Is it safe to buy property through general power of attorney?

No. Even if the GPA is registered with the sub-registrar’s office, the GPA holder is not authorised to sell the property on the owner’s behalf. Even the latest judgement by the Supreme Court of India categorically invalidates the sale of a property through GPA.

Is power of attorney needed while buying property in India?

When buying your home, it is essential that you hire a reliable and trustworthy power of attorney who can help you with the purchase proceedings. The POA is often used by NRIs looking to buy property in India.

What are the disadvantages of power of attorney?

What Are the Disadvantages of a Power of Attorney?

• A Power of Attorney Could Leave You Vulnerable to Abuse.
• If You Make Mistakes In Its Creation, Your Power Of Attorney Won’t Grant the Expected Authority.
• A Power Of Attorney Doesn’t Address What Happens to Assets After Your Death.

What is General power of attorney for property in India?

You can give the General Power of Attorney (POA) with respect to all your property matters such as selling, buying, renting, collecting rent, payment of taxes, repair, conducting cases, etc. A General power means all inclusive powers and you shall be answerable for any acts of the Attorney under these powers.

Can I sell property with power of attorney in India?

Is property sale through power of attorney legal? In 2011, the Supreme Court ruled that property sale through power of attorney (PoA) is illegal and only registered sale deeds provide any legal holding to property transactions.

How long is a power of attorney valid in India?

Durable PoA: A durable POA remains effective for a lifetime, unless it is explicitly cancelled. A specific clause can be inserted in the document, stating that the representative’s power would remain valid even if the principal becomes incapacitated.

What is the validity period of power of attorney in India?

These certificates are valid for 30 days. As per a recent order of the inspector general of registration, the new rules are applicable to all POAs registered from February 4. By law, POA is not valid once the principal dies.

Can power of attorney sell property in India?

A power of attorney is not a valid instrument to transfer property titles when buying or selling a property. However, due to the financial benefits, it provides to both the buyer and the seller, selling a property through a general power of attorney has become common practice in Indian cities.

Is power of attorney a good idea?

Putting in place a power of attorney can give you peace of mind that someone you trust is in charge of your affairs. If you’re aged 18 or older and have the mental ability to make financial, property and medical decisions for yourself, you can arrange for someone else to make these decisions for you in the future.

How long is a general power of attorney valid in India?

How long a power of attorney is valid in India?

Can NRI sell property through power of attorney?

“A Power of Attorney (POA) plays a significant role in the real estate dealings of the Non-Resident Indians (NRIs). As per the Registration Act, 1908, whenever an NRI sells or purchases a house property, both parties must be present physically while registering the transaction.

Why do you need a power of attorney in India?

In India, it is not quite uncommon in the real estate sector to use a general power of attorney for all kind of property matters and transactions i.e. buying, selling, mortgaging, leasing etc. The most significant thing to consider is choosing the right and reliable person while handing him over your general power of attorney.

Is buying property through power of attorney still popular in Delhi-NCR?

Buying property through General Power of Attorney is still popular in many parts of Delhi-NCR due to the purported benefits it provides. From a seller’s perspective, the GPA route allows them to sell a property even if they do not hold clear titles of the property.

Is it illegal to sell a house through power of attorney?

In 2011, the Supreme Court ruled that property sale through power of attorney (PoA) is illegal and only registered sale deeds provide any legal holding to property transactions. What is a power of attorney (PoA)? How property sales through GPA happened?

Is it safe to buy a property through GPA in India?

To avoid complications, many Non-Resident Indians (NRIs) confer their property rights to an agent via General Power of Attorney (GPA) for carrying out legal and business transactions on their behalf. But, is it safe to buy a property through GPA in India.