Property Power Of Attorney Sample India

A general power of attorney for property is a legal document that allows a person usually called the principal or the donor to nominate one or more persons called attorneys to act on their behalf.

Property power of attorney sample india.

Special power of attorney sample for property management in india by nri. Builder or developer will also ask for registered poa to give you possession of flat and get it registered in your name. The falling interest rates and the weakening rupee have made real estate purchases in india an attractive proposition for nri investors. Send your power of attorney to india as soon as the process is complete and the indian consulate has attested your power of attorney you can send it to india.

In india it is not quite uncommon in the real estate sector to use a general power of attorney for all kind of property matters and transactions i e. Nri power of attorney to sell property in india. Register power of attorney in india. Special power of attorney.

And all acts deeds and things done my said attorney shall be binding on me in all respects in witness whereof i have signed this gpa in the presence of the following witnesses. Buying selling mortgaging leasing etc. This power of attorney is also known as a letter of attorney. It specifies exactly what deeds or transactions the designated person can complete on your behalf.

A general power of attorney gives the attorney the authority if the principal chooses to manage the principal s properties including buying and selling real estate for the principal or. Print on plain a4 paper 2 witness sign your sign register in registrar office. The most significant thing to consider is choosing the right and reliable person while handing him over your general power of attorney. The power of attorney is to be executed on a non judicial stamp paper of the requisite value as per the stamp duty prevalent in the respective state rs.

Again be very careful and make sure to hand over a power of attorney to a trustworthy person. Generally to do all acts deeds and things for me in my name on my behalf in respect of my said property as my said attorney may deems it proper. A power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed. 100 in the state of maharashtra.

The person appointed referred to as an agent or attorney in fact and the person who appoints is known as the principal. While this may be a good time to find a suitable property and seal the deal the coronavirus pandemic will make it difficult for nris to travel to india to complete the transaction. Sharing rights with any of your family member or a friend by issuing a registered power of attorney is the legal and correct way of managing the property bank loans stocks and other assets located in india. Sample special power of attorney nri property in india.