how to get power of attorney to buy property in india

1. Write the power of attorney on plain paper. Sign the power of attorney. Two witnesses should also sign this document. ...
2. NECESSARY ONLY FOR COMMERCIAL AND COMPANY MATTERS. Send a request for an apostille to the Secretary of State. ...
3. FOR PROPERTY AND FINANCES Send the document to the Indian Consulate. ...
4. FEES Pay the fee at the Consulate. The fee of attestation is as follows: Non-refundable $ 20 (twenty) for each attestation. ...
5. Once your power of attorney is attested by the Indian Consulate/Embassy you can send it to India.

Full Answer

What makes a good power of attorney for property?

What Makes a Good Power of Attorney for Property?

• Choose your Agent wisely. Your Agent will effectively become you when using the authority granted in the POA for P. ...
• Appoint a successor Agent. If your POA for P is intended to remain active for any length of time be sure to appoint at least one successor Agent in the ...
• Understand the limits. ...
• Know the law. ...

What is a property power of attorney?

Typically, individuals who have been granted power of attorney (called the mandatary in Louisiana) have access to the principal’s bank accounts, investment accounts, and personal property. This often includes the authority to write checks to themselves ...

What is power of attorney in India?

Procedure for Registration of Power of Attorney in India and Abroad. A Power of attorney is a formal instrument by which one person empowers another to represent him or act in his stead for certain purposes. The Power of Attorney Act 1882 1A -Definition. Shares. Dispute Resolution (Litigation, Arbitration & Mediation)

How responsible is the power of attorney?

On balance he feels being regulated while hard work gives those who earn the credentials a sense of respect. Labour has recently drawn attention to the flaws in current lasting powers of attorney regulations. Alison Morris who is a partner with Moore Kingston Smith has taken off from where Labour has left off and examined the issue in more detail.

Can I buy property with power of attorney in India?

A power of attorney authorizes another person residing in India to complete the property transaction on your behalf. This POA needs to be signed by you in the presence of a consulate officer or notary in your country of residence. It will also have to be attested by them.

Is power of attorney valid for purchase of property?

A power of attorney is not a valid instrument to transfer property titles when buying or selling a property. However, due to the financial benefits, it provides to both the buyer and the seller, selling a property through a general power of attorney has become common practice in Indian cities.

How much does it cost for power of attorney in India?

Generally, the stamp duty payable for a power of attorney is Rs 100. For registration , the fee payable is also Rs 100. For a general power of attorney given to promoters and developers, the stamp duty applicable is Rs 1000 and registration charges are Rs 100.

What is the procedure to get power of attorney in India?

The Power of Attorney registration process includes the following formalities:Drafting of the Power of attorney whether general or special, by a.Submitting the POA with the Sub-Registrar.Attaching the supporting documents with the POA.Attesting the POA before the Registrar.Attesting of the POA by 2 witnesses.

What are the disadvantages of power of attorney?

What Are the Disadvantages of a Power of Attorney?A Power of Attorney Could Leave You Vulnerable to Abuse. ... If You Make Mistakes In Its Creation, Your Power Of Attorney Won't Grant the Expected Authority. ... A Power Of Attorney Doesn't Address What Happens to Assets After Your Death.More items...•

How long is power of attorney valid in India?

Also note here that a PoA has to be registered at the Sub-Registrar's Office to get a legal validity. Another important thing to note here is that a PoA remains valid only till the life of the principal. Within their lifetime also, one can revoke the PoA.

Is notarized power of attorney valid in India?

Section 85 of the Indian Evidence Act applies to the documents authenticated by a notary. A court will presume that every document purporting to be a power of attorney, that has been executed before and authenticated by a notary public or any court, is properly executed and is a conclusive proof.

Can power of attorney holder sell property to himself?

when a registered PoA authorizes the agent to make the transaction, he can certainly do so however, it does require the free will of the original owner. If the Power of Attorney holder is following all the legal procedures then he cannot be barred by law from selling the property to himself.

What is power of attorney in property?

A Power of Attorney (POA) is an authorisation given by a property owner in writing to another person to carry out property-related transactions on their behalf.

Can power of attorney be done online in India?

Select your State and start Preparing your Power of Attorney document. Fill the form and make payment online. Print the document and register it.

How long does it take to register a power of attorney?

8 to 10 weeksHow long does it take to get a PoA registered? It usually takes 8 to 10 weeks for The Office of the Public Guardian to register a power of attorney, so long as there are no mistakes on the form. It may take longer if there are issues they want to look into, although this is rare.

Does power of attorney need to be registered in India?

Registration of power of attorney is optional In India, where the 'Registration Act, 1908', is in force, the Power of Attorney should be authenticated by a Sub-Registrar only, otherwise it must be properly notarized by the notary especially where in case power to sell land is granted to the agent.

Who authenticates power of attorney in India?

In India, where the Registration Act, 1908, is in force, the Power of Attorney should be authenticated by a Sub Registrar only, (Whenever a person signs the document and his attorney presents/ admits execution). In other areas, attestation should be by a Notary or diplomatic agents.

How long does it take to get a power of attorney stamped in India?

Foreign Power of Attorney should be got stamped by the Collector after its receipt in India within prescribed time of 3 months

What happens if a power is irrevocable?

If the power is irrevocable as per the test laid down the parties are nevertheless free to make it revocable by an express stipulation to the contrary.

How to decide whether a given power is coupled with interest or not regards?

To decide whether a given power is coupled with interest or not regards are to be given to the facts of each case and the wordings of the instrument itself. The right of an agent to remuneration though stipulated in the form of property to be produced by exercise of power is not an interest in the required sense.

What is the main rule of power of attorney?

The main rule of power of attorney is that it should be strictly construed. An agent cannot through his acts bind the principal to a larger extent than he is empowered to do under the power of attorney. Fraud by the agent holding the power of attorney does not bind the principal.

What is a power of attorney?

A power of attorney is an instrument by which a person is authorized to act as an agent of the person granting it. It is important to know a person need not be a lawyer to hold a Power of Attorney as an agent for someone else. This article looks at the status of General Power of Attorney in India and how it can be used to buy real estate in ...

What happens if the power does not authorize the agent to carry on a business except with limitations?

If the power does not authorize the agent to carry on a business except with limitations any act done by him in excess of such power will not bind the principal. Example - power to dispose off property does not confer the power to mortgage the property.

Things To Know About Power Of Attorney

In most cases, the selling and buying of property are done with the buyer’s legal consent and the seller. However, there can be circumstances where the legal rights for the transaction are given to someone else. The legal process of transferring the right to conduct the deal is done by granting the Power of Attorney.

Here are some of the general points that you need to keep in mind in the relation of Power Of Attorney

Power Of Attorney can have limited power for a specific purpose or can be of general application.

What is a power of attorney?

A power of attorney is a legal document that explains this arrangement between these two parties. A power of attorney can be created to empower the agent for: Financial matters. Property related matters. Commercial or Company matters.

What are the different types of power of attorney?

Types of Power of Attorney. There are two types of power of attorney: General power of attorney. Special power of attorney. A general power of attorney is usually a document that allows an agent to act on behalf of his principal on more than one matter. There is no expiration date on a general power of attorney unless otherwise specified.

How to revoke a power of attorney?

Yes, the power of attorney can be revoked in the following cases: 1 As a principal, you can revoke the power of attorney. 2 You and the agent may mutually agree to revoke the power of attorney as well. 3 You and the agent may mutually agree to revoke the power of attorney once the goal of giving the power of attorney is complete. 4 The power of attorney is automatically revoked in the event of death, bankruptcy, and insanity (principal).

What is an apostilled copy of a power of attorney?

An apostilled copy is a certificate from the State officials that the notarized copy of the power of attorney is valid. Usually, this is done by the Authentication Division in the State Department. This is necessary only for commercial and business related matters.

How to pay fees at the consulate of India?

Fees should be paid through money order or cashiers' check drawn in favor of the 'Consulate General of India, (City of Consulate)'. Personal checks, credit cards or other banking instruments are not accepted. Debit cards are accepted with an additional service fee.

When is a power of attorney revoked?

The power of attorney is automatically revoked in the event of death, bankruptcy, and insanity (principal).

Does a power of attorney expire?

There is no expiration date on a general power of attorney unless otherwise specified. On the other hand, the special power of attorney is created to give an agent power to complete a specific job. The power of attorney ceases to apply once the transaction is completed.

What is a power of attorney in India?

resident with business interests and/or property in India, you may need to grant Power of Attorney (PoA) to someone in India to carry out transactions on your behalf. PoA is a legal document that authorizes a third party to carry out activities on your part.

How to get a PoA in India?

To be valid in India, the PoA needs to be attested by the Indian Embassy or any of the Indian consular offices in the U.S. This is possible either by appearing in person or making arrangements through the mail.

What is an apostilling power of attorney?

Apostilling Power of Attorney. Apostilling PoA means you get a certificate from state authorities that the notarized PoA is valid. The relevant page on the Indian Embassy website also mentions that apostilling is not necessary.

How long is a general POA valid?

A general PoA is valid for an unspecified or specified period of time for all commercial, financial, and property-related matters.

How much does the Indian consulate charge in Chicago?

The Indian consulate in Chicago charges $22 per person for property-related affidavits and $12 per person for other affidavits. For applications through mail, there’s an additional, nonrefundable fee of $2 only.

How much does an Indian consular fee cost?

For in-person applications, the usual non-refundable fee is $20 per person, per page. The Indian consular office in New York, however, charges per document rather than per page.

What is the legal term for a POA?

The legal term for the person granting the PoA is “principal”. The legal term for the person receiving the PoA is “agent”. “Property affidavit” and “financial affidavit” are other terms used to indicate PoA.

How to register GPA in India?

Registration of GPA executed outside India is also done at the offices of the Sub-Registrar. GPA executed outside India can be prepared on plain paper and executed before and authenticated by Indian Consulate / Embassy or Notary Public. The GPA is then sent to India to the GPA Holder. The GPA Holder has to visit the sub-registrar office with the GPA for registration. The executed GPA has to be presented to the Sub-registrar along with original documents along with copies showing proof of residence and proof of identity of the GPA Holder. Two passport size photographs and two witnesses who should also have proper identification are also required for registration of GPA.

Who authenticates GPA in India?

Executing GPA in India: If the Principal at the time of executing the GPA resides in any part of India, the GPA has to be executed before and authenticated by the Registrar or Sub-Registrar within whose district or sub-district the Principal resides .

How many types of power of attorney are there?

There are two kinds of Power of Attorney:

What are the different types of powers of attorney?

There are two kinds of Power of Attorney: 1 A General Power of Attorney (GPA) is one by which authority is given to act for the executor in all matters, or in all matters of particular nature, or concerning a particular business. This POA type confers sweeping & sometimes unlimited powers. 2 A Special Power of Attorney (SPA) is one by which authority is given to do some particular specified act. This POA type confers limited powers & should be the first choice, if circumstances allow.

What is a POA?

The Power of Attorney Act 1882 1A -Definition. A Power of attorney is a formal instrument by which one person empowers another to represent him or act in his stead for certain purposes. The Power of Attorney Act 1882 1A -Definition - In this Act, “Power of Attorney” (POA) includes any instrument empowering specified person to act for and in ...

What is a special power of attorney?

A Special Power of Attorney (SPA) is one by which authority is given to do some particular specified act. This POA type confers limited powers & should be the first choice, if circumstances allow.

Can a notary public register a POA?

An authentication by a Notary Public is sufficient for a Power of Attorney not giving authority to register a document. However if the Power of Attorney gives authority to present a document for registration, then the said POA needs to be registered.

How to have POA for purchase of property?

To have an effective POA for the purchase of property, an NRI must sign the POA agreement in the presence of a consulate officer or Notary in the country of residence. Further, such consulate officers must attest to the agreement for it to be valid. The NRI should register the POA under the Indian Registration Act, 1908, to make it valid and enforceable in India.

How many steps are there to buy property in India?

There is a 3-step process when an NRI from the US wishes to purchase or sell property in India.

What is a POA in India?

NRIs use Power of Attorney (‘POA’) as an instrument to appoint an agent/attorney to help them sell their properties in India. NRIs find it difficult to come to India and sell their property, and hence, the concept of a power of attorney exists. A power of attorney authorizes its holder to enter into transactions and take decisions on behalf of the actual owner of the property.

What is POA in law?

The POA is a powerful document and must be drafted between two parties that trust each other. The agent must be selected with caution as the agreement would transfer significant power to decide the owner/principal to the agent. A poorly drafted agreement that does not consider the risks involved (such as consideration, percentage of share between co-owners, obligations of agents, the role of decision making by an agent, etc.) would cause litigation which would severely affect the parties.

Why should you include clauses in a POA?

You should include certain clauses in a PoA to ensure that no loopholes could pose a threat to the NRI/owner/principal in case of a dispute. Some of these clauses are:

Where do you send POA?

Secondly, the POA must be sent to the Secretary of State for an apostille from the Department of State, Authentications Office, which will use the Seal of the US Department of State to authorize the document's validity will be sent overseas.

Can an NRI buy a house in India?

Therefore, a power of attorney for purchase of property by an NRI facilitates sale transactions legally. Moreover, NRIs would require a special power of attorney to execute a transaction. Through a general power of attorney , no NRI would be able to sell or purchase property in India.

How to execute a power of attorney for an NRI?

An NRI must follow the following procedure to execute the same: The first step for an NRI is to draft the Power of Attorney on a plain paper with his/ her own signatures. The following step is to visit the Indian Embassy or Consulate in that country and get it stamped and sealed from the Indian Embassy.

Where to get deeds registered in India?

The final step is to be executed by the friend/ family member in India to get the said deed registered in India at a Sub- Registrar Office or Sub- Divisional Magistrate Office by paying the standard registration charges as applicable in that state of India.

What is relevant information of the agent/ attorney/ donee?

Relevant information of the agent/ attorney/ donee i.e. the person who is getting the authority.

What is a general power deed?

In case of a general power that is being granted then the deed must clearly mention the entire details of all the acts as well as the areas of granting the said power. For instance, if a general power pertaining to property is granted, then the Principal can grant the power to rent or buy any property while not being authorised to sell any of the properties.

What is a POA?

Power of Attorney (PoA) A Power of Attorney is a legal document where 1 person grants the right to execute i.e . power to transact in matters regarding property, legal and judicial proceedings, banking, payment of tax, etc, to another person due to any of the reasons explained above earlier. A Power of Attorney is an authorisation granted by ...

What is the solution to a financial transaction where a person is unable to appear personally?

As a result, during circumstances where a financial transaction has to be carried out mandates the attendance of the person who is unable to appear personally, then the only solution towards this is to delegate his own powers i.e. to act on behalf of the person to another individual.

When a person is authorised with absolute general right or power to act legally with respect to the property or bank answer?

When a person is authorised with absolute general right or power to act legally with respect to the property or bank accounts or tax payments, or registration work or to file a case against 3 rd party etc by another person is termed as a GPA .