Can take poa from nri to mortgage property?

Rashmi (Querist) 30 June 2013 This query is : Resolved
Dear Expert,

On of my clients query is,

He is going for buying a property in Pune, since he has some initial funding issue, so his brother who is an NRI stays in US has suggested him to mortgage one of his properties in India and raise funds from that. Question here is that the brother who stays in US can't come to India, can he sends any documents (may be POA) to his brother in India. Is it possible? If yes what other documents and paper work to be done by the NRI brother? Please help

Many thanks in advance.

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prabhakar singh (Expert) 30 June 2013
YES! NRI CAN EXECUTE A POA FOR PURPOSE IN U.S WOULD NEED TO GET IT AUTHENTICATED BY INDIAN EMBASSY IN U.S RECEIVING WHICH HERE HIS BROTHER WOULD PRESENT FOR REGISTRATION BEFORE THE SUB REGISTRAR IN WHOSE JURISDICTION PROPERTY REQUIRED TO BE MORTGAGED SITUATES.

Adv Archana Deshmukh (Expert) 30 June 2013
A properly executed POA which is duly attested from the Indian Consulate is sufficient.

Raj Kumar Makkad (Expert) 30 June 2013
Rightly advised by experts.

Rajendra K Goyal (Expert) 30 June 2013
Well advised by the experts, nothing more to add.

Rashmi (Querist) 30 June 2013
Thank a lot Experts.

prabhakar singh (Expert) 30 June 2013
Most welcome you are!

Advices seems a bit different,a glass to be handled with care.

R.K Nanda (Expert) 30 June 2013
nothing to add.

Raj Kumar Makkad (Expert) 30 June 2013
Most welcome from side.

Devajyoti Barman (Expert) 01 July 2013
yes do as advised above.
However such documents are of no value if these are not Adjudicated in India.

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