Hello,
Yes the same will be sold on the basis of POA and the property can be registered in his name on the basis of the POA.
Regards
We purchased an Apartment in Vikas Puri, Delhi on POA. Now we want to sell the same property on POA. My question is whether the buyer can pay Stamp Duty and get the documents Registered in their name?
Hello,
Yes the same will be sold on the basis of POA and the property can be registered in his name on the basis of the POA.
Regards
Yes if the POA id given to buyer to register and execute a sale.deed on favour of himself he can register a sale deed and can sign as both as POA of seller and buyer .
Hello,
1) Yes, it can be done. In fact the stamp duty has to remitted by the purchaser.
2) All you need to ensure is that the PoA is a registered document and conveys the said authority to transfer.
Dear Sir, you may very well transfer the property on the basis of POA and the stamp duty shall be paid by the buyer only if both of you agree to do so in the agreement to sell.
1. It is the buyer's responsibility to pay the Stamp Duty and Registration charges to conclude the deal.
2. As a seller, you have to provide a copy of the document of deed of sale through which you bought the property, Katha Certificate and latest tax paid receipt. Also, you have to provide a POA in the name of an agent, who acts on your behalf and represents you in the Sub-registrar's Office, which is counter signed by an official of the Indian Embassy/Consulate abroad and the same has to be adjudicated in India in the jurisdictional District Registrar's Office.
1. If your title deed is valid and title is clear then you can sell the property to anyone you choose.
2. While selling you can appoint your near one as POA holder to sell the property.
3. Such POA needs to be registered .
4. Once the POA is registered in proper form the POA holder can sell the property and deliver the consideration money to you.
Buying property through General Power of Attorney or GPA
The Honorable court has held that when someone transfers any immovable property through GPA, it does not convey any right or title or create any interest in respect of such immovable property in favor of such person as only a deed of conveyance/sale deed which is duly stamped under the provisions of the Stamp Act applicable to the state in which such property is situated, as well as registered under the provisions of the Registration Act, does so.
Validity and Scope of General Power of Attorney
A lot of real estate is being bought through GPA; however, as a power of attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property, it still serves several purposes for buyers and sellers, particularly where registration of sale deed is not possible due to some legal issues.
The legal definition of the GPA is that it is a mere agency whereby the grantor authorizes the grantee to do certain acts specified therein; this he does on behalf of grantor, which when executed will be binding on the grantor as if done by him. Interestingly, GPA is revocable or can even be terminated at any time unless made irrevocable in a manner known to law.
GPA is Not Irrevocable
The law is that even if the parties have determined that the GPA is irrevocable it won’t have the effect of transferring title to the grantee. Thus, in totality GPA does not convey ownership of the buyer; however, a GPA holder may execute a deed of conveyance in exercise of the power granted under the power of attorney and convey title on behalf of the grantor.
Taking the judgment from the Supreme of India into consideration it’s a settled law now that immovable property can be legally and lawfully transferred or conveyed only by a registered deed of conveyance and not through GPA. Thus, as GPA does not conclude complete transaction, the Supreme Court parties should consider registering the deed of conveyance.
The Supreme Court in the case had however, observed that GPA transactions may also be used to obtain specific performance or to defend possession under section 53A of Transfer of Property Act, 1882.
You must have registered sale deed in your name to confer clear and marketable title to the property
2) sale has to be by sale deed and not POA
3) carry out mutation of property in your name and then sell the property
Purchase by POA does not confer a valid title on you
Your title is not clear and marketable
If your seller is reachable then he can enter into sale deed with your buyer directly with you as confirming party
When you say that you purchased the property onPOA do you mean to say that there no sale deed conferring the title upon you?
Any subsequent transfer through sale, can be only done under a sale deed. You can be represented through your POA holder in concluding this sale.
The transfer of ownership of the property cannot be done until and unless you have a registered sale deed in your name as no title can be conferred by way of power of attorney in light of the recent judgement of Supreme Court in Suraj lamps case.
transfer of right through general power of attorney does not confer any title upon the purchaser by way of such instruments.
POA is valid for transaction of sale/purchase of property in blood relations as usually in other than blood relation one has to to pay stamp duty and registration charges as per the value of the property.
POA holder cannot make another POA. So you need to sell the property through Sale deed and this can be done only if the POA you have is specific POA with selling rights mentioned.
As per new update from SC sale deed will not be performed against POA. For further details one can get in contact with registrar who is going to get registered the property.
Or one can make Tripartite agreement of sale deed
1. Sale is possible only through a registered sale deed. It cannot be through a POA.
2. GPA can be executed to only authorise the execution of the sale deed. It cannot substitute the sale deed itself.
The POA is not a title document, hence you better confirm if your POA is valid or not.
As per law a POA agent cannot execute a registered POA deed to another person, hence the title itself is under cloud, you may clarify this and then proceed.
In general the buyer only has to pay the stamp duty for the purchase of property
1. Your POA holder shall have to register the sale deed in favour of the buyer.
2. It is customary that the buyer pays the stamp duty and registration fee while getting the sale deed regfistered in his favour.