What is General power of attorney for property?
You can give the General Power of Attorney (POA) with respect to all your property matters such as selling, buying, renting, collecting rent, payment of taxes, repair, conducting cases, etc. A General power means all inclusive powers and you shall be answerable for any acts of the Attorney under these powers.
Can property be sold through general 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.
What is difference between durable and general power of attorney?
A general power of attorney ends the moment you become incapacitated. A durable power of attorney stays effective until the principle dies or until they act to revoke the power they’ve granted to their agent.
Does general power of attorney need to be registered?
Registration: In many cases, a general or specific power of attorney need not be registered. The question of registration arises only if a power is given for the sale of immovable properties. However, the Supreme court has recently ruled that a power of attorney given to sell immovable properties should be registered.
Is it necessary to register general power of attorney?
It is not necessary to register the power of attorney deed unless it involves transfer of property rights/title etc. Both the parties to the power of attorney deed must fully understand what their rights and obligations are under the deed and should act accordingly.
What is a general power of attorney for property?
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.
Is it legal to sell property through power of attorney?
While stating that property transactions done through general power of attorney (GPA) had no legal sanctity, the Supreme Court (SC) ruled that only registered sale deeds provide any legal holding to such transactions. Mentioned below is all about a POA, how sales through this instrument took place and why these are illegal.
Is a power of attorney an instrument of transfer?
“A PoA is not an instrument of transfer in regard to any right, title or interest in an immovable property,” a three-judge bench, headed by justice RV Raveendran, said, adding that property can legally be transferred only through a registered sale deed.
What is the Supreme Court’s ruling on general power of attorney?
Subsequently, the country’s top court was forced to take cognisance of the matter and eventually pass a landmark verdict in 2011. While stating that property transactions done through general power of attorney (GPA) had no legal sanctity, the Supreme Court (SC) ruled that only registered sale deeds provide any legal holding to such transactions.