Power of attorney
6 months ago
Can i give power of attorney of my bank account to two person jointly(with the consent of both , transaction can be done)?
A.Dear Client,
A “power of attorney” is a mode of creating an express agency. It is a written instrument executed by a Principal to appoint an Agent to act for the Principal in one or more transactions. “Power-of-attorney” includes any instruments empowering a specified person to act for and in the name of the person executing it. A Power-Of-Attorney must be executed in favour of a single person/donee for the specified transaction and it cannot be executed in favour of several persons for the same act or single specific transaction. But a power of attorney can be executed by more than one principal in favour of single person.
A “power of attorney” is a mode of creating an express agency. It is a written instrument executed by a Principal to appoint an Agent to act for the Principal in one or more transactions. “Power-of-attorney” includes any instruments empowering a specified person to act for and in the name of the person executing it. A Power-Of-Attorney must be executed in favour of a single person/donee for the specified transaction and it cannot be executed in favour of several persons for the same act or single specific transaction. But a power of attorney can be executed by more than one principal in favour of single person.
Helpful
Helpful
Share
A.Dear client,
Yes, it is possible to give power of attorney of a bank account to two persons jointly, with the consent of both parties.
Yes, it is possible to give power of attorney of a bank account to two persons jointly, with the consent of both parties.
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
