One of the power of attorney holder wo is also a share holder of a joint property sell and keeps all money to himself because it was agreed verbally. But latter can one share holder claim monetary share from the same?
Rasmiranjan Rautaray (Stock market trader) 26 September 2024
One of the power of attorney holder wo is also a share holder of a joint property sell and keeps all money to himself because it was agreed verbally. But latter can one share holder claim monetary share from the same?
kavksatyanarayana (subregistrar/supdt.(retired)) 26 September 2024
In those circumstances, you can request the Principal of the POA to revoke/cancel the POA. Then he cannot do anything except ask for his share.
T. Kalaiselvan, Advocate (Advocate) 26 September 2024
The cosharers are entitled to a share in the sale proceeds of the joint property.
Dr. J C Vashista (Advocate ) 27 September 2024
When the attorney was granted authority to sell a property and retain its proceeds, how the executant / grantor of PoA back-out after transaction under its (PoA) is complete ?
Rasmiranjan Rautaray (Stock market trader) 27 September 2024
Right Sir. But the property is a joint property with five other share holders. So can now one of the share holder claim 1/6th share from the proceeds of the sale?
T. Kalaiselvan, Advocate (Advocate) 27 September 2024
The sale proceeds are to be disbursed to all the shareholders, otherwise if there is any other condition recited in the POA deed in this regard, then the power agent shall comply with the conditions therein in this regard
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