Irrevocable POA can be executed in favour of family member
in cases where a document creates a power coupled with interest it would be irrevocable
Can irrevocable power of attorney be executed by a family member? What are the conditions? Or any type of power of attorney is there which can be terminated only after a specific term period or when both d parties agree?
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If a person wants to transfer all his property including his PF gratuity to someone else, can legal heirs claim for property legally?
Irrevocable POA can be executed in favour of family member
in cases where a document creates a power coupled with interest it would be irrevocable
- Yes, it can be executed by a family member for a specific work
- That POA should clearly mention that it is given limited to specific work and after performing the said work this POA revoked and will have no value in the eye of law.
- If that property is self acquired property of that person , then he can transfer all his property including his PF to any person , then none can claim over the same
An irrevocable power of attorney is a document used in some business transactions. Durable powers of attorney are typically given to give someone the authority to make decisions on your behalf in the event of an accident.
post the SC verdict, the POA becomes irrevocable when it is coupled with registered agreement to Sell, and consideration paid in the Sale Agreement.
A power of attorney, depending upon the clauses of the deed executed, may be –
A Power of Attorney shall not be deemed to be an irrevocable one merely because it states, in the clauses of the deed executed for grant of such Power of Attorney, of it being irrevocable. Such Power of Attorney may be revoked by the principal or the Power of Attorney holder by the procedure according to law.
Section 202 of the Indian Contract Act, 1872 reads as:
“Where the agent has himself an interest in the property which forms the subject matter of the agency, the agency cannot, in the absence of an express contract, be terminated to the prejudice of such interest.”
Therefore, by virtue of this section, a power of attorney can not be revoked by the principal without the consent of the agent if the agent has an interest in the subject matter of the Power of Attorney. Moreover, such Power of Attorney is not deemed to revoked even after death or insanity of the principal.
If the person desirous of transferring hi property to any person of his choice, he should first have clear and marketable title to the immovable property.
He can then transfer the property either by a registered sale deed or a gift deed or by a Will.
If he wants to transfer the accumulated amount in the PF account, he can withdraw the same and can transfer it to the person of his choice by a gift deed also.
The question of a claim by his legal heirs can come only after the death of the person owing the property, but if had already transferred them during his lifetime then the legal heirs my not be eligible to claim any share in it as a right.
1. Yes it can be done.
2. Where an agreement is entered into on a sufficient consideration, whereby an authority is given for the purpose of securing some benefit to the agent/donee of the authority, such an authority is irrevocable.
3. The owner of a property, movable or immovable, has no fetters on his right to transfer it to anyone he desires. The legal heirs cannot claim it if the transfer has been done in accordance with law.
Can be done by means of a will.
Nobody's claim including that of legal heirs will sustain post you draw your will.
Dear Madam/Sir,
1. No, there is no provision currently governing the irrevocable power of attorney (POA).
2. POA is revocable like any other contract. POA creates an agency governed by Indian Contract Act. POA is terminated in case the principal or the agent (attorney) dies.
3. Where a POA is given for valuable consideration, and expressed to be irrevocable or is given to secure the interests of the donee in the subject matter of the property, then, so long as the donee has the interest, the power is irrevocable. Without authority being coupled with interest, just by declaring power to be irrevocable, does not make the POA irrevocable.
4. POA would not be terminated, even when after death of person who has authorised, where there is no express contract for termination. Therefore, legal heirs cannot claim for property legally.
Thank you,
1.Question is not clear. POA for what?
2. Power of Attorney can be executed in favour of a family member for doing specific jobs like filing a case where the plaintiff is unable to move due to ailment/old age etc.
3. In case of executing POA in favour of developer in a joint venture agreement where the developer shall have to spend some money, there will be irrevocable POA.
1. He shall have to create legal papers confirming his such wish to transfer his properties in favour of a particular person.
2. He can either register a will or register a conditional gift deed in connection with his present properties with the condition that the owner of the immovable properties will reside therein for his life time.