Power of attorney

Querist : Anonymous (Querist) 23 June 2010 This query is : Resolved
I reside in Mumbai & buying a flat in Chennai. As per agreement to sell, I am paying full consideration of the flat by 31st July, but the seller wants to do the registration of POA/property post 24th Oct due to long term capital gains consideration. Can I execute a unregistered POA in Mumbai (notarised) & will it be valid for doing the registration in Chennai since the property is in Chennai. Please enlighten me the legal issues..

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Guest (Expert) 23 June 2010
Registration of document is compulsory. At the time of registration of sale deed, the sub-registrar can demand to show the original POA document.

Adv.Aiyer VLV (Expert) 23 June 2010
This would mean that you are paying advance and not getting title inspite of paying full amount

please desist such transactions as it will prove problematic later.

capital gains can be their problem. losing capital will be yours

unregistered Power of Attorney will not be valid regarding immovable property. POA must be irrevocable with full consideration being mentioned will be conveyancing requiring stamp duty payment.

trying to do anything to help others for no reason will be risky. please consult advocate in person

G. ARAVINTHAN (Expert) 23 June 2010
For Sale purpose, registration is compulsory and mere notarized one is not sufficient for sale procedures

adv. rajeev ( rajoo ) (Expert) 24 June 2010
I agree with Proff.VLV

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