Conditional POA is valid or not
Sir ji
Mr A took loan from Mr B and mortgaged his Plot to Mr B but mortgage deed was not registered
But after the mortgage period is over, Mr A failed to repay loan to Mr B
Hence Mr A agreed to make “Agreement to Sale” in favour of Mr B and requested to Mr B to wait for further 06 months, to which Mr B Agreed
that if Mr A cannot repay loan in further 06 Months then the Plot will be
of Mr B but if Mr A pays the loan amount then Mr B will cancel the
“Agreement to Sale”
Mr B Agreed to above but Mr B says that again after 06 Months he
does not want to undergo all these exercises if Mr A fails to pay loan
Therefore Mr B asked that Mr A must immediately give him POA to
register the said Plot in the case if Me A fails to pay loan amount in
06 Months, to which Mr. A agreed.
Query
Should Mr A has to make separate MOU with Mr B containing above
condition of 06 Months and then POA to register the Agreements to
Sale
OR
Can Mr. A puts these words in POA that “in the case If I (Mr. A)
cannot pay loan amount of “X” to Mr B then ,,,,," as explained below :-
AND WHEREAS,…. I appoint, nominate and constitute Mr. B having his
r/address at ____________. as my true and lawful attorney to do
comprehensively the following acts, deeds, things and matters pertaining
to the said Plot in the case If I (Mr. A) cannot repay loan amount of “X”
to Mr B on or before [deleted], for me and on my behalf, that is to say:-
to register “Agreements to Sale” ……………… executed by me ……
to present, lodge ………………...
to appear before any court …………..
Please guide
HARIOM
Asked 6 years ago in Property Law
Religion: Hindu
