Registering Power of Attorney - Implications
2 years ago
I am writing to seek advice regarding legal related implications for sale of my agriculture land. I am planning to sell an agricultural land in a rural Tamil Nadu. The buyer wants to register the land through a Power of Attorney, I am not sure of the intent of the buyer for the purchase of this land.
What are the implications for me if the land sale is transacted using a Power of attorney, as the buyer may carry out any legal & illegal activity which we will not have a control of and the buyer may receive accounted & unaccounted incomes. What will be the implications for me and how do I protect myself?
I shall appreciate receiving the expert advice of members in this forum
Thanks
A.Hi,
The buyer is someone to whom the property is being transferred. If you want to execute power of attorney to someone, he won't be the owner of the property but has the right to do transactions related to the property. PoA is a legal document giving an attorney-in-charge or legal agent the authority to act on behalf of the principal.
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The buyer is someone to whom the property is being transferred. If you want to execute power of attorney to someone, he won't be the owner of the property but has the right to do transactions related to the property. PoA is a legal document giving an attorney-in-charge or legal agent the authority to act on behalf of the principal.
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A.Are you trying to say that the Buyer wants to execute a Power of Attorney instead of Sale Deed? If that is the case then you should avoid doing this transaction through PoA. When you execute a sale deed the ownership is transferred to the buyer and when you execute the PoA the ownership remains with you only the power to do transaction on the property goes into the hands of the PoA holder. This means that anything done on the property the owner remains liable.
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