Power of attorney and real estate now that we have seen what is power of attorney and the legal process behind it.
Power of attorney for property sale in maharashtra.
Special power of attorney for sale.
According to article 48 of the maharashtra stamp act the stamp duty payable on a poa not being a proxy when authorizing to sell or transfer immovable property without consideration or without.
No property sale on power of attorney.
General power of attorney special power of attorney poa or p o a financial power of attorney limited power of attorney medical power of attorney durable power of attorney etc.
Registration maharashtra amendment act 2010.
Deed of re conveyance of mortgaged property.
A special or limited power of attorney is a different kind of non durable power of attorney used in states like california for real estate transactions when the seller can t be present due to absence or illness.
When it comes to buying or selling a property power of attorney is not a valid instrument to transfer property titles.
Supreme court property sales through the common practice of general power of attorney gpa will not give ownership title to the buyer.
Power of attorney to transfer immovable property.
At this time your simple power of attorney becomes registered power of attorney.
The amendment of the registration maharashtra act 1908 resulted in the changing of section 17 of the registration act which now mandates the registration of the power of attorney authorised for the purpose of sale or transference of immovable property.
Because it s limited in both time and scope it s a great tool when you want to give someone a very specific responsibility.
A special power of attorney for sale of property can be drafted and printed on a plain paper since it is a compulsorily registrable document under the indian registration act 1908.
Therefore the stamp duty shall be collected in the prescribed format and embossed on the paper while registering the same before the concerned sub registrar.
For the last decade laws relating to power of attorney have undergone substantial changes whereby the government has brought in several restrictions on the use thereof so far as it relates to sale of immoveable properties.
Sale deed an agreement for sale etc.
Deed of english mortgage.
Special power of attorney for admitting execution.
General power of attorney.
500 if the power of attorney given to a near relative authorizing to sell or transfer immovable property without consideration or without showing any consideration.
Special power of attorney for litigation.
Power of attorney also known by following names these name also shows the nature of the poa.
In any other cases the stamp duty will be applicable as per the stamp duty of conveyance deed eg.
