I want to give my power of attorney to my close friend, whom I trust completely. I have multiple properties in India, both commercial and residential. Key points for advise is as below: 1. I have both under construction and finished properties. 2. Properties are residential, commercial and plots of land. 3. Some properties are fully owned by me , while some are in joint name with my wife What is the best for of power of attorney which i can give to my friend to manage my properties without any legal hitch. It includes doing anything with the properties viz: renting them, selling them etc etc. Please advise as to what kind of power of attorney i should get made and where to register it ? all my properties are in Uttar Pradesh
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Dear Concerned,
Although giving a power of attorney to a person outside blood relation is not safe but you may give notarized special power of attorney(SPA) in favor of your friend specifically mentioning the rights which you want to give without missing the facts in the SPA that all payments in reference to rent, sale etc should be made in favor of you or your wife.
(Special power of attorney- this can be registered or notarized will do.)
Best of Luck- stay blessed.
You have to execute POA in favour of family member in respect of various properties owned by you
2) POA should be duly stamped and registered
Sir, I want to execute it in favor of my friend , family members are not a option. so what is possible? what kind of POA
When the authority is given for a number of acts in a number of transactions, it is called GPA. A GPA is a document through which one person appoints another to represent him and act on his behalf, to manage, attend to or carry out certain works
2) you will have to execute general power of attorney in favour of your friend
3) have it duy stamped and registered
A General Power of Attorney (GPA) may be executed by you in his favour to authorize him to perform the acts which you want to conduct through him. The GPA will have to be registered mandatorily.
Yes you can do it in favor of a friend as well however it is still suggested that you do that only when you are 100% sure and make sure the payments are made in your favor only.
If your friend is trustworthy, then you can execute a general power of attorney deed in his favor covering all the desired activities to be done through him on your behalf and you shall ratify all the transactions.
This GPA shall be registered.
Sir, I want to execute it in favor of my friend , family members are not a option. so what is possible? what kind of POA
For taking care of your properties or your interests in the properties, you need not take consent or permission from anyone to execute a general power of attorney deed favoring your friend.