Power of Attorney

Querist : Anonymous (Querist) 07 February 2010 This query is : Resolved
Dear All,

I would like to seek your expert opinion that whether sales transaction of a land can be done through "Power Of Attorney" duly registered with Registrar ?

What are the advantages & dis-advantages ?

Thanks in advance

Regards

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Raj Kumar Makkad (Expert) 07 February 2010
It can be done. So far as advantage is concerned, there is no need to call the owner of such property for the purpose of registration and his GPA can perform this duty on his behalf and disadvantage is only in case GPA has been revoked and his agent has no knowledge of it or he is even after having the knowledge of this revokation is miusing it.

A V Vishal (Expert) 07 February 2010
There are manifold advantages for registering a POA for a law abiding citizen and neglible disadvantages.

Guest (Expert) 07 February 2010
agreed with mr makkad

Sachin Bhatia (Expert) 07 February 2010
Yes sales transaction of a land can be done through "Power Of Attorney" duly registered with Registrar.

Advantages: There are many reasons why you might want to appoint someone else to look after your affairs. For example, if you are going to be out of the country for a lengthy period of time, you might want someone to do your banking while you are gone or you may even want them to execute documents in connection with the purchase or sale of a property. If you are approaching old age, you may simply want to give a Power of Attorney to a person you trust so that he or she can manage your property or affairs for you.

Sachin Bhatia (Expert) 07 February 2010
Disadvantages: Avoid common mistakes and craft your power of attorney to meet your specific needs.

Too General
You will be at a disadvantage if the scope of his powers are too broad for your situation. Someone with unrestricted power of attorney can sell property, pay bills and dispose of personal property. Only grant him the power he needs for your specific situation.

When Does It Begin?
Have you specified when it goes into effect? Limit it to only activate when you are declared incapacitated by a doctor to avoid power of attorney abuse.

Too Much Time
A disadvantage might arise from not restricting the time period when someone may act on your behalf. Someone undergoing surgery will have different needs than an individual who is developing Alzheimer's.

Not Declared Early Enough
You must be considered competent at the time you grant someone power of attorney or else her ability to act may be challenged in court and declared invalid.

Co-Powers of Attorney

If you don't trust one person to manage your affairs, grant two people co-powers of attorney. If one tries to abuse his power over your estate, the other will invoke her own power to protect it.

Raj Kumar Makkad (Expert) 08 February 2010
I do agree with sachin.

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