POWER OF ATTORNEY AND GENERAL POWER OF ATTORNEY
A power of attorney is a legal document through which gives authority to another person to take any financial or personal decision on your behalf. The person who gives power of attorney is known as PRINCIPLE (EXECUTANT) and the person who receives Power of attorney is known as AGENT ( ATTORNEY).
WHY POWER OF ATTORNEY IS REQUIRED ?
- If you are Physical Handicap
- If you have any Travel Restriction
- If you are busy in diffrent activities like business or any other things.
- General power of attorney
- Special Power of Attorney
GENERAL POWER OF ATTORNEY
What type of Powers given to the Genral power of attorney. (clauses)
- To manage, control, look after, and supervise the property as said attorney deems fit and proper.
- To construct, renovate or rebuilt the said property as per sanctioned plan insured by the concern authority, if necessary.
- To apply for and get the electric, water, power, sewerage and other connection/ services the said property from the concern dept.
- To let out time said property on rent to any person to realise the rent of the rent of the said property from the tenants.
- To execute, sign present and ratify all such papers, document etc, for me in my name on my behalf pertaining to sale and transfer of the said property.
- To deposite all fees, dues, installments, house tax and other charges to the concerned authorities on my behalf.
- To sell, mortage, gift, release, transfer the aforsaid property to any one to receive the earnest money and consideration amount to execute the sale dead/proper deeds and documents and present the same for registration in the office of the concerned sus- registrar, Delhi and get the same registered and to admit the execution thereof.
- To receive the compensation or alternative site in case the said property is acquired by the concerned authority.
- To appoint and remove future attorneys.
- This general POA shall be irrevocable.
And generally to do all acts, deeds and things for me in my name and on my behalf in respect of my said property as my said attorney may deems fit and proper.
Legal status of Power of attorney
Who can create Power of attorney?
A person who is Mentally Sound then he can create POA but is the person is Mentally Incapacitated then he cannot create POA and if he had made the power of attorney then the document will be invalid and it will not considered.
When power of attorney will be LEGAL.
- When it is singned and dated by Principal.
- Notarization compulsory.
Validity and Duration of Power of attorney.
- Special Task is completed
- Revoked by principle
- Validity period is over
- Principal- incapacitated, Bankrupt or dies
- Divorce or legal Separation
Misuse by agent- If you have given the POA to a wrong person who is not trust worthy then, he can misuse the power like transfer the property to the other person whom you have not told to transfer.
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