Dear All --
I am new to this forum. I was hoping to get some pointers from you for a joint venture that we are currently going through. I live in the US and my father lives in India. We own a flat in Chennai which we along with 3 other owners are going to enter into a joint venture with a reputed builder. My father met with an accident last year and is currently out of Chennai for 1 year and is living with his sister. His physical and mental health has been going down and therefore will not be able to come to Chennai to execute the deal. He has made clear in years before that his property comes to me (only child) after his days and therefore I did not push him to transfer the house in my name. We decided that I would get a General Power of Attorney which has been worded such that I have exclusive powers to handle the joint venture whether it be giving power of attorney to the builder or anyone else to complete the joint venture agreement. I got the General Power of Attorney registerd with the Sub-Registrar's office in Kanyakumari district, where my father currently resides. I was told that the registration has to be done only in the State where the property is situated. Now, I hear different thoughts saying that this GPA will not be sufficient for me to execute the joint venture with other owners and that my father will be required. Please let me know what are the actual rules on how this registered general power of attorney can be used. What is the point of holding a GPA if I cannot use it for the purpose it is intended?
Thanks in advance!
