Gpa executed outside of india without stamped in india and executed sale deed
venkat
(Querist) 20 March 2013
This query is : Resolved
Hi Sir,
My Question is in 1985,person X who is residing in California has given GPA to his uncle Mr.Y, who is staying in India ,AP.
This GPA has done by the Notary public in California and not Stamped in India.
in 1995 March 3 Mr.Y (GPA Holder) has sold the property to Mr.Z and registered sale deed in SRO Uppal. After that Mr.Z obtained all necessary permissions and constructed an apartment and Sold to the people. In 2007 Mr.Z sold his last Flat to one person and registered sale deed. Now this person want to sell the Flat to me.
When I have applied loan in one bank...the Lawyer says that "The GPA executed outside India should be stamped within 3 months at SRO, this was not happened and he said that he cannot give his opinion on this. All other banks are offered the loans except my bank..
My Question is If this the case how can the Sale deed executed in 1995?
It is already 18 years are completed, Now what to do?
is this a valid sale deed or not.
Please help me to come out from this situation
Thanks in advance
Regards
Venkat N
Advocate M.Bhadra
(Expert) 20 March 2013
The Economic Times----3.8.2008
Any power of attorney executed outside India needs authentication. It has to be executed in the presence of certain designated officers. So, any power of attorney executed outside India should be authenticated by a notary public of that country , the Indian consul, or by a representative of the Central Government. Such documents need to be stamped within three months from the date of receipt in India, to be payable at the district registrar's office.
ajay sethi
(Expert) 20 March 2013
dont purchase property if bank is not offering loan . no shortage of properties in india
venkat
(Querist) 20 March 2013
Thank you for the reply.only one bank is not offering the Loan.Out of 25 flats 22 flats are loan from various bankers.My question is
My Question is If this the case how can the Sale deed executed in 1995?
It is already 18 years are completed, Now what to do?
is this a valid sale deed or not.
ajay sethi
(Expert) 20 March 2013
if document is not validly stamped it is in admissible in evidence . no one must have bothered to cross check 18 years back whether document was properly stamped
venkat
(Querist) 20 March 2013
Thank you sir,
what is the meaning of admissible in evidence?
In order to get loan from the same bank,what need to do from my side?
Devajyoti Barman
(Expert) 20 March 2013
The title is though irregular but not invalid either. After so many years nothing could be done to dispute your tile .
You can go to some other Bank for loan.
venkat
(Querist) 20 March 2013
thank you for suggestions
V R SHROFF
(Expert) 20 March 2013
BETTER GO TO OTHER BANK, , INSTEAD OF WASTING TIME TO FIND OUT OR CORRECT LEGALITY OF POA.
It is true that within 3 months, foreign POA need be stamped and registered. in India
venkat
(Querist) 20 March 2013
Thank you Mr.Shroff
