Amol Chavan (Consultant) 08 June 2011

Power of Attorney for purchase of Flat under Home Loan

Hello Team,

I am in the process of registering a flat on my name and have applied for a bank loan for the same.

Now I need go abroad on an urgent basis for long term, hence have following queries:

1. Can i give power of attorney to my brother for the bank loan? which means can he sign the bank documents for completion of construction milestone on my behalf?

2. What steps am i required to do? Please explain

Kindly guide.

Regards,

Amol

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2 Replies

Doveson (advocate) 08 June 2011

ask the bank if they are okay with that arrangement. if and only if they are willing can you go ahead with it. remaining everything can be done like dealing with the builder etc via the power of attorney.

Vivek (IT Consultant) 16 June 2011

Hi,

I would like to be clarified on the below issue with regard to the Power-of-Attorney:

I have gone abroad for work reasons. I have executed the POA in my wife's name from the notary, but did not get it registered. Is the Registration mandatory, as the registrar states that this have to be registered. The loan I'm taking from and construction of the property are in different cities.

Thanks