What Is Special Power Of Attorney In India

It is primarily used by nri non resident indians to manage their property in india.

What is special power of attorney in india. If you have bought or thinking about buying an apartment in india and can t visit personally to take the possession use poa. You can grant this right for a limited time or you can create a durable legal document intended to last your entire lifetime. As a principal you can revoke the power of attorney. We have gathered a handy guide for your ready reference and this includes the nri power of attorney format as well.

Yes the power of attorney can be revoked in the following cases. On the other hand the special power of attorney is created to give an agent power to complete a specific job. Giving a trusted family member friend or professional organization power of attorney means you authorize that person or company to transact business on your behalf. Again be very careful and make sure to hand over a power of attorney to a trustworthy person.

The power of attorney ceases to apply once the transaction is completed. The special power of attorney spa is irrevocable and the principal must ratify all the activities done under the special power of attorney. The power of attorney to sell property in india is not that complicated. To learn the meaning and significance of power of attorney as such kindly read a useful post on the power of attorney written by our legal knowledge partner the juriskps law offices by clicking here.

Send your power of attorney to india as soon as the process is complete and the indian consulate has attested your power of attorney you can send it to india. In estate planning a power of attorney is a legal document that authorizes another person called an agent to act on behalf of the person who created the power of attorney known as the principal in the event that the principal cannot make those decision his or herself. Is it possible to revoke a power of attorney. A power of attorney poa is a document that is given to another person chosen by you the power to undertake acts or deeds when you cannot physically be present.

Your poa holder can make payments for home loans like sbi maxgain hdfc icici and other banks. In essence a power of attorney gives the designated person the power to execute deeds or sign certain contracts on your behalf. A special power of attorney is a legal document that authorizes one person called an agent or an attorney in fact to act on behalf of another person known as the principal under specific. 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.