Power of Attorney information in english 2022.
A power of attorney (POA) or power of attorney is a written document authorizing a person to represent another person for any of his or her personal work, business, or any legal work (i.e. to act on his or her behalf).
What is Power of Attorney ?
According to the Power of Attorney Act 1882, POA is a legal document by which a person declares another person as his legal representative. The declared representative is called ‘agent’ and the announcer is called ‘principal’. The agent can make decisions on behalf of the principal in all its legal, financial and other matters. He can also sign an agreement against the principal. These decisions will be legally valid.
The agent business does not have to be a lawyer. However, the agent cannot make a decision outside the scope of the POA. If the principal is harmed by his decision, the agent will have to pay compensation.
A power of attorney can be drawn up to transfer ownership of real estate. POA in lieu of registry is commonly used in situations where the property owner wants to avoid going to court due to illness or other reasons or is not able to make important decisions but is mentally competent.
Types of Power of Attorney
There are two types of power of attorney based on the purpose of the work.
First, the General Power of Attorney (GPA) and second, the Special Power of Attorney (SPA).
The power of attorney given for a job is called ‘SPA’, like finalizing a deal, whereas through GPA the agent can decide on many things. The GPA holder can perform various functions such as property mortgage, sale-purchase, contract, lease, settlement.
First of all it is important to know what is registry and GPA? GPA can be given for any job. He is also known as the Power of Attorney General. The GPA gives the right to operate bank accounts and lockers, the right to buy and sell property and all other government functions.
However, the GPA can be revoked at any time and the person in whose name the GPA is created is given such cancellation notice. Also through the paper people have to be told that GPA has been canceled. There are also some GPAs that are irreversible, meaning they cannot be revoked. But in special cases such GPA can also be revoked. Similarly, there is a special power of attorney that is created for a specific purpose. The range of GPA is wide.
Validation of Power of Attorney:
A lasting power of attorney is a POA in which the principal does not remain valid after death. If the principal is no longer in a position to sign any legal document as a result of the accident, the previous POA will also expire.
The SPA is assumed to be terminated upon completion of the work. The POA can be revoked at any time by mutual consent of both the parties. It is mandatory to mention sustainable power of attorney here.
Durable power of attorney :-
A durable power of attorney is a POA in which the principal makes it clear that the POA will continue even if it is disabled. However, if the headmaster dies, his validity also ceases. In some places, a durable power of attorney is also called a healthcare attorney. Under this, the agent has the power to make important decisions regarding the principal’s medical care.
Registration of Power of Attorney:
Registration of General Power of Attorney is not mandatory. Especially when it comes to real estate. Especially when real estate is considered. Where the ‘Registration Act 1908’ is applicable, the deed is reported to the Sub-Registrar, at other places attested by a notary or administrative officer.
Must have two or more witnesses at the time of registration. After registration, the principal is called the executive and the recipient is called the GPA / SPA holder.
How to make power of attorney abroad / how to make power of attorney in us, uk, Canada:
Any property in India can be registered abroad by creating a power of attorney to deal with it. If the POA is registered outside India, it has to be approved by the District Magistrate within three months after the document arrives in India. Suppose a non-resident Indian living in the US wants to sell his ancestral property, but he does not want to come to India. In that case, he can create and notarize the POA in the US (us attorney).
Abroad, this work can be done on plain paper, not stamp paper, but it will need to be notarized. In India, it can only be made on stamp paper. To operate a POA abroad, one has to go to a notary, Indian Council or a representative of the Central Government.