Power of Attorney in Real Estate: Rights and Risks

0
750

A Power of Attorney (PoA) is a legal document that lets someone else act on your behalf in property matters—like buying, selling, leasing, or managing real estate.

What Is It?

  • The Principal gives authority to an Attorney (Agent) to act on their behalf

  • Useful when the owner is abroad, unwell, or unavailable

  • Must clearly define the scope of powers to avoid misuse

Types of PoA:

  1. General PoA (GPA)

    • Broad powers: manage, lease, collect rent, pay taxes

    • Not valid for selling property post-Supreme Court ruling (2011)

  2. Special PoA (SPA)

    • Limited to specific tasks: e.g., selling one property

    • Legally stronger and more acceptable for transactions

Do’s:

  • Draft with clear, specific language

  • Register the PoA (mandatory for property-related powers)

  • Use SPA for sale/purchase to avoid legal issues

  • If NRI, get it notarized and attested by Indian consulate

Don’ts:

  • Don’t rely on GPA for property sale—it’s not legally valid

  • Avoid vague or blanket powers

  • Never skip registration or legal vetting

  • Don’t use PoA as a shortcut to bypass proper sale deed execution

Search
Categories
Read More
NexMates
"Why NexMates > Job Portals" Real Work. Real Earnings. Real Support.
Unlike job portals that just list jobs and leave you chasing fake leads, NexMates connects you...
By NexMates 2025-06-24 12:59:01 0 749
NexMates
Unique Features of NexMates – More Than Just a Service App
NexMates is not just another platform — it’s a new model of service delivery that...
By NexMates 2025-07-08 10:51:55 0 2K
NexMates
"Simplifying Life, One Service at a Time – Welcome to NexMates"
Welcome to NexMates – Not Just a Service, A Movement! India’s First Truly All-in-One...
By NexMates 2025-06-17 12:41:45 0 852
NexMates
"Saree speaks tradition. We drape it with perfection!"
Saree Draping – Grace in Every PleatGet the perfect drape with NexMates' Saree Draping...
By NexMates 2025-06-17 06:53:38 0 889
PROPIINN
Use the Power of Storytelling to Close More Deals
Data informs. Stories convert. People don’t just remember prices or plot sizes—they...
By PROPIINN 2025-06-28 10:50:05 0 738
PROPIINN | IINNSIDE https://agent.propiinn.com