Hello,
The property if registered can not be sold through POA as per the recent direction of the SC.
You must go the Bangalore for a day and get the work done.
Regards
I want to sell my property which is underconstruction .The other Party(Buyer) is ready. But the Problem is i stay in Assam and the property is in Bangalore. Can i give Power of Attorney to the Buyer to register the flat in his/her name. Please guide me on this. The property has to be delivered by 2015 but still its not been completed yet that y i want to sell the property for emergency on loss
Hello,
The property if registered can not be sold through POA as per the recent direction of the SC.
You must go the Bangalore for a day and get the work done.
Regards
1. There is no bar for your idea of giving POA to the buyer, but the stamp duty will be very high, which is prerequisite for the registration of POA. Unregistered POA has no legal validity.
2. Hence it is better to give POA to one of your blood relatives, who can represent you in the Sub Registrar's Office to execute the Sale Deed in favour of the buyer The cost of stamp duty within blood relatives is less than RS. 1000/-.
Yes you can register a power of attorney in name of buyer the stamp duty shall be applicable as POA to non relative.
You can sell your property through giving General Power of Attorney to act on your behalf to sign on all the documents on your behalf in your absence. A General power of attorney needs to be registered to hold validity.
You can execute POA only in favour of family member
2) if you execute POA in favour of buyer it has to be stamped as conveyance
3) better go to Assam to execute registered sale deed
1. YES. You can give a registered POA to the buyer (preferably to a close confiderate friend /relative) for sale of property, again preferably after receiving appropriate money.
2. HOWEVER, legally it is more appropriate to take a few days holiday and be present yourself for signing agreement and collecting money.
This is my response to you:
1. A sale cannot be simply made via POA transfer from seller to the buyer;
2. The best option is to send your representative to make the sale;
3. Consult a local lawyer, discuss fully, draft the necessary documents and take legal steps.
You may have to enter into a tripartite agreement with the buyer and the builder for selling the property which has not been completed yet and not registered on your name except for the sle agreement.
Once a tripartite agreement is entered among the parties, rest of all other formalities may be taken care of as per the agreement conditions.