is the POA registered?
2) please note that registration of POA for sale of property is mandatory
3) power of attorney holder ie X will execute sale deed
Person holding General Power of Attorney Can execute Sale Deed
I am close in finalizing a property deal with the person (X), who has been granted Power of Attorney by his father (Y). After executing the Sale Agreement with X, whether X will execute sale deed or Y ?
Asked 8 years ago in Property Law
Religion: Hindu
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6 Answers
POA has been registered in sub-registrar's office with a clause that 'to enter into sale agreement with any person or authority and sign all relevant documents and receive advance money from the purchaser' . ' and my attorney is also empowered to sell, relinquish, gift, mortgage, lease, and transfer my above mentioned land to any person in whole or part and appear before sub-registrar concern for registration of any document of sale deed and record statement on my behalf and receive sale consideration and attest the mutation of said land in any manner' Do the above statement in GPA entitles the 'X' to sell the property to me? can i pay him advance as well as whole sale consideration amount to his name or should i just pay advance to him and rest amount to 'Y'? further, is there any validity period of GPA? if yes, how to ascertain that GPA is still valid? it was signed in 2010.
Asked 8 years ago
1) the above clause in POA authorises X to sell the property to you
2) you can pay the sales consideration to X as POA authorises X to receive sale consideration
3) POA continues until it is revoked by the principal ie Y
a) yes the GPA entitles X to sell property to you.
b) You can pay him money in advance or in full as he has been authorized to take money.
c) the validity of GPA is till the principal dies or till it has been revoked or till the object of the GPA is completed.
Regards
Hello,
1) If the Power f Attorney is registered at he Sub Registrar's office it is absolutely valid for all intents and you are dealing with someone who is legally competent to convey the title to you in that capacity. So have no hesitation in going ahead with the deal.
2) The advance as well as the entire amount of consideration can be given to X as he represents Y in entirety and all acts done by him are treated as done by Y and stand ratified as if Y himself did them.The GPA is correctly worded and there is no concern that should stop you from proceeding with the puchase.
3) The validity of the POA lasts until Y is alive or until he revokes the POA by documenting a Revocation of POA and communicates it to the POA holder and make the same public.
I am close in finalizing a property deal with the person (X), who has been granted Power of Attorney by his father (Y).
After executing the Sale Agreement with X, whether X will execute sale deed or Y ?
If the power of attorney deed is a registered document and the principal is having marketable title to sell the property, then the registered sale deed executed by the power of attorney deed in favor of the buyer shall be valid, provided the life certificate of the principal is produced before the registrar as per rules.
A registered GPA deed will be valid until the same is cancelled by a registered cancellation deed signed jointly by both the principal and the GPA holder.
The recitals of the power deed appears to be valid and proper for the power holder to execute the registered sale deed and receive the sale consideration amount on behalf of the principal.
To confirm if the principal is alive or not, a life certificate duly certified by a government medical practitioner is required to be submitted by the power holder.