Hi, I am purchasing a resale flat in Bangalore. My home loan has been approved and the registration is planned in next 10 days. Today the owner son called to inform that her mom (owner) won't be travelling for the registration instead he would come down to bangalore as he has the registered power of attorney (done in maharashtra). Please help with below query - 1. Will it be safe to go through PoA? 2. Will the PoA document suffice or any additional document required? 3. Since the bank has approved without any PoA consideration will there be any issue down the line? Thanks in advance.
1. Yes but get this POA checked by your advocate. It msut be a registered one and for the purpose of selling her property.
2. N additional stamp duty for this.
3. Issue. bank requires to approve this POA first before allowing her son to represent the actual owner.
It is safe
2) mother can execute registered specific POA in favour of son to sell the flat
3) inform the bank it should not create any problems
1. Since the POA is a registered one, there should not be any problem, if the Principal is alive on the date of registration.
2. In addition to the POA, Aadhar Card, PAN card, Khatha Certificate, Khatha Extract, latest Tax paid receipt are necessary.
3. Since the bank has approved the home loan without POA, please update it with the Bank authorities.
4. For your own safety, get the property papers vetted by any Lawyer, before proceeding further.
Dear Client,
Yes, it is not dangerous to go ahead with the registration using the Power of Attorney (POA) as long as it has been executed and registered. The owner and the POA document holder has to be same in the case of identification where the owner’s son has to produce the original POA document which has to be notarized and registered. The following documents will acting as a registration document, but it will be advisable that the original property document, the identification document of the owner and his/her attorney and any other document that will establish the ownership and legal representation. Since the bank gave you a go ahead to secure the loan without factoring the POA there should not be a problem as long as the POA is genuine. However, specific notice needs to be given to the bank in regard to the POA so as to fend off any future difficulties. It is also important that legal advice is sought so as to ensure the legal requirements are also met.
Hope you find this answer suitable for resolving you query.
1. The power of attorney deed should have been executed by a registered deed.
The POA deed should clearly authorise the power agent to sell/alienate the property property in the manner prescribed in the deed.
The particulars of property should be mentioned in the POA deed.
Get it vetted by a local lawyer for its genuineness.
2. The property related documents to be attached.
3. The bank lawyer will certainly raise an objection because the seller is changed.
1. Since, the said POA is registered in the name of her son , then he can execute sale deed in your name on his mothers behalf.
2. Only witnesses required now
3. No, as the bank will collect the sale deed after the registration in your name
If the poa is duly signed before and attested by the jurisdictional sub registrar (having jurisdiction over the place where the principal/grantor resides), then there would be no issue
A notarized poa will not do
Only a poa attested by the jurisdictional sub registrar is permissible for registering the document on behalf of the seller /vendor
