Change in ownership
Vee kay kapoor
(Querist) 04 July 2017
This query is : Resolved
1. The property in question is a CGHS flat at Gurgaon and in the name of my brother.
2. Entire purchase price was paid out of the sale proceeds of the flat which was in the name of my mother who has expired two years back.
3. I have paid substantial amount to my brother to clear his dues from private lenders.
4. My brother's share in the property is equal to the money I have paid to him.
5. For the purpose settling the share in the property, my brother has executed a GPA in my name for putting property on rent or sell etc.
My query: 1. Whether on the basis of this GPA I can sell the property?
2. Whether I can receive sale proceeds in my name?
3. Do I have to transfer the property in my name in Registrar Office and HUDA and Society Records?
4. For completing above transfer, is it OK to mention family settlement as reason for such transfer?
Request the learned experts on property matters to clarify.
Regards.
Kumar Doab
(Expert) 04 July 2017
Generically speaking; if principle has vested power to sell in agent by a valid/registered POA then agent can sell.
Show the said POA to a very able local senior counsel of unshakable repute and integrity specializing in property/civil matters.
kavksatyanarayana
(Expert) 04 July 2017
Yes. Agreed with the advise of senior expert Mr. kumar doab sir. and if you want to retain the house in your name you can get it by relinquishment deed from your brother.
Kumar Doab
(Expert) 04 July 2017
Thanks for agreeing Mr. kavksatyanarayana.
Kumar Doab
(Expert) 04 July 2017
The agent has a responsibility to maintain the trust of principle.
Rajendra K Goyal
(Expert) 05 July 2017
POA and all other documents need to be referred, discuss with some known expert lawyer.
Kumar Doab
(Expert) 05 July 2017
For the contentious issues and also for in person advise spend some quality time with a very able local senior counsel specializing in such/civil matters for a considered opinion.
Kumar Doab
(Expert) 07 July 2017
Thanks for agreeing Mr. Suneel Moudgil.
