Sale of property

Sashi Kumar (Querist) 01 September 2015 This query is : Resolved
I am a NRI and want to give a POA to my brother in India to sell our parental property.

We have decided that all the proceed will be by check no cash.

How do I protect my share of proceed from the sale once I give the POA?

What clause can I add in the POA which will protect my share?

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kavksatyanarayana (Expert) 01 September 2015
AUTHOR, YOU CAN GIVE POA TO YOU BROTHER BY ADDING A CLAUSE THAT " THE SALE AMOUNT WHICH BE PAID BY WAY CHECK, FROM THAT YOUR SHARE AMOUNT SHALL BE TRANSFERRED TO YOUR ACCOUNT. THE POA GIVEN BY YOU SHALL BE GOT VALIDATED WITHIN THREE (3) MONTHS FROM THE DATE OF RECEIPT IN INDIA.

Rajendra K Goyal (Expert) 02 September 2015
If you are of the opinion that some under the table / secrete dealing can take place, you should prefer giving POA to some of your confidential / reliable / dependable relative / friend.

T. Kalaiselvan, Advocate Online

(Expert) 06 September 2015
While including the clause of payments by cheques drawn in your favor alone can be entertained by your agent in the POA deed, you can also make clause for ratification or validation of the registered sale deed executed by your agent on your behalf which will put hold to any any misappropriation.

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