Legal Definitions - Revocation

Revocation refers to the act of officially canceling, withdrawing, or annulling something that was previously stated, agreed upon, or established, making it legally ineffective.

This term applies in various legal contexts, including contracts, wills, and trusts:

• In the context of Contracts (Offers): When one party makes an offer to another, they generally have the right to withdraw or cancel that offer before it has been accepted. This withdrawal is a revocation.

  Example 1: A real estate agent sends an email to a potential buyer, offering a specific house for $500,000. Before the buyer has a chance to reply or accept, the seller receives a higher offer from another party. The real estate agent immediately sends a follow-up email to the first potential buyer stating that the previous offer is no longer available.

  Explanation 1: The real estate agent's action of communicating that the offer is no longer valid constitutes a revocation. The seller withdrew their offer before the buyer could accept it, preventing a contract from being formed with the first buyer.

• In the context of Wills: A person who has created a will (the testator) can later cancel or change it, making the previous will or parts of it legally void.

  Example 2: Ms. Chen drafted a will five years ago, leaving specific heirlooms to her niece. Recently, her relationship with her niece changed, and she decided to leave those items to her nephew instead. She consults her attorney and executes a new will that explicitly states it supersedes all prior wills and details the new distribution of her assets.

  Explanation 2: By creating a new will that specifically replaces the old one, Ms. Chen has performed a revocation of her previous will. The earlier document is no longer legally binding regarding the distribution of her estate.

• In the context of Trusts: For certain types of trusts, particularly "revocable trusts," the person who created the trust (the settlor) retains the power to terminate or alter the trust during their lifetime.

  Example 3: Mr. Davies established a revocable living trust to manage his investments and property. Several years later, he decided to move to another country and wanted to simplify his financial arrangements. He instructed his lawyer to formally dissolve the trust, transferring all the assets back into his personal ownership.

  Explanation 3: Mr. Davies' decision to dissolve his revocable living trust is an act of revocation. Because the trust was designed to be revocable, he had the legal right as the settlor to terminate it and regain direct control of the assets.