Power of Attorney - pls help

Heinrich Manoah (Querist) 10 November 2010 This query is : Resolved
My friend in USA wants to buy a land in Bangalore. She is ready to execute a GPA in my name. She also wants to get loan from the local bank for this purchase. My questions are :-
1. should i get a GPA or special power of attorney?
2. What is the procedure of getting the GPA done, as my friend is in USA?
3. Can a GPA given to me(a friend)?
4. How it can be registered in india without the presence of my friend in USA?
5. Should i get a separate GPA for availing loan amount from bank and for purchase of land?
6. Does any of you in LCI have a format of the GPA?

Thanks for your help in advance.

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Guest (Expert) 10 November 2010
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.9960223100, 9271971251
e.mail.advocatesawantnb@yahoo.com
e.mail.nandkumarbs@sify.com

YOU MAY KINDLY WRITE AND SEND DETAILS.WILL HELP YOU.
YOU MAY KINDLY NOTE THAT

YOU MAY GET THE MATTER DRAFTED WITH THE HELP OF LEGAL EXPERTS AND IN CASE IT IS POSSIBLE FOR THE LADY TO COME TO INDIA FOR SIGNING ALL NECESSARY DOCUMENTS AND ALSO AGREEMENT OF PURCHASE OF PROPERTY ENTIRE TRANSACTION CAN BE COMPLETED AT THE SAME TIME.
YOU MAY GET SEPERATE AUTHORITIES FOR SPECIFIC PURPOSES.GOOD LUCK.

s.subramanian (Expert) 10 November 2010
One comprehensive Power of Attorney Deed will be enough for purchasing the land and for availing loan facilities. She has to get the same attested with the competent official at the Indian Embassy. No registration is required for such a deed. it is valid under the Power of Attorney Act and the Indian Registration Act and Indian Stamp Act.

Devajyoti Barman (Expert) 10 November 2010
1, Either of the two will do.
2.The gpa can be executed in USA itself but the same has e notarised and attested by the Indian Consulate so that the same can be Determined from the office of the Collector for giving its effect in India.
3. Yes
4. If it is executed in the processes told by me then the property could validly be transferred by his constituted attorney in India.
5. No
6. Engage a Lawyer for this.

A V Vishal (Expert) 10 November 2010
My friend in USA wants to buy a land in Bangalore. She is ready to execute a GPA in my name. She also wants to get loan from the local bank for this purchase.

1 Are you an Indian Citizen and what is the nationality of the friend residing in the US.

1. should i get a GPA or special power of attorney?

Ans. SPA

2. What is the procedure of getting the GPA done, as my friend is in USA?

Ans: Execute a Special Power of Attorney in name of the Person who will be signing the agreements and other documents on your behalf. The Power of attorney has to be signed in front of the consular officer in the Indian Embassy of the city and country where you are located. Affixing photograph and the left thumb impression alongwith your signature is essential. You can then send the POA to India, where it has to be adjudicated. After the adjudication process, the POA is ready for use in India for buying any property.

3. Can a GPA given to me(a friend)?

Ans. Yes, however the stamp duty will be more since you are not a blood relative of the principal.

4. How it can be registered in india without the presence of my friend in USA?

Ans. Approach the loca DR for adjudication.

5. Should i get a separate GPA for availing loan amount from bank and for purchase of land?

Ans. Not required