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Kevin · 28-11-07

A "Power of Attorney" is a legal instrument whereby an individual (principal) gives a person (agent) willingly the authority to act on his or her behalf as his legal representative, and to make legally binding financial, legal and other decisions on his behalf. A person need not be a lawyer to be a Power of Attorney holder.

Power of Attorney plays an important role in transferring the lawful ownership of immovable property like land, building from one person to another. It is generally done where an individual finds it convenient, wants to avoid court proceedings or is incapacitated due to severe illness or injury rendering him/her unfit to make sound decisions. He/She can appoint one person or several persons to act on his behalf.

The person who empowers is the Principal and the person upon whom the power is conferred is the Agent or the Power of Attorney holder. Granting a Power of Attorney is a legal process that involves the drafting of a document. Hence, it must be strictly interpreted.

For more information read:

http://www.indianrealtylaws.com/stamp-duty/power-of-attorney.aspx

28-11-07	#6
Kevin New Member Join Date: Oct 2006 Posts: 19 Thanks: 0 Thanked 0 Times in 0 Posts	An insight... A "Power of Attorney" is a legal instrument whereby an individual (principal) gives a person (agent) willingly the authority to act on his or her behalf as his legal representative, and to make legally binding financial, legal and other decisions on his behalf. A person need not be a lawyer to be a Power of Attorney holder. Power of Attorney plays an important role in transferring the lawful ownership of immovable property like land, building from one person to another. It is generally done where an individual finds it convenient, wants to avoid court proceedings or is incapacitated due to severe illness or injury rendering him/her unfit to make sound decisions. He/She can appoint one person or several persons to act on his behalf. The person who empowers is the Principal and the person upon whom the power is conferred is the Agent or the Power of Attorney holder. Granting a Power of Attorney is a legal process that involves the drafting of a document. Hence, it must be strictly interpreted. For more information read: http://www.indianrealtylaws.com/stamp-duty/power-of-attorney.aspx