LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Abdul Rahim   24 October 2024

Giving joint power of attorney to one person

Respected Seniors,

The fact of the case:
Multiple Owners of a single property have entered into a Registered Joint Development of the concerned Property with a Partnership Firm M/s PQR which had 2 equal partners, Mr. A & B.

The same Owners of the Property have  given a Registered Power of Attorney to Mr. A & B jointly, here being Partners of the Same Development Firm, to represent the Owners in various Departments.

Further Mr. B wants willingly to retire from the Firm, M/S PQR and a New Partner Mr. X, needs to be admitted in the Firm to continue the Development Project.

How can the Power of Attorney be modified so that the terms written is applicable to Mr. A (continuing partner) & Mr. X (New Partner) jointly?

What legal options do the existing Partner (Mr. A) has since the Owners does not want to cancel the Old Agreement and Make a New Fresh Agreement with modified Partnership Firm?

 

Summary:

Owners

Joint Development Agreement Holder - M/s PQR (Partnership Firm)

Partners in M/s PQR - Mr. A & Mr. B

Power of Attorney given to Mr. A & Mr . B 



Learning

 3 Replies

T. Kalaiselvan, Advocate (Advocate)     25 October 2024

general power of attorney (POA) executed in favor of multiple agents can remain valid even if one of the agents is replaced by a new agent, depending on how the POA was executed:

Joint execution

If the POA was executed jointly, one principal cannot revoke the agent without the consent of the other principals.

Several execution

If the POA was executed severally, one principal can revoke the agent without the consent of the other principals. 

 

1 Like

Abdul Rahim   28 October 2024

Originally posted by : T. Kalaiselvan, Advocate
general power of attorney (POA) executed in favor of multiple agents can remain valid even if one of the agents is replaced by a new agent, depending on how the POA was executed:
Joint execution
If the POA was executed jointly, one principal cannot revoke the agent without the consent of the other principals.
Several execution
If the POA was executed severally, one principal can revoke the agent without the consent of the other principals. 
 

The PoA was executed jointly in one deed mentioning The Owners, Developers & the Owners giving Joint POA to Mr. A & Mr. B ( partners of the Developers Firm)..

Can Mr. B retire and give POA to Mr. A or Owners consent is too needed?

T. Kalaiselvan, Advocate (Advocate)     31 October 2024

Even if B retires A can continue with the POA deed and there is no necessity to obtain the consent of the owners 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register