date executed and the parties involved -- and state the revocation of the agent's authority. While you don't have to have your signature notarized, doing so will eliminate any doubt about your signature's validity.

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Third Parties

You must send a copy of the revocation to any third party, such as a bank, you filed the power of attorney with. You may send a copy of the revocation by mail to any third parties with the power of attorney on file, but you may need to visit the locations personally if you need the revocation recognized immediately. If your agent uses her authority after you're revoked it, but with a third party who didn't receive any notice of the revocation, the third party isn't liable to you for any resulting losses.

Agent Liability

If you don't notify your agent when you revoke her authority, she's not liable to you for any damages arising from actions on your behalf as long as her actions were in good faith and honest. Any actions she took in good faith, without knowledge of your revocation, are binding. For example, if she signed loan documents for you, you're bound to the loan agreement.

Considerations

If you sold, bought or mortgaged real estate in an Ohio county, your power of attorney was filed in that county's land records at the same time as the documents from the real estate transaction. You must file your revocation in the land records of each Ohio county in which you used the power of attorney for real estate. Ohio laws recognize the revocation of a power of attorney in the land records only if the revocation is also filed in the same land records.

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References

Related articles

Can a Person Give or Turn Over Her Power of Attorney to Someone Else?

Although a power of attorney involves two persons, it is not a contract and can be unilaterally revoked. The person making the document, termed the principal, uses the power of attorney to name an agent to act for her. A competent principal is free to revoke that authority at any time and confer it on another agent. The person named as agent can also decline to serve but cannot give or transfer her authority under the power of attorney to another.

Does a Bank Have to Have a Written Letter of Power of Attorney to Access One's Account?

A financial power of attorney gives someone else the authority to act in your place, usually including the authority to access your bank account. Bank policies about powers of attorney differ significantly from one bank to another, and state laws also vary. Generally, a bank will require your agent to provide a copy of the power of attorney.

How to Revoke a Power of Attorney in California

A power of attorney allows one person, the attorney-in-fact, to perform actions for another person, the principal. The attorney-in-fact can do whatever the power of attorney document specifies. You can end these powers by revoking the power of attorney, but you must send notice of the revocation of powers to each place that had the power of attorney on file, such as your bank or your attorney's office. Neither the attorney-in-fact nor a third party can be held liable in court for their actions if they weren't notified of the revocation under California law.

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