Maryland Code, ESTATES AND TRUSTS 17-112
Terms Used In Maryland Code, ESTATES AND TRUSTS 17-112
- 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
(1) The principal dies;
(2) The principal becomes incapacitated, if the power of attorney is not durable;
(3) The principal revokes the power of attorney;
(4) The power of attorney provides that it terminates;
(5) The purpose of the power of attorney is accomplished; or
(6) The principal revokes the agent’s authority or the agent dies, becomes incapacitated, or resigns, and the power of attorney does not provide for another agent to act under the power of attorney.
(b) An agent’s authority terminates when:
(1) The principal revokes the authority;
(2) The agent dies, becomes incapacitated, or resigns;
(3) An action is filed for the dissolution or annulment of the agent’s marriage to the principal or their legal separation, unless the power of attorney otherwise provides; or
(4) The power of attorney terminates.
(c) Unless the power of attorney otherwise provides, an agent’s authority is exercisable until the authority terminates under subsection (b) of this section, even if there has been a lapse of time since the execution of the power of attorney.