Is GPA duly attested by Indian consulate?
2) if so GPAholder can sell property in India on basis of said GPA
3) GPA has to be duly stamped
Hello There is a flat where Owner resides in US.So he made his Brother as GPA. Now can i buy this flat from this GPA Holder ? What are the risks that surrounds here? Will there be any Title issues due to this? Please let me know the checkpoints that needs to be done.
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Is GPA duly attested by Indian consulate?
2) if so GPAholder can sell property in India on basis of said GPA
3) GPA has to be duly stamped
1. registration of property can be done through GPA,
2. chech for the authenticity of GPA before moving ahead,
3. also check/verify the title/mutation, possession/pending litigation etc.
you can engage a local lawyer to do the needful
Well, since we are not seeing the title deeds it is not possible to comment on clear title of the property.
2. So your first job is to engage an advocate who can peruse the papers and decide on title of the property.
3. Considering that title of the property is clean and the GPA is validly registered and not revoked in the meantime then there is no legal hindrance to buy this property from the GPA holder.
See if in GPA right to sale transfer property and execute sale deed is given then you can purchase it.
See there is no risk as such GPA holder if is given power in the GPA can register property and can receive amount in lieu of same.
There wint be any title issue GPA is just agent of principal.
To make it risk free transaction ask notarized letter from original owner having no objection on sale or transfer of property vide GPA and GPA receiving amount in lieu of sale.
Hello,
SC has recently barred the sale through GPA and as such I would not advise you to purchase the said property.
Regards
1. IF the POA (GPA) is duly Stamp duty paid and Duly Registered with the local office of the Registrar of Sub-Assurances OR duly attested by the US embassy /consulate with stamp/seal signature and is of a latest date, THEN the POA holder can sell /transfer /gift /mortgage /donate /whatever ..... subject to the relevant clauses in the POA.
2. Subject to above, there is no legal issues for dealing with the sale property, in any way, whatsoever, PROVIDED:
a) Immediate possession
b) No claim by any legal heirs /govt. agencies /Banks
c) Original documents of the property are available
You can buy if the gpa authorise him to sell the flat. So check the authorisation part carefully before dealing with gpa holder.
Greetings!
Whether GPA holder has a power to convey the property and is it a registered GPA; if wo then u can purchase if ag all the GPA is unregiageresed and has no power to convey in such a case GPA holder has no right to convey the property and just stands as null and void!!
Hi, you can purchase the property. Provided plz verify in the GPA is there any sale Clause. If the Sale Clause is there then you can purchase the property.
Dear Sir,
You have to visit the embassy and then you have to initiate the power of attorney (POA) the same has to be adjudicated in India and then the respective power holder can sell the property. Otherwise, you have to come down to India and sell or you may give the power of attorney
No property sale on power of attorney: Supreme Court
The court rules that transfer through general power of attorney cannot give ownesrship title to the buyer.
Property sales through the common practice of general power of attorney (GPA) will not give ownership title to the buyer.
In a landmark judgment that is expected to send a large number of property owners into a tizzy, the Supreme Court held that the GPA method of immovable property sales is not a valid form of transfer of property.
A three-judge bench presided over by Justice R. V. Raveendran said that property can be lawfully transferred only through registered sale deeds.
"A power of attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property," the bench said, after interpreting various provisions of the law concerning property sales. However, the bench said the judgment will not affect "genuine transactions" under the GPA.
The judgment delivered on Wednesday would have an impact on both freehold and leasehold properties and affect the mode of transfer of property in Delhi and the National Capital Region (NCR) where GPA sales are very common. Even though it can cause some hardship to those who have already purchased property through the GPA, the order will help curb evasion of duties, flow of black money into real estate and also save people from being cheated by unscrupulous owners selling the same property to several people.
Check the validity of the GPA i.e., whether it is still live / not cancelled as on even date.
Obtain certified copy of the same from Registrar's office (if registered) and also take Encumbrance Certificate wherein it will reflect GPA details if registered.
Obtain Declaration from the original owners stating their willingness to sell through GPA and issuance of GPA by them.
Other details of checking title flow and due diligence needs to be looked into.
you can buy the property from the GPA holder, but you have to check whether the authorisation to sell the property is given to the GPA holder. If authorisation is given then you can buy the property through his GPA holder. Consult a local property lawyer .
Yes you can buy the flat from GPA holder.
Risk is that if GPA holder doesn't send the consideration to owner he can file suit against him and make you a party as well. So make payment through cheque or DD or online transaction to keep record of payment.
There will be no title issue if GPA is registered.
If in the said GPA, the power holder is authorised to sell the property on behalf of the principal/owner, there should not be any legal infirmity to buy the property through this GPA.
However you should confirm through a life certificate about the principal whether alive or not before buying the property.
Dear Sir,
GPA can be validly executed in favour of blood relation and other procedure is as follows:
Process to Execute Power of Attorney
The most critical step is to check whether the Power of Attorney is executed as per the laid down process. It’s a 2 step process i.e. attestation of POA at Indian Consulate/Embassy and the registration of same in India. Attestation of POA is required even if the seller is not an NRI i.e. not completed 180 days outside India. On the other hand, if NRI executes POA on Indian Soil then attestation is not required. In short, a POA executed on foreign soil irrespective of the status of a seller require attestation at Indian Consulate/Embassy. The registration process in India follows it. Let me highlight steps/checks for a buyer.
Step1: NRI seller creates two copies of Power of Attorney with detailed terms and conditions. As a buyer, you should go through each and every clause carefully to understand the content.
Step 2: Check whether the POA is signed by two witnesses present in the country of residence of a seller.
Step 3: Check whether the witnesses were physically present in Indian Consulate/Embassy at the time of signature or not. If they were not physically present, then their signatures should be attested by the Local Notary.
Step 4: The POA should be attested by the Indian Consulate/Embassy.
Step 5: The Attested POA should be registered in the India by the resident Indian i.e. POA holder. The registration process in India should be completed within three months from the date of execution of POA. The POA can be registered in SDM (Sub Divisional Magistrate) office or Sub-Registrar Office. The rule may vary from state to state.