Power Of Attorney For Property In India

Register power of attorney in india. Sharing rights with any of your family member or a friend by issuing a registered power of attorney is the legal and correct way of managing the property bank loans stocks and other assets located in india. The same poa can be used for managing home loans in india by a member of family.

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Builder or developer will also ask for registered poa to give you possession of flat and get it registered in your name.

Power of attorney for property in india.

Nri power of attorney to sell property in india. The falling interest rates and the weakening rupee have made real estate purchases in india an attractive proposition for nri investors. It specifies exactly what deeds or transactions the designated person can complete on your behalf. What is power of attorney.

Use special power of attorney for home loan in india 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. 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. Again be very careful and make sure to hand over a power of attorney to a trustworthy person. Do you want a power of attorney for non property related matters in india.

A power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed. While this may be a good time to find a suitable property and seal the deal the coronavirus pandemic will make it difficult for nris to travel to india to complete the transaction. If you are abroad and need a reliable person in lieu of yourself to execute decisions and act on your behalf you will need someone to delegate these functions to a third party who could be a family member business partner or an employee. A special poa is narrower in scope.

Special power of attorney.

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