Power of Attorney
Power of Attorney is a document which empowers a specified person to act for and in the name of the person executing it.
Process steps for Registration or Notarization –
- Collection of required information,
- Drafting and finalizing the content of the Power of Attorney,
- Home visit by the authorized Notary for notarised POA OR visiting Sub-Registration Office for the Registration,
Required Documents for POA –
- Identification Proof and Address Proof of Parties.
- One Passport Size Photograph of Parties.
- Electricity Bill OR Index II OR Tax Receipt of the Property (if POA is related to some property).
Power of Attorney by NRI -
NRI Power of Attorney can be executed outside India for the purpose of selling or buying a property in India, managing a bank account and investments or managing rental property, etc.
For valid POA following things should be done by the POA Grantor and Holder -
- The power of attorney should be executed on a stamp paper / plain paper and in a manner as the case may be as applicable to the country in which the power of attorney is executed,
- The signature of the executant should be authenticated by the Indian Embassy / Indian Consulate / High Commission of India in that country where the executant resides,
- Stamp duty should be paid in India within the time limit, as applicable in the state where it is to be submitted,
- Power of Attorney Holder should get the POA Notarized in India within the time limit.
Power of Attorney in Favor of Near Relatives for Sale of Immovable Property -
If Power of Attorney for selling the property is assigned to near relatives without any consideration then Stamp Duty can be saved. This kind of Power of Attorney Should be registered compulsorily, there is an exemption for registration if someone is staying outside of India and wants to do a POA.
For this kind of POA following powers can be assigned to POA Holder–
- search for an appropriate buyer and negotiate, fix the consideration amounts,
- to execute/sign MOU, Agreement/s, Sale Deed/s, Power of Attorney, Affidavits and all necessary documents with the Purchaser/s for completing the transfer/sell,
- sign and execute the Deed of Correction or Deed of Cancellation or Deed of Confirmation, if required,
- present the documents for registration in the concerned office of the Registrar / Sub – Registrar,
- represent in the Government Offices, Revenue offices and to comply with all the necessary formalities such as execution of necessary Forms, application/s etc. for the purpose of completion of sale transaction,
- take all necessary legal action/s, file necessary civil and/or criminal proceedings, to accept the service of summons/notices from the court, sign, verify the Plaint, Written Statement, appeal memos, applications, legal Notices, Revision Applications, Interim, appoint advocates, to sign Vakalatnama, to change Advocate/s from time to time for representing in the court proceedings/matters related to the concerned property,
- file necessary documentary evidence, to swear Affidavits/ Affidavit-In-Chief, to depose on my behalf in the court proceedings/matters related to the concerned property, compromise/settle the dispute/s or court matters, etc.
Besides these other relevant powers can be assigned.
Special Power of Attorney for Leave & License Agreement -
Power of Attorney can be given only for the purpose of signing and/or to present the Leave and License Agreement and/or managing the rental property. It is a very convenient way for those who are unable to look after their properties given on rental basis.
While preparing this kind of special POA following powers can be assigned to POA Holder-
- authority to sign/execute the Leave and License Agreement,
- authority to present the Leave and License Agreement in the concerned Registration Office,
- authority to submit tenants information in the Concerned Police Chowky,
- authority to enter, view and inspect the Property,
- authority to revoke and/or cancel the Leave and License Agreement,
- authority to collect License Fees and Deposit from the Licensee/s,
- authority to represent and sign relevant documents in Society matters,
- authority to represent in any legal matters related to licensed premises, etc.