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Jay   23 August 2017

Registration of power of attorney

Hi,

I have applied for a Home Loan in SBI for the recently purchased property. The legal team of SBI has come up with issue saying the Power Of Attorney is not registered.

The property I am buying is re-sale property. This property was purchased by Mr. X from builder through Special Power Of Attorney to his daughter in year 2011-12. This property was re-purchased by Mr. Y & was sold by Mr. X through General Power Of Attorney to his daughter in the year 2014-15. Now I am purchasing this property from Mr. Y. No home loan was involved in the previous transactions & was done through full cheque. 

Now I have already done with agreement of this property from Mr. Y & have paid downpayment & rest of the amount was to be paid through home loan. 

The legal team of SBI is not reachable for last 5 days & the answer is still awaited whether this loan can be done or no. I wanted to ask all you legal advisers, Am I in the trouble of purchasing a property which was sold to Mr. Y using non registered PoA?  Since the PoA was done by first owner & I won't be able to track him down, how can I proceed with this situation.

Thank You,
Jaydeep Choudhari



Learning

 2 Replies

Nitish Banka (lawyer)     23 August 2017

For purchasing property you need to do sale deed for a valid title transfer coz as per suraj lamp judgement. You may read following article for more clarification

https://lexspeak.in/2016/10/all-about-general-power-of-attorney/

 

Advocate 

Nitish Banka

Lexspeak

Jay   23 August 2017

Hello Nitish,

Thanks for your reply. 

The property I am buying from owner directly from himself. Here the question is of the previous sale which was done by first Owner of the property. In this case do I have to find a first owner & get the PoA registred? And what if I can't find the first owner? 


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