Power of Attorney transactions
4 years ago
In 2009 Son 'S' executed a General POA in favor of Father.
Father 'F' entered into agreement for and on behalf of son S, with original landlord to purchase 5 acre property. Earnest amount was paid in cash.
In 2010, based on the rights derived from Agreement to Purchase, F further executed earnest note on behalf of S in favor of Purchaser P for sell of NA plots in proposed layout plan of the 5 acre land. F signed the earnest note and acknowledged receipt of 50% of consideration again in cash as earnest amount but never received the same. The earnest amount paid by Investor 'I' was misappropriated by the Broker 'B' who also signed the earnest note as Witness No. 1.
10 days after the earnest note, Broker B purchased the 5 acre land from the Original landlord in the name of his son.
F and S have initiated civil and criminal action against Broker B.
In 2015, Dispute arose between investor I and son S who could neither execute sale of of NA plot in favor of I nor agreed to refund the earnest amount because he or his Father never received the same. I filed civil suit again S & F (without making B and his son necessary party) seeking relief of execution of sale deed or alternatively for refund of earnest money with interest and damages from S & F.
POA holder F passed away in 2018.
What are the rights of I ?
What are the obligations of Son S? Whether Principal is responsible for torts or acts of his Agent after his death?
Jagannath S Pawar
Responded 4 years ago
Your problem solved or queried sufficiently?
From 2011 the transactions through Power of Attorney was restricted and once a Power of Attorney died or the executor of Power of Attorney died then GPA comes to an end.
Jagannath S Pawar
Responded 4 years ago
Jagannath S Pawar
Responded 4 years ago
Is the same land of 5 acres is purchased by B which was in agreement to purchase? Second if u never received money of earnest deposit how come u signed d agreement. If Broker misappropriated amount has u filed criminal case?