An NRI always faces difficulties while selling property in India. Your physical presence is required for various purposes, but what can you do if you cannot visit India? This is where POA can help you.
Register power of attorney in India according to below guidance.
What is the Power of Attorney?
A “Power of Attorney” is a legal document that authorises one person to act on another’s behalf. Simply put, you can delegate some of your legal rights to a trusted individual who will act on your behalf in matters such as buying and selling property, finances, and so on.
Who can become a registered power of attorney in India?
Your blood relative can become POA in the event that you sell the property.
Non-blood relatives, such as a cousin, uncle, or aunt, can become POA, but you need to pay a stamp duty of 5% of the sale amount. Hence, it is advisable to choose blood relative.
Documents needed to sell a property through a POA
- Titles documents such as “tax receipts,” etc.
- Sale deed
What is the process for registering a power of attorney ?
- Prepare a word draft of POA
- Print the draft on an A4 size paper
- Attach your passport-size photo on the last page of POA
- Visit the consulate of India at the embassy or notary public in your country and sign at the bottom of all pages. Two witnesses need to sign the witness section.
- Courier your document to India
6. POA holder needs to adjudicate it at the sub-registrar’s office.
Now, you can use a power of attorney for property registration.
Things to note:
- The Supreme Court of India in 2011 declared that “a POA is not an instrument of transfer in regard to any right, title or interest in an immovable property.” Hence it is advisable to not to use POA while selling a property.
- The attorney holder must have good personal values.
Housewise offers NRI property management services in major Indian cities. We provide transparent and trustworthy services, which make property owners’ lives stress-free. We also provide services such as rent agreements online.