Can I sell property with power of attorney in India?
The Supreme Court of India in 2011 announced that “a power of attorney is not an instrument of transfer concerning any right, title or interest in an immovable property”. … Because of this Supreme Court order, various states across India disallowed the registration of properties that were sold through a GPA.
Can a property be sold with power of attorney?
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.
How do I register a property with power of attorney?
- Proof of Identity of both principal person and agent and also the witness (Aadhaar Card, Voter ID card, Driving License, etc.)
- Address Proof of Parties.
- Electricity Bill OR Tax Receipt of the Property (if POA is related to some property).
- Property card.
- PAN CARD.
Is power of attorney valid without registration?
Registration: In many cases, a general or specific power of attorney need not be registered. … The Indian Registration Act does not make a power of attorney compulsorily registerable. However, the Supreme court has recently ruled that a power of attorney given to sell immovable properties should be registered.
What are the disadvantages of power of attorney?
What Are the Disadvantages of a Power of Attorney?
- A Power of Attorney Could Leave You Vulnerable to Abuse. …
- If You Make Mistakes In Its Creation, Your Power Of Attorney Won’t Grant the Expected Authority. …
- A Power Of Attorney Doesn’t Address What Happens to Assets After Your Death.
What can a power of attorney not do?
An agent cannot:
Change a principal’s will. Break their fiduciary duty to act in the principal’s best interest. Make decisions on behalf of the principal after their death.
Can I sell my mums house with Power of Attorney?
Answer: Those appointed under a Lasting Power of Attorney (LPA) can sell property on behalf the person who appointed them, provided there are no restrictions set out in the LPA. You can sell your mother’s house as you and your sister were both appointed to act jointly and severally.
What is Power of Attorney for property?
What is Power of Attorney of Property. Power of attorney (POA) of property is a legal document transferring the legal right to the attorney or agent to manage and access the principal’s property in the event the principal is unable to do so themselves.
What is transferred by a Power of Attorney?
A Power of Attorney is a legal document where 1 person grants the right to execute i.e. power to transact in matters regarding property, legal and judicial proceedings, banking, payment of tax, etc, to another person due to any of the reasons explained above earlier.
What happens after power of attorney is registered?
What happens next? Once your LPA has been registered by the OPG they’ll return the form to you (or to the attorney if they registered it). It will be stamped on every page and it’s only valid once this is done.
When should a power of attorney be registered?
It might be preferable to wait until the Lasting Power of Attorney is actually needed to be used. However in our opinion, it is often best to register the Lasting Power of Attorney as soon as possible so as to avoid delays, as it usually takes 3 months for a Lasting Power of Attorney to be registered.
How long is a power of attorney valid for?
First, the legal answer is however long you set it up to last. If you set a date for a power of attorney to lapse, then it will last until that date. If you create a general power of attorney and set no date for which it will expire, it will last until you die or become incapacitated.
Is agreement valid if not registered?
Sale Agreement even not registered is enforceable in Law, and shortage of stamp charges can be paid into with the courts order. Agreement is valid for three years from the date mentioned to execute. So file a suit to get the deed registered through court.