Is property sale through power of attorney legal? In 2011, the Supreme Court ruled that property sale through power of attorney (PoA) is illegal and only registered sale deeds provide any legal holding to property transactions.
Can property be sold through power of attorney?
If the deed of power of attorney grants power to sell the property of the principal and to execute and register necessary documents in that regard, such a sale made by the agent will be valid, is binding on the principal, and will convey a proper title to the purchaser(s).
Can you give power of attorney to sell a house?
Power of attorney is a written document used to authorize some other person to act on behalf of the principal (the owner of the property). POA for property sale are used when the owner authorizes some other person to buy or sell the property.
Can I sell my mother’s house with power of attorney?
Depending on the type of authority given to you, you can sell a home. A power of attorney, or POA, is a legal document which can give the attorney-in-fact or agent broad authority to handle decisions for someone else, including selling real estate.
Can NRI selling property in India with Power of Attorney?
An NRI seller can authorize POA holder to accept payment on his behalf but cannot authorize payment to POA holder. Even if NRI seller authorizes POA holder to receive direct payment, the buyer should avoid such property transactions. … Each of the sellers should execute separate Power of Attorney.
How long a Power of Attorney is valid in India?
Durable PoA: A durable POA remains effective for a lifetime, unless it is explicitly cancelled. A specific clause can be inserted in the document, stating that the representative’s power would remain valid even if the principal becomes incapacitated.
What are the limitations of power of attorney?
What Are the Limitations of Power of Attorney?
- The POA cannot transfer the responsibility to another Agent at any time.
- The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over.
Can a power of attorney transfer property to themselves?
As a general rule, a power of attorney cannot transfer money, personal property, real estate or any other assets from the grantee to himself. Most, if not all, states have laws against this kind of self-dealing. It is generally governed as a fraudulent conveyance (that is, theft by fraud).
Is power of attorney transferable in India?
To summarise, the law holds that a power of attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property but any genuine transaction carried out through General Power of Attorney is considered valid under the law.
How do I adjudicate power of attorney in India?
One should carry the following documents for POA Adjudication.
- Original & Photocopy of POA (1 set of photocopy)
- Requisition Letter for Adjudication (Attached the format below)
- ID Proof (Aadhar or Passport)
- Stamp Duty through K2 challan.
Is power of attorney needed while buying property in India?
When buying your home, it is essential that you hire a reliable and trustworthy power of attorney who can help you with the purchase proceedings. The POA is often used by NRIs looking to buy property in India.