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Rohit (Manager)     14 April 2010

Need advice buying a flat with gift deed executed by POA

Dear Sir,

I am buying a flat and need advice if it can get into any issues. below are the details.

An apartment complex has been constructed by a builder by combining land from more than 20 owners. Since Mrs. X owned a piece of land, she was allocated a flat in the complex. Mrs. X has executed the gift deed of this flat to her husband Mr. Y, through her brother in law as POA (Mr. Y's brother). both POA and gift deeds are registered. Looks like X and Y have split now and this was part of settlement.

Since this is a newly constructed apartment, the flat has not been registered yet. The builder now recognizes Mr. Y as the owner of the apartment and will execute a tri-party ( Builder, Mr. Y, and me) agreement for sale. and subsequently sale deed/register the property in my name as first owner of the flat.

  Please advice if there could be any hassle buying such property.

 Many thanks.

 



Learning

 5 Replies

R.R. KRISHNAA (Legal Manager)     14 April 2010

I don't find any hassles in this. 

A V Vishal (Advocate)     14 April 2010

Check whether the POA is still live or any revocation of the same has taken place. Further the nature of the gift deed must be examined. As per your understanding the land belongs to X, so in such case how has she compensated has to be verified. Does she have any claim or rather can she claim in future needs to be examined. I suggest you hire a good lawyer and have the complete docs verified to avoid legal hassles in future.

bhagwat patil (Property due diligence 9422773303)     16 April 2010

check weather POA is still is inforce.

Rajesh (properitor)     18 April 2010

Pardon my ignorance....but if the POA is not registered and it is merely notorized...how does one find out if that POA is still in force? 

R. Jayakumar (ADVOCATE)     15 June 2010

PLEASE GET AN AFFIDAVIT FROM THE PRINCIPAL ,


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