Minnesota Statutes 523.11 – Revocation of a Power
Subdivision 1.Manner.
An executed power of attorney may be revoked only by a written instrument of revocation signed by the principal and, in the case of a signature on behalf of the principal by another or a signature by a mark, acknowledged before a notary public. The conservator or guardian of the principal has the same power the principal would have if the principal were not incapacitated or incompetent to revoke, suspend, or terminate all or any part of the power of attorney.
Subd. 2.Effect; definition of actual notice of revocation.
Terms Used In Minnesota Statutes 523.11
- actual notice of revocation: means that a written instrument of revocation has been received by the party. See Minnesota Statutes 523.11
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Fraud: Intentional deception resulting in injury to another.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- power of attorney: means a validly executed power of attorney. See Minnesota Statutes 523.03
- principal: includes a guardian or conservator appointed for the principal at any time; and
(3) "power of attorney" means a validly executed power of attorney. See Minnesota Statutes 523.03
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Terms Used In Minnesota Statutes 523.11
- actual notice of revocation: means that a written instrument of revocation has been received by the party. See Minnesota Statutes 523.11
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Fraud: Intentional deception resulting in injury to another.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- power of attorney: means a validly executed power of attorney. See Minnesota Statutes 523.03
- principal: includes a guardian or conservator appointed for the principal at any time; and
(3) "power of attorney" means a validly executed power of attorney. See Minnesota Statutes 523.03
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Revocation of an executed power of attorney is not effective as to any party unless that party has actual notice of the revocation.
As used in this chapter, “actual notice of revocation” means that a written instrument of revocation has been received by the party. In real property transactions only, “actual notice of revocation” means that a written instrument of revocation has been received by the party, or that a written instrument of revocation containing the legal description of the real property has been recorded in the office of the county recorder or filed in the office of the registrar of titles. Recorded or filed revocation is actual notice of revocation of a power of attorney only as to any interest in real property described in the revocation and located in the county where it is recorded.
Subd. 3.Presumptions.
A written instrument of revocation that purports to be signed by the principal named in the power of attorney is presumed to be valid. Any party receiving the written instrument of revocation may rely on this presumption and is not liable for later refusing to accept the authority of the attorney-in-fact.
Subd. 4.Transferee affidavit of nonrevocation.
In the case of a conveyance of an interest in property, an affidavit signed by an initial transferee of the interest of the principal stating that the initial transferee had not received, at the time of the conveyance, a written instrument of revocation of the power of attorney, constitutes conclusive proof as to all subsequent transferees that no written instrument of revocation was received by the initial transferee, except as to a subsequent transferee who commits an intentional fraud.