Updated on May 15, 2024Table of Contents
A power of attorney (POA) is a legal document that authorizes one person (the attorney-in-fact) to act on behalf of another person (the principal). It is a legal designation of authority granted by one person to another to act in their stead.
A power of attorney is a legal document that empowers one person to act on behalf of another. It is important to carefully consider the requirements and potential benefits and drawbacks before creating or signing a power of attorney.
What do you mean by power of attorney?
Power of attorney (POA) is a legal document that allows one person (the agent) to act on behalf of another person (the principal) in financial, legal, or personal matters.
Can a property be sold with power of attorney?
Yes, property can be sold using a power of attorney, but it must be a valid and registered POA. In India, such sales are subject to legal scrutiny, and recent rulings have limited its use for property transactions.
Does power of attorney mean ownership of property?
No, a power of attorney does not give ownership of the property. It only grants the authority to manage or sell the property on behalf of the owner.
What is the validity of power of attorney?
The validity of a power of attorney depends on the terms set within the document. It usually lasts until the principal cancels it or becomes incapacitated unless it’s a durable POA, which remains valid even if the principal is incapacitated.
Who can be a power of attorney in India?
In India, any adult with legal capacity, including family members, friends, or legal professionals, can be appointed as a power of attorney, as long as they are trusted to act in the best interest of the principal.
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