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A successor agent steps in if the person you have designated as your agent is unwilling, unable, or unavailable to fulfill an agents duties.
What is the highest form of power of attorney?
The Durable Power of Attorney A Durable POA remains effective even if you become incapacitated. This type of POA ensures your agent, whether for financial or healthcare , can continue to act on your behalf if you are unable to do so.
What are the 4 types of agents?
The five types of agents include: general agent, special agent, subagent, agency coupled with an interest, and servant (or employee).
What is the meaning of successor agency?
As defined under ABX1 26, the Successor Agency is a newly created entity that is responsible for winding down the affairs of the redevelopment agency.
What does a successor agent mean?
A successor agent is a person named to serve as a backup agent if the first person named as agent cannot serve due to death, incapacity, resignation or refusal to act. If a named individual is unable or unwilling to serve as agent, the next person in line under the document becomes the agent.
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Related forms
LLC Notices, Resolutions and other Operations Forms Package - Oklahoma
A successor in interest is someone with an ownership interest in the property, even. though they may not be obliged to repay the loan. You may qualify as a successor in interest if an. ownership interest in the property was transferred to you in one of these ways: As a result of the death of a co-owner of the property.
What is the meaning of successor agent?
A successor agent is the person named to serve as a backup agent if the first person named as agent cannot serve due to death, incapacity, resignation or refusal to act.
Related links
64.2-1609. Coagents and successor agents
A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve.
Illinois Statutory Short Form Power Of Attorney for Property
It is prudent to name a successor agent to replace your agent if he/she resigns, becomes incompetent or dies. However, in this POA, coagent(s) are not allowed.
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