Use of power of attorney for sale of a flat
Saiprasad Jammulapati
(Querist) 28 November 2011
This query is : Resolved
Dear Sir, I intend to purchase a flat in Navi Mumbai. The owner is a gentleman based out of Bahrain and is unable to come over. He intends to execute a POA favoring his brother to attend the registration formalities and also sale deed execution on his behalf. I had the following queries -
1. Is this the right way?
2. What are things that I should take care if I adopt this route?
3. Will there be any concerns when I intend to sell this flat?
4. I intend to take a home loan, will my Bank have any objections to it?
5. Will the owner's brother stake a claim on the flat anyhow?
6. Will the owner's wife or kids stake a claim on the flat anyhow?
7. What type of POA should I be preparing for this? Lemme know about the key conditions that I should not miss.
Best regards & thanks in advance for your kind help.
M.Sheik Mohammed Ali
(Expert) 28 November 2011
1. yes,
2. you can get all the doucments
4. after registration you do as your wish's
Saiprasad Jammulapati
(Querist) 28 November 2011
Thanks Mr. Ali for your kind reply. I will await for the responses on the other points as well from the experts. Thanks again.
Devajyoti Barman
(Expert) 28 November 2011
1. Yes but insist on execution by the owner only.
2.Get the POA properly notarised and counter signed by the Indian Consulate at Bahrain. Then get the said POA adjudicated in India.
3.Not much
4. Should not be any problem.
5.No if he does not have any share in it.
6.No if they do not have any share in it.
7. For this you have bear my professional charges.
Arun Kumar Bhagat
(Expert) 28 November 2011
Happy to see Mr. M.Sheik Mohammed Ali replying except universal sentence " I do agreed experts query reply."
I completely endorse the views expressed by Mr.Barman.
Sailesh Kumar Shah
(Expert) 28 November 2011
I would like to add in point no.2 of Shri Barman's views that get adjudicated at collector office. rest is agree.
M/s. Y-not legal services
(Expert) 28 November 2011
am also agree with mr.barman.,
mr.shah the owner not in india., so mr.barman is right., is collector office avialabele at bahrain?
and mr.arun sir, you gave a nice pinch to mr sheik., injection in banana// right?
Sailesh Kumar Shah
(Expert) 28 November 2011
Mr.Tom
please read section 18 of indian stamp act. you would find that i am rightly said.
Sailesh Kumar Shah
(Expert) 28 November 2011
18. Instruments other than bills and notes executed out of India -
(1) Every instrument chargeable with duty executed only out of 2*[India], and not being a bill of
exchange 3*** or promissory note, may be stamped within three months after it has been first
received in 2*[India].
(2) Where any such instrument cannot, with reference to the description of stamp prescribed
therefor, be duly stamped by a private person, it may be taken within the said period of three
months to the Collector, who shall stamp the same, in such manner as the 1*[State Government]
may by rule prescribe, with a stamp of such value as the person so taking such instrument may
require and pay for.
prabhakar singh
(Expert) 28 November 2011
Buying property through any legal power of attorney[POA]is NOT illegal.
But it must be duly and legally executed.You must have seen the owner so that you can verify the genuineness of the POA.The POA should preferably bear the photograph of donor and passport detail too and should be properly notarised and counter signed by the Indian Consulate at Bahrain. Then get the said POA adjudicated in India before District collector and then it should be presented by its donee for its [POA]registration.
Before you proceed to buy you must inquire that man in Bahrain is the only exclusive owner and none else.You must check all title deeds from origin to end till now to link the title intact and should also check registration records of 30 years past and revenue and municipal and society records of the property that your owners name does exist exclusively every where it should be.
These are must inquiries as when you shall seek loan your Banker shall check all these points before granting you the loan.
If you diligently got checked the ownership
of your vendor then no problem should arise.Pay all money in white by Bank transaction and not cash.
Engage a property lawyer and also the bank lawyer to check the title and sale deed completed.
Rajeev Kumar
(Expert) 28 November 2011
I would like to go with Prabhakar sir
Sailesh Kumar Shah
(Expert) 02 December 2011
Mr.Tom
I am still waiting for your reply.
Thanks
with Regards,
Saiprasad Jammulapati
(Querist) 02 December 2011
Thank you very much dear experts for all your advice.
I must profusely thank Prabhakar sir for his clear crisp and detailed communication of the things to do.
I have done almost all of the things that he has suggested and hope that things shape up well.
Once again my sincere thanks to all of you for your help. Unfortunately at this stage I may not employ your professional services since I have appointed a local lawyer but next time for sure I know where to come for good sound advice.
My sincere best wishes to all of you.
