what is special power of attorney in india

An NRI (non-resident Indian) can use the special power of attorney to buy, sell, or take possession of a real estate property in India. The same POA can be used for managing home loans in India by a member of the family. Your POA holder can make payments for home loans like SBI Maxgain, HDFC, ICICI, and other banks.

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Where to register power of attorney in India?

Overview of Special Power of Attorney for NRI. Power of Attorney deals with a situation where the Principle appoints an attorney to legally represent him in case of his absence. Under Special Power of Attorney for NRI, the agent can execute almost any act as the principal. The Special Power of Attorney for NR I consists of a wide range of powers and is not confined to any …

What is a durable power of attorney in Indiana?

Jul 25, 2019 · It is important to get a power of attorney registered. Depending on its type, a power of attorney can fall under section 17 or section 18 of the Registration Act of 1908. Even though it is not mandatory to get all power of attorney registered, it is advisable to do so. Registered power of attorney serves as evidence and makes it easier to prove the principal and agent …

How to cancel a power of attorney in India?

What is a Special Power of Attorney?: 1. The authority is restricted to act only on certain matters or only a particular kind of transaction or to carry out a specific legal transaction for the Principal.

What is power of attorney in India?

Apr 20, 2020 · A Power of Attorney is a legal document that gives an individual (agent) the power to manage the legal and even some personal decisions for the other individual (principal). The agent can have the powers to make broad legal decisions or these can even be limited, according to the will of the principal.

What is the meaning of special power of attorney?

A special power of attorney allows a person (the principal) to authorize another individual (the agent) to make legal decisions on their behalf. The agent can act on behalf of the principal only under specific, clearly defined circumstances.

Is special power of attorney legal in India?

Special Power of Attorney deed has to be compulsorily registered from a Sub-Registrar office where the property is situated, if immovable property of value of Rs. 100 or above is the subject matter of the deed. Appropriate Registration charges are to be paid as per the State Rules.

What is the difference between general power of attorney and special power of attorney?

A General power of attorney (GPoA) is a legal document authorising one person (called an agent) to act on behalf of another (the principal). ... A Special power of attorney (SPoA) is a legal document authorising one person (called an agent) to act on behalf of another (the principal).Mar 22, 2016

How do you get a special power of attorney?

How to Write a Special Power of Attorney LetterDraft a list of special powers. ... Decide what powers are springing. ... Pick an agent and a successor agent. ... Note the expiration date. ... Compile the information into one document. ... Execute the power of attorney letter.

What is the validity of special power of attorney?

Once the power of attorney is invoked, it usually is irrevocable unless the principal regains their capacity to make decisions for themselves and can revoke the power of attorney; otherwise it does not expire until the principal's death.

What is the validity period of special power of attorney?

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. An SPA gets revokes on its own as soon as the specific transaction for which it was executed is completed.Nov 12, 2021

Who can issue a special power of attorney?

A special power of attorney is often carried out if the principal, for various reasons, is unable to execute the decisions independently. The principal can opt to create more than one special power attorney, delegating duties to different agents in each instrument.

What are the 2 types of power of attorney?

Generally speaking, power of attorney is used for two concerns:Power of attorney for financial issues (financial power of attorney).Power of attorney for health and welfare issues (medical power of attorney).Jan 29, 2020

How long is power of attorney valid in India?

Durable PoA: A durable POA remains effective for a lifetime, unless it is explicitly cancelled. A specific clause can be inserted in the document, stating that the representative's power would remain valid even if the principal becomes incapacitated.Oct 11, 2021

Is special power of attorney still valid after death?

Notwithstanding the exceptions mentioned, the general rule is that the death of the principal extinguishes the authority given the agent. In other words, the authority given by your brother to his friend ceases immediately upon the death of the former.May 29, 2014

Can special power of attorney be revoked?

As principal, you may impliedly or expressly revoke the agency at will and compel your agent to return to you the document evidencing the agency (Article 1920, CCP). You are also allowed to appoint another person to act as your agent if you no longer want your friend to be your agent.Oct 28, 2014

How can I get power of attorney in India?

Procedure for Power of Attorney in IndiaDraft the Power of attorney whether special or general, by a documentation lawyer or through a website.Submit the power of attorney with the Sub-Registrar.Attach the supporting documents with the power of attorney.Attest the power of attorney before the Registrar.More items...

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What are the different types of power of attorney?

Types of Power of Attorney: 1 General Power of Attorney: A general power of attorney is executed in a general context. This document gives the agent greater authority in executing actions on the principal’s behalf. A general power of attorney authorizes the agent to perform general tasks. There should not be any mention of a specific action in a general document. The amount of trust factor involved in the execution of a general power of attorney should also be greater than the specific power of attorney. General authorizations can be given on matters of property, banking, taxation, legal disputes, and so on. 2 Specific Power of Attorney: Specific Power of Attorney or special power of attorney, on the contrary, is executed for a specific purpose. The authority given by the principal to the agent is therefore significantly lesser. A specific power of attorney is given out for completing a particular action, and as soon as the action is finished, a power of attorney comes to an end. A principal may have multiple specific power of attorney. 3 Durable Power of Attorney: A durable power of attorney continues even after the death of the principal. It should be expressly mentioned in the power of attorney deed. 4 Non-Durable Power of Attorney: When it is not mentioned in the power of attorney deed that it should be continued even after the principal’s death, it is by default non-durable power of attorney deed.

What is an agent and principal?

Indian Contract Act of 1872: The relationship between a donor and donee of a power of attorney is equivalent to that of an agent and principal as mentioned under the Indian Contract Act of 1872. Section 182 of the Indian Contract Act lays down the definition of Agent and Principal. 182. An “agent” is a person employed to do any act ...

Can a principal have multiple power of attorney?

A principal may have multiple specific power of attorney. Durable Power of Attorney: A durable power of attorney continues even after the death of the principal. It should be expressly mentioned in the power of attorney deed. Non-Durable Power of Attorney: When it is not mentioned in the power of attorney deed that it should be continued even ...

What is a general power of attorney?

A general power of attorney authorizes the agent to perform general tasks. There should not be any mention of a specific action in a general document. The amount of trust factor involved in the execution of a general power of attorney should also be greater than the specific power of attorney. General authorizations can be given on matters ...

Can a power of attorney be revoked?

A power of attorney may also be revoked or cancelled in most of the cases. Under section 201 of the Indian Contract Act, an agency can be terminated when the principal revoked his/her authority or when the agent renounces his/her business of the agency. It also mentions that an agency can be revoked if the principal or agent dies or becomes ...

What is a general authorization?

General authorizations can be given on matters of property, banking, taxation, legal disputes, and so on. Specific Power of Attorney: Specific Power of Attorney or special power of attorney, on the contrary, is executed for a specific purpose. The authority given by the principal to the agent is therefore significantly lesser.

What is a power of attorney?

A "power of attorney" is a legal instrument whereby one person gives another person the authority to act on his or her behalf as his legal representative, and to make binding legal and financial decisions on your behalf. Defining A Power Of Attorney.

When is a power of attorney effective?

The Power of Attorney can be effective immediately upon signing or only upon disability.

Who authenticates power of attorney in India?

2. 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). 3. In other areas, attestation should be by a Notary or diplomatic agents.

Can an attorney sign a document?

In case an attorney under a valid Power of Attorney himself signs a document, he may, as an executing (signing) party present/admit execution of a document though it is attested by a Notary, unless the text of the power specifically excludes such powers. 5.

Can a power of attorney be revoked?

According to the Judicial perception, under the following circumstances, the power of attorney can be revoked. If the power given to the attorney is coupled with an interest it is irrevocable.

What are the different types of power of attorney?

Types of Power of Attorney 1 Durable Power of Attorney: Under this, the Power of Attorney format for authorized signatory is limited only for the duration mentioned. However, if the individual becomes mentally unstable or faces some health issues, the agent will still hold the Power of Attorney according to the specified period. 2 Healthcare Power of Attorney: Under this, the agent gets the authorization to make medical decisions on behalf of the individual. Likewise, this is usually beneficial for individuals suffering from chronic illness or even for aged people.

What is a POA?

What is the Power of Attorney (POA)? A Power of Attorney is a legal document that gives an individual (agent) the power to manage the legal and even some personal decisions for the other individual (principal).

Can a power of attorney make all decisions?

The agent appointed under the Power of Attorney format may or may not make all the decisions on the individual’s behalf. It may limit some of them to making just certain decisions as mentioned in the Power of Attorney forms. Moreover, Signing the Power of Attorney format for authorized signatory is equivalent to signing a blank cheque ...

What is limited power of attorney?

It gives a generalized authority to the individual. Limited Power of Attorney: Under this, the rights of the agent to make decisions are limited. Moreover, the individual can decide the list of rights and decisions which the agent can act on behalf of. Additionally, this usually limits the list to just a specific number of things and legal tasks.

Can you check the power of attorney PDF?

Additionally, you can check the Power of Attorney format PDF through the web, and one must mandatorily mention all the rights in POA.

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 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.

Who is the principal and the agent?

Who are the principal and agent? As a person who is empowering another person to act on your behalf, you will be the principal and the person you assign as the power of attorney is the agent. Your agent will act for you and his actions will have legally binding implications for you.

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 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.

Can a power of attorney be revoked?

Yes, the power of attorney can be revoked in the following cases: As a principal, you can revoke the power of attorney. You and the agent may mutually agree to revoke the power of attorney as well. You and the agent may mutually agree to revoke the power of attorney once the goal of giving the power of attorney is complete.

Special Power of Attorney for Purchase of Property: India Format

You can find the format of a power of attorney here ,. You should draft a POA on a green stamp/bond paper or a non-judicial stamp paper of INR 100. The NRI should authorise the power of attorney himself and the Indian Consulate in the country of residence.

Ask An Expert

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:

Power of Attorney in India for Selling Property

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.

Power of Attorney by NRI to Buy Property in India

NRIs often purchase property in India for investment purposes or to have a visiting home/holiday home. However, most NRIs do not have the time to come to India to execute the Sale Deed/Agreement for Sale transaction. Therefore, a power of attorney for purchase of property by an NRI facilitates sale transactions legally.

Power of Attorney to Sell Property in India

Power of attorney to sell property in India also requires authorization from the country of residence. Let us examine a few countries of residence and the procedures related to power of attorney therein.

Permission for Sale of Minor Property

The Indian Majority Act, 1875 specifies the age of majority in India. The Act states that the age of the majority in India is “18 years,” and any individual living in India who is below the age of 18 years is a minor. Minors cannot enter into contracts until and unless their guardians enter into contracts on their behalf.

Can a Guardian Sell Property?

Section 8 of the Hindu Minority and Guardianship Act, 1956 identifies the powers of a natural guardian or legal guardian.

How to revoke a power of attorney?

Power of Attorney Revocation 1 The principal can revoke the POA if the work for which the agent was appointed is over. 2 If the principal has named his wife as the agent, the authority of his wife will automatically be terminated, if both of them get divorced.

What is a general power of attorney?

General Power of Attorney. It is the authority in which the principal/grantor authorizes the agent to perform a certain task on behalf of the grantor/principal. The authority to the agent is given by performing some legal paperwork. The word “GENERAL” means that the authority or power given by the principal/grantor should be general regarding ...

Is stamp duty payable on power of attorney?

Stamp Duty Payable on Power of Attorney. Under section 48 of schedule 1 of the ‘ Indian Stamp Act 1899 ’, the power of attorney is chargeable. And it is mandatory to pay stamp duty by the principal/grantor in the jurisdictional registrar’s office.

Can a POA be written?

Depending upon the authority, a POA may be oral or in writing (depending upon the situation). Many institutions require power of attorney to be in writing and they usually keep the photocopy of the original for their records.

Can a POA be discharged by two people?

A POA may be discharged by two or more persons jointly in support of one or more persons. A clause should also be included in the legal document of the power of attorney that all the attorneys should act separately or jointly.

Can a principal revoke a POA?

The principal is free to revoke the power of attorney granted to the agent by giving a written notice to the agent (if it is for the fixed period). The principal can revoke the POA if the work for which the agent was appointed is over.

Is a POA a good instrument?

While the POA is a very useful instrument on the one hand but on the other hand, there are some consequences of giving power of attorney to your agent or the person known to you.

Why is a power of attorney important?

A power of attorney document is an extremely important part of estate planning yet one of the most misunderstood. It is often convenient or even necessary to have someone else act for you as there is advancement in the business and commerce transactions.

What is a power of attorney?

‘Power Of Attorney’ is an authority given by an instrument by one person, called as the donor or principal, authorising another person, called donee or agent to act on his behalf. There may be possibility of giving ‘Power Of Attorney’ by two or more persons jointly to one or more persons. Here a legal authority is given by the principal to the agent which may be broad or limited and an agent can take all necessary decisions i.e. financial, property related matters and all other matters where principal cannot be present to sign or in the case of principal’s illness and disability. A paper signed by principal giving powers to an agent is sometimes itself called a power of attorney. A paper giving a power of attorney should be clear and understandable.

Is a power of attorney registrable?

A power of attorney is not compulsorily registrable unless it creates an interest in any immovable property i.e. charge in favour of donee. 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. If a power of attorney is in respect of an immovable property of value more than Rs100 it must be registered. Registration of power of attorney authenticates the deed of power of attorney.

What does "to transact" mean?

1.1 To transact business:-To commence, transact, manage, carry on, close down any of my business and to do all things requisite or necessary or connected therewith including correspondence with any person or authority.

What does "to acquire" mean?

To acquire and to transfer:-To purchase, take on lease, to take charge or mortgage on and to acquire in any manner and to sell, mortgage, settle, charge, lease, grant tenancy or otherwise transfer and/or in any manner and/or on any terms deal with any immovable or real property or properties or any interest therein.

What does "promote" mean in a business?

To promote company:-To promote or form or cause to be promoted or formed or join with any other person in promoting or forming and to do all things necessary or proper to be done or causing to be formed and incorporated a company with limited or unlimited liability for any object and to settle and sign the memorandum and articles of association, prospectus, application forms, statement in lieu of prospectus and all other papers required for or in connection with incorporation, commencement of business of such company and other acts, relating thereto.

What does "to sell" mean?

4.1. To sell investments:-To acquire or sell, transfer, assign or join in acquiring or selling, transferring or assigning ail or any stocks, shares, annuities, debentures, stocks, bonds, obligations, government securities, units and other securities or investments of any nature whatever which do now or shall hereafter stand in my name or to which I am now or may at any time hereafter be entitled to and for that purpose to employ and pay brokers and other agents in that behalf and to receive and give receipts for the purchase money payable in respect of such sales and to transfer any investments so sold to the purchaser or purchasers thereof or as he or they direct and for these purposes to sign and execute all such contracts, transfer deeds and other writings and do all such other acts as may be necessary for effectually transferring or assigning the same.

Why does a power of attorney end?

A Power of Attorney ends for several reasons. Some of these are listed below: In case of the death of the principal. As a principal, you can end the POA. The court invalidates the POA. You and the agent can mutually agree to end the Power of Attorney.

What is a POA?

A Power of Attorney (POA) is a legal document. It gives the ability to a person (an agent or an attorney-in-fact) to sort out financial and other such matters on behalf of a principal (some other person). A power of attorney allows your appointed agent to take legal decisions related to: Financial Matters. Property Related Issues.

How long does a durable power of attorney last?

A Durable POA can either be general or limited. However, it remains in effect as soon as you become incapacitated. A durable power of attorney remains inapplicable until your death unless you reject it.

Is a power of attorney apostilled?

A power of attorney must be apostilled for commercial and company-related matters. Usually, apostilling is done by the Authentication Division in the State Department. However, this is required only for commercial and business-related matters.

What is an attorney in fact?

An Attorney-in-fact is an agent who is resolving your issues on your behalf. As you are unavailable to solve your matters yourself, so, you will assign a Power of Attorney to an agent.

How to sign a power of attorney?

1. Write the Power of Attorney on a Plain Sheet of Paper. First of all, write a Power of Attorney on a plain piece of paper and sign it. Do not print it out on an Indian stamp paper as it is not valid in the U.S. Along with you; two witnesses are also needed to sign on this document.

What to do if you can't show original documents?

Carry originals of all the supporting documents with you as you may be asked to show those to Consular Officer. If you are unable to display the original documents, then bring a notarized copy of the attached documents.