logo logo

I am an overseas citizen of India.  I am looking to make a Power of Attorney to allow my brother to purchase a flat in my name and on my behalf.  I would get the Power of Attorney notarized and then validated by the Indian consulate. My question is can I make a single Power of Attorney for obtaining the loan from the bank and to authorize him to negotiate and deal with any property for purposes of purchase and registration of the property in my name? 

- by Sudha Jamthe, Boston, USA

You may execute one single Power of Attorney for all the proposed actions to be executed by your attorney holder on your behalf.  The validly executed General Power of Attorney can contain all the clauses which you would like to delegate to your attorney holder including selecting and purchasing  the property, borrowings from the bank, entering into agreement to sell, execution of  sale deed, and disposal of such property by way of  mortgage, sale or gift etc. You may please note that after notarization of the General Power of Attorney in USA, the deed of power of attorney  needs registration in the office of the concerned District Registrar within four months of such receipt of the same in India upon payment of necessary stamp duty.

image

These are all the legal questions answered by Advocate S.Selvakumar in various magazines, in various occasion including realestate reporter monthly.