My father purchased an agriculture land of 4.20 acres. After the demise of my father the land was transferred in the name of myself, my mother and my two sisters. Later my mother and my sisters have given power of attorney to me for sale, monetary rights and other formalities for that land. Now in view of my professional commitments and non availability of time I wish to transfer the same power of attorney to my mother.
1. Whether I can transfer my Power of Attorney to my mother through the present POA which in in my name. With the justification that I am busy with my professional commitments and sisters are residing far with their personal commitments, i want to transfer my power of attorney to my mother.
2. I understand that through this power of attorney she can sell and take the transaction amount in her account solely, without any requirement/involvement of myself and my sisters. Whether my understanding is correct, please clarify.
Thanking in anticipation of reply.
A.Dear Sir,
There is no document called transfer of Power of Attorney. But, ask them to withdraw or cancel such POA. Then yourself and your sisters can execute POA in favour of your mother.
A.Dear Sir,
There is no way possible to transfer the current power of attorney which you are holding to someone else. To make your mother power of attorney holder you will have to cancel the earlier power of attorney and execute another PoA where your mother will be the holder/donee.
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Transfer of Power of Attorney
CHit Fund
