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Registration of POA
Registration of POA.

A property power of attorney is a legal document that grants a person (the “attorney-in-fact” or “agent”) the authority to act on behalf of the property owner (the “principal”) in various matters related to the property. This authority can include tasks such as buying, selling, leasing, mortgaging, or managing the property. The power of attorney allows the agent to make decisions and execute transactions as if they were the property owner.

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How it Functions ?

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1. Property document collection

All the property papers can be uploaded or hard copies can be collected.

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2. Review & Analysis

All the property papers can be uploaded or hard copies can be collected.

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3.Detailed consultation

All the property papers can be uploaded or hard copies can be collected.

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4. Delivery

All the property papers can be uploaded or hard copies can be collected.

Here’s how a property power of attorney is typically registered and works:

  1. Drafting the Power of Attorney: The property owner (principal) drafts the power of attorney document, specifying the scope of authority granted to the agent. The document should include details about the property, the agent’s powers, limitations, and any specific instructions.
  2. Types of Property Power of Attorney: General Power of Attorney: Grants broad authority to the agent to handle various property-related matters. Specific Power of Attorney: Grants limited authority for specific tasks, such as selling a property or handling rental agreements.
  3. Notarization: The power of attorney document is typically notarized by a notary public to ensure its authenticity and legality.
  4. Registration: In many jurisdictions, property powers of attorney need to be registered with the local sub-registrar’s office to make them legally effective. The registration process involves submitting the notarized power of attorney document along with any required fees and forms.
  5. Stamp Duty: Depending on the jurisdiction, stamp duty may be required to be paid on the power of attorney document.
  6. Agent’s Duties and Responsibilities: Once the power of attorney is registered and effective, the agent can perform tasks authorized by the document. This can include buying, selling, managing, leasing, or mortgaging the property. The agent must act in the best interests of the principal and within the scope of the granted authority.
  7. Principal’s Rights: The principal retains legal ownership of the property and has the right to revoke or modify the power of attorney at any time, as long as they are of sound mind.
  8. Limitations: It’s important to specify any limitations or restrictions in the power of attorney document to ensure that the agent’s actions align with the principal’s intentions.
  9. Termination: The power of attorney terminates upon the occurrence of specified events, such as the completion of the authorized tasks, the principal’s revocation, or the principal’s death.
  10. Record Keeping: The agent should keep detailed records of all transactions and actions taken on behalf of the principal to maintain transparency and accountability.

It’s crucial to consult legal experts when drafting and executing a property power of attorney to ensure that it complies with local laws and regulations. The principal should also carefully consider the agent’s trustworthiness and competence before granting them authority over property matters.

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