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tapasyaa (asdf)     08 June 2010

Power of Attorney

Dear Friends,

How can I ensure that my father transfers all his rights on his property (duly registered in his name) to myself without registering the transfer of title of the property? We want to do this so that only I myself will have all rights towards taking any decision (sale/transfer etc.) for the property. Can this be achieved through Power of Attorney - in that case does my father also continue to hold the rights to the decisions regarding the property besides myself. Or can a "Gift Deed"/"Will" be a better method.

Thanks

 

 

 

 

 



Learning

 2 Replies

Waseem (Junior advocate)     09 June 2010

hi, tapasyaa.

first of all power of attorey will provide u with those rights which ur father want to give that may even include selling/ tranfer but thts completly technical as how the power of attorney is drafted.and even ur father has right in his lifetime to make changes to cancel the power of attorney if such power of attorney is revocable. so make sure wht ur r going to include in that power of attorney.

secondly in my opinion"Will" would be better then "gift deed" as it secure's ur rights on ur father's property after him and it is all now not necessary that it should be registered. again gift may a be an option but the u would be required to pay registration and stamp duty charges on it. so its upto to  u to decide. ya bt again gift also ensure u sole right once the "Gift deed" is registered. so u hv to decide which goes best for u.


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