Urgent Advice Needed on Expiration of POA
I have recently bought a house with HDFC providing the home loan.
I am a NRI based in SA and had given my mother in India a POA to act on my behalf. This was submitted to HDFC in Nov 2013
I now need to avail of the loan from the bank, however, they came back to me saying that the Power of Attorney has expired and that I would need to go through this process again.
As per my understanding (and I may be completely wrong), the POA does not expire till either of the party's death or revocation of the POA.
Am I missing something here?
Asked 3 years ago in Property Law from Kolkata, West Bengal
you are correct . POA continues until it is revoked or on death of holder of POA
The POA can not expire until and unless both the principal and the agent live.
However since the bank has raised a objection, ask it the actual reason.
yes, you are right.Find out why the bank says so.
Advocate, New Delhi
You are right. POA terminates only if it is revoked or the holder dies.
Thanks a lot everyone for your responses.
I checked with the bank for the reason why the POA expired and I was made to understand that a POA (made overseas) has to be attested by collector's office within 90 days of the signing and by the time the bank sent its representatives to the collector it was already past the 90 days.
Assuming what the bank told me is true, ss it possible to somehow revive that POA? Or would I need to go through the entire process again to get a fresh POA drafted?
Asked 3 years ago
you can use the same draft of POA . get it signed and duly attested before indian consulate again
The original draft may suffice. Get it vetted by your lawyer.