Irrevocable power of attroney.

Querist : Anonymous (Querist) 05 October 2011 This query is : Resolved
Hello,
My father is not keeping in good health so he gave me a Power of Attorney regarding the use and maintenance of his properties without any considerations .
While going thorough the POA my friend suggested to me that there was a mistake made by the Deed Writer in the POA. He states that at the end of the POA it mentions that it is an Irrevocable POA and such POA cant be Irrevocable.
Is he right and if so what remedies do i have.

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prabhakar singh (Expert) 05 October 2011
If it is irrevocable what harm is caused to you as his son?what your friend is by profession??why is he sweating if POA in your favor is irrevocable.???

When a POA is executed as irrevocable in favor of third persons,sub registry insists it permanent alienation and generally demands
duty as payable on a sale deed.

Sailesh Kumar Shah (Expert) 05 October 2011
He would right only when your intention would be bad.

Querist : Anonymous (Querist) 05 October 2011
The point isonly one-
Is it a legal POA and
Will i need to pay some stamp duty or gift tax .

Sailesh Kumar Shah (Expert) 05 October 2011
1.POA is Vaild
2.Nothing to pay,stamp duty was already paid at the time of execution.

s.subramanian (Expert) 06 October 2011
Yes. I agree with Mr.Shailesh. Such a POA is valid and recognised by the Indian Contract Act as an agency coupled with interest.

Raj Kumar Makkad (Expert) 06 October 2011
I do agree with Subramanian.

ajay sethi (Expert) 06 October 2011
agree that irrevocable power of attorney is valid and no further stamp duty is to be paid

kuldeep kumar (Expert) 06 October 2011
agree with shah limit ur intentions n live vedic life

R.Ramachandran (Expert) 06 October 2011
The POA granted to you by your father for use and maintenance of his properties is valid.

Your friend is also absolutely correct that merely by saying that the POA is irrevocable, it does not become irrevocable, especially when there is no consideration and no agency coupled with interest has been created.

The POA will come to an end the moment the lift of your father comes to an end. After the life time of your father the property will go to all the legal heirs, unless he disposes of the property during his life time.

The POA in its present form does not require any additional stamp duty.

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