What is a Power of Attorney by Advocate Abhishek P.N – Property Lawyer in Bangalore
A Power of Attorney is a formal written document that gives one person named the principal/donor permission to another named the attorney/agent/donee to act on that person's behalf. Many Indian property buyers use a power of attorney to assist them in the transactions involved in buying a house. It might involve buying a property with a high reputation, renting it out, selling it, or taking out a mortgage. A person should appoint a trustworthy power of attorney to help them with the buying process when buying a property.
When NRIs want to buy property in India, they often use the POA. To put it simply, it is the authority (right) that a person (Principal) grants to a lawyer (a legal representative). The two enter into a relationship known as principal-legal representative, and the principal is bound by the legal representative's actions. Let's take an example where someone purchases real estate in India but is unable to attend in person to complete the registration. In that scenario, he can use a registered power of attorney to transfer these duties and rights to any member of his family or companion.
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