POA clarity
5 years ago
I ventured in a development contract with a builder, on my own property in Goa. Initially, since i am a resident in Pune, I had prepared a POA in favor of the builder to ensure all the sale deeds, etc are carried out by him on my behalf so that my physical presence would not be required in Goa. Now i am instructed by the builder to prepare a POA in favor of my cousin brother to carry out the formalities of sales deed, registration etc of the flats sold as there is a new rule by the supreme court that the builder cannot carry out these formalities.
Is this accurate information? If yes, is it safe to assume that the POA i draft in my cousin's name will not lead to any conflicts later?
A.Dear Sir,
Poa sales altogether banned by SC.
Gift Deed – once registred no cancellation
A gift is a money or house, shares, jewellery, etc. that is received without thought, or merely an asset acquired without making a payment against it and is a capital asset for the ‘Recipient.’ It can be as cash or movable property or immovable property.
If you might want to gift the property to any of your blood relatives, Gift deed can be used. In the case of immovable property, it is required to register the Gift Deed as per Section 17 of the Registration Act, 1908.
This kind of transfer is unavoidable. When you gift the assets like land, it belongs to the beneficiary or receiver of the gift and you cannot switch the transfer or even ask money related compensation.
It can be a cost effective method of transferring the ownership.
For full procedure contact me on mobile through Vidhikarya.
Rate me Five Star *
Please visit the following link.
https://vidhikarya.com/LawyerRating/9506c43f5d0b2d266a07
Poa sales altogether banned by SC.
Gift Deed – once registred no cancellation
A gift is a money or house, shares, jewellery, etc. that is received without thought, or merely an asset acquired without making a payment against it and is a capital asset for the ‘Recipient.’ It can be as cash or movable property or immovable property.
If you might want to gift the property to any of your blood relatives, Gift deed can be used. In the case of immovable property, it is required to register the Gift Deed as per Section 17 of the Registration Act, 1908.
This kind of transfer is unavoidable. When you gift the assets like land, it belongs to the beneficiary or receiver of the gift and you cannot switch the transfer or even ask money related compensation.
It can be a cost effective method of transferring the ownership.
For full procedure contact me on mobile through Vidhikarya.
Rate me Five Star *
Please visit the following link.
https://vidhikarya.com/LawyerRating/9506c43f5d0b2d266a07
Helpful
Helpful
Share
Sunil Kumar Singh
Responded 5 years ago
A.Dear Sir until you not Cancelled POA it's effective
Lawyer vidhikarya
Lawyer vidhikarya
Helpful
Helpful
Share
Read Related Answers
POWER OF ATTORNEY
Dear client, a POA attested by Notary is not valid for registering any document in the registrar's office for the transfer of any property
Registration of Power of Attorney for deemed membership to association
Dear Sir,
It is better to register the Power of Attorney and if bye-laws of the Association allows then she can become deemed member of the Association.
Need for registration of Power of Attorney for deemed membership
Dear Client,
A POA should be registered under the Registration Act, 1908 to make it legally enforceable for all the purposes it is executed by the Executor/principal empowering/authorizing a person to...
Validity of GPA
Dear Sir,
The title lies with 10 persons as such GPA executed by 8 persons is invalid. Further, 2 persons out of 8 persons also died. Thus, the legal heirs of deceased 2 persons and remaining 8 person...
GPA for Donee Accepting Immovable Land Gift Deed
Dear Client,
As defined under Sec.122 of the Transfer of Property Act, 1882, a Gift is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by o...
Read Blogs on Power of Attorney
Power of Attorney Lawyers
Find Lawyers by Location