Buying property registered on name of NRI and SPOA
2 years ago
I am willing to buy a property in resale , it is registered under name of NRI. NRI has given SPOA for presentation to a india resident. Agreement and sale deed need to send to foreign for owner signature but how do I verify that it has been signed by him in foreign.
SPOA must be in favour of blood relative of such vendor. Further, such signatures of NRI will have to be endorsed by the Indian Ambassador residing in that Country thus such signature will be treated as true and correct.
PLEASE GIVE ME RATING AS RANK 5
Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.Nowadays most of the NRI Owners give Admit Power of attorney which provides the authority to the Power of Attorney holder (a Resident Indian) to represent the NRI Owners only at the registration office but the Sale Deed need to be send to foreign for Owner's signature.
It is necessary on your part to enter into a Memorandum of Understanding with that NRI Owner regarding all the terms for executing Sale Agreement, Sale Deed etc in registered manner and request that NRI Owner for attestation / apostille of his signature and photograph ( along with identity proofs which includes photocopies of his Passport) in that MOU before the Notary Public and/or Indian Embassy/ Consulate of that Country in presence of two attesting witnesses and thereafter that attested MOU either by Post or through Courier in the Envelop of the Indian Embassy is required to be sent either directly to you or to the SPOA of that NRI Owner.
Read a blog on NRI's Power of Attorney to sell property in India
Unless it is not done this way it will be difficult for you to be sure about it.
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