Yes, if the POA given in 2004 was valid and surviving in 2005, i.e., wasn't revoked, this could have been done.
In case a principal gives special & specific POA to an agent in 2004, can he/she sign sale deed in 2005?
Yes, if the POA given in 2004 was valid and surviving in 2005, i.e., wasn't revoked, this could have been done.
The POA holder cna execute the functions as mentioned in the POA at any point of time during the susbsitence of the POA.
In other words if the POA is not cancelled by the Principal , it gives power to the attorney to execute and register a sale deed and the POA was a registered one then the POA holder can sign the sale deed and present for registration.
Hi,
The POA will be valid till the date of revocation or should contain a clause & condition of its validity.
The sale deed signed on pretext of the Power of Attorney will be a genuine sale deed and may be enforced.
If the power of attorney was not revoked before the execution of sale deed, then the POA can sign in 2005 also
even if power of attorney is given by principal to agent there is no bar for principal executing sale deed in favour of purchaser in 2005
In case a principal & agent both can legally sign what is the use of POA? I believe unless POA is revoked by principal, principal can not sign any property deal.
1. The executor of a POA for performing a specific act, can himself sign for performing the said act despite his having a POA holder for performing the said act.
2. So, in the instant case, the Principal is with in his right to sign the deed in the year 2005 under the given circumstances.
No. There is no bar on the part of the executor of the POA to execute a sale deed for which he has already executed a POA in favour of someone else.
I got your question Sir and as advised earlier there is no bar for the principle to sign a document after executing a POA.
POA just means that you can sign on his behalf when he is not present for any reason, but if he is present he is well authorized to sign the document.
Regards
Dear Client,
Even after executing POA, the principal is still competent and therefore the decision rests entirely in the hands of that person.
POA is revoked by principal, principal can not sign any property deal - POA executed to work on behalf of principal, which not mean incapacitation of Principal.
POA is executed to enable agent to sign on his behalf . however it does not require POA revocation for principal to execute sale deed
Hi
The nomenclature viz., "Special & Specific POA" itself gives your answer.
That means, they are given to perform a specific function / act / activity on behalf of the Principal.
In case on hand, if the terms of POA given in 2004 contains a time stipulation, YES it can be used in 2005 also.
If the POA is in subsistence, the principal need not discharge any formality, including affixing signatures etc.
The use of POA is to transfer powers to other person, in your absence. It is not right that unless POA revoked principal can not sign on sale deed.
Hello sir , if the POA is in the favour of agent , he can perform duties to the extent and time , mentioned the power of attorney
The purpose of giving power of attorney is meant for executing the deal in absence of the principal . If principal is available to sign in the necessity of power of attorney is nonexistent and it should be revoked at any time so it is always better to revoke the power of attorney in case the principal wants to sign.
A special power of attorney is one by which a person is appointed by the principal to do some specified act or acts. In this type of power of attorney, an agent conferred with a power to do specific act in a single or specified transactions in the name of the principal.
A general power of attorney is one by which an instrument is executed by the principal authorising the agent to do certain acts in general on his behalf. The word ‘General’ here means that the power must be general regarding the subject matter and not general with regard to powers in respect of a subject matter. If the subject matter is not general but restricted to something either specific or specifically mentioned by the principal while drafting an instrument then it will not constitute a general power of attorney. It is otherwise called as limited power of attorney.
A general power of attorney remains in force unless expressly revoked or determined by the death of either of the party. A special power of attorney will be in force until the specified act is not completed. Duration of the power will depend upon the type of the attorney or there may be a fixed period of power granted by the principal which must be included in the deed.
if an agent is authorized to manage your financial affairs and signs a contract to purchase something on your behalf, you will ordinarily have to pay for it, like it or not. It is obviously important to choose a trustworthy agent; if no trustworthy candidate is available, a power of attorney should not serve its purpose.
In case a principal & agent both can legally sign what is the use of POA? I believe unless POA is revoked by principal, principal can not sign any property deal.
Your understanding is right.
A power of attorney is very essential legal document which can be admitted as a evidence in the court of law whenever there is any breach of trust by the attorney holder.
The general rule of power of attorney is that it should be strictly construed. Unless an express power is conferred on an agent to enter into contracts of guarantees on behalf of his principal or to execute or negotiate, negotiable instruments for his principal jointly with others. An agent cannot by his acts bind the principal to a larger extent than he is empowered to do under the power of attorney
The attorney holder must also act towards the donor with the utmost good faith and tell the donor the nature and extent of any interest which may conflict with his or her duty. An attorney may pass on his or her powers and duties to another person but only if authorised to do so by the power of attorney