Misuse of General Power of Attorney
2 years ago
1.Does an agent/power of attorney holder need to deposit the amount of sale proceeds in Real owners account? If not done, can legal heirs claim for the same from agent after 20 years?
2. Does an agent/power of attorney holder need to inform the real owner/principal before selling of land by means GPA?
A.Dear Client,
1. yes, As per the agreed terms and conditions on the POA agreement the deposit amount takes place.
2. yes, The disclosure of the information is necessary between the Principal owner and the agent.
Thank you.
1. yes, As per the agreed terms and conditions on the POA agreement the deposit amount takes place.
2. yes, The disclosure of the information is necessary between the Principal owner and the agent.
Thank you.
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A.Dear Sir,
Yes, but if the real owner sleeping over his rights for last 20 years no Court can help him.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.In case of registered GPA , such GPA holder is bound to deposit the Sale consideration into the bank account of the Principal. In the instant case to give opinion, it is necessary to scrutinize that registered GPA, Registered Sale Deed and the year when such fact has been detected.
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