If POA is executed in favour of cousin it would attract higher stamp duty
POA should be duly registered
Power of Attorney to a cousin
Hello, I am in the process of selling my property in India. I will be visiting India for 5-7 days for initial transaction where buyer will be giving me the 50% of the purchase price to me. I won't be available in India for for Final/Registration process ( handling over keys part ), which can take 30-40 days. I am planning on giving the Power of Attorney to my Cousin ( different last name than mine ) , where buyer will be giving rest of the balance ( 50% ) and will be credited to my Account. Power of Attorney will have my account # so money will only go to my Account. My Question is , Can a Power of attorney can be given to a Cousin or it HAS to be a blood relative / sibling like a sister ( who is married now and has different last name ). What are my options now ? Thanks SL
Asked 2 years ago in Property Law
Religion: Hindu
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12 Answers
Cousin will be only to sign the Final paperwork using POA. Balance payment will go to my account only as those instructions will be included in POA. Higher stamp duty is paid by buyer or seller or both ?. How much higher ? What is meant by duly Registered ?
Asked 2 years ago
Yes, you can give a power of attorney to your cousin. There is no legal requirement that the power of attorney be given to a blood relative. However, it is important to choose someone who you trust and who is capable of handling the tasks that you are giving them authority to do.
You can give them a specific power of attorney that limits their authority to the tasks that you have specifically mentioned.
POA for sale of property this required to be registered
it has to be stamped as conveyance ie would attract around 6 per cent stamp duty if executed in Mumbai
You will have to pay stamp duty on POA
POA can be given to any person of your choice in whom you have faith and trust. As such law does not restrict this power and liberty of person in any manner. So you can give you POA to your cousin or friend or any other person. You should give special power of attorney and should avoid general power of attorney. Liability to pay stamp duty vest upon Buyer only. There is prescribed stamp duty payable on sale and stamp duty is calculated on amount of sale.
Yes, you can give a POA to your cousin. It is advised to make a Special Power of Attorney(SPA) and it must be registered with the Sub Registrar Office. Stamp duty is to be paid by the buyer
You will have to tell the state in which the property is situated.
The law relating to execution of sale deed by power of attorney varies from state to state.
Regards
You can get your property transactions done through your power of attorney agent.
If the power agent is your blood relative then the stamp duty would be lesser compared to a non blood relative power agent.
The power of attorney deed should be adjudicated by the registrar concerned which is also considered as a legally valid document by which the power agent can represent you before the registrar for all such transactions pertaining to immovable property during your absence.
If the Power agent is not authorised to collect the money/sale consideration amount on your behalf then the buyer can deposit the same to your account directly.
The expenses towards the registration of the power of attorney deed would be borne by the principal authorising his power agent for this task.
If the POA is for transfer of rights in immovable property then it has to be compulsorily registered
Dear Client,
Yes, you can give a power of attorney to your cousin. There is no legal requirement that the attorney-in-fact be a blood relative. However, there may be some practical considerations to keep in mind. For example, if your cousin is not familiar with the property transaction process in India, they may need more help and guidance from you.
In your case, since your cousin will be handling the final transaction and receiving the balance of the purchase price, it is important to make sure that they are trustworthy and reliable. You should also make sure that they understand their responsibilities under the power of attorney.
Make sure that your cousin is willing and able to take on the responsibility.
Be clear about the specific powers that you are giving them.
Get the power of attorney in writing and have it signed by both of you.
Have the power of attorney registered with the sub-registrar's office in the district where the property is located.
- You can give POA to your said cousin for performing the said work on your behalf , however this POA should be registered from the office of the Registrar.
- However , if this POA should be given to any blood related , then the stamp duty for registration will be less than the cousin
- The charge of registration of the POA will be born by the seller. i.e. the person who is giving POA
you can grant a POA to any person of your choice
basically it will be a presentation POA to admit your signature before the sub-registrar and to complete the registration formalities
such a POA has to be signed by the grantor before the notary public or consular office if the grantor is not in India
registration is not needed
if the POA is being signed in India then it has to be signed before the sub-registrar who has jurisdiction over the place where the principal/grantor resides or has his residence
