Resale Property from POA - Indian Real Estate Forum

Curious Cat · 07-06-10

Hi Friends

While purchasing a resale property what are the checks to be done when the owner (working abroad) assigns power of attorney to his friend in India?
How valid would the transaction be?
What could be the problems?
How do I ensure that the transaction with the POA is valid and is not and will not be a double sale.
How safe is POA for transaction above a Crore?

Curious

kalasivan · 09-06-10

You can obtain a copy of the POA duly signed by the registrar at the Registrar office where the POA is registered by paying a nominal fee. In fact if you are registering the property in another registrar office, they will insist for the same. Pl. consult a reputed document writer for more details.

abk · 09-06-10

Quote:

Originally Posted by kalasivan

You can obtain a copy of the POA duly signed by the registrar at the Registrar office where the POA is registered by paying a nominal fee. In fact if you are registering the property in another registrar office, they will insist for the same. Pl. consult a reputed document writer for more details.

no you cannot!

copy of the POA will be issued only to to the principal or power ho;der.

kalasivan · 09-06-10

I meant that only. The holder of the POA can obtain it from registrar office. The same can be produced to the registrar at the time of registration.

Curious Cat · 09-06-10

Quote:

Originally Posted by abk

no you cannot!

copy of the POA will be issued only to to the principal or power ho;der.

So How do I (Buyer) ensure that there would be no malpractice?

abk · 10-06-10

Quote:

Originally Posted by Curious Cat

So How do I (Buyer) ensure that there would be no malpractice?

you can verify with the subregistrar whether it is still in force.
the original document gives a 70% assurance of the right of the vendor.

ask locally near the site.

check the ec for any other transaction.

do not buy if the original documents are not available.

pls check with a lawyer

07-06-10	#1
Curious Cat New Member Join Date: Mar 2009 Posts: 14 Thanks: 0 Thanked 0 Times in 0 Posts	Resale Property from POA Hi Friends While purchasing a resale property what are the checks to be done when the owner (working abroad) assigns power of attorney to his friend in India? How valid would the transaction be? What could be the problems? How do I ensure that the transaction with the POA is valid and is not and will not be a double sale. How safe is POA for transaction above a Crore? Curious

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09-06-10	#2
kalasivan New Member Join Date: Oct 2009 Posts: 47 Thanks: 0 Thanked 1 Time in 1 Post	You can obtain a copy of the POA duly signed by the registrar at the Registrar office where the POA is registered by paying a nominal fee. In fact if you are registering the property in another registrar office, they will insist for the same. Pl. consult a reputed document writer for more details.