GPA is on the name of two persons so can one sale property

kamal (Querist) 11 August 2009 This query is : Resolved
HI

I am buying an apartment through developer and GPA is on MD and director and but in GPA there is one clause that any of these two can use their attorney power at their convenience. so is it a safe to buy property if any of these two can sign sale deed?

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A V Vishal (Expert) 11 August 2009
In my opinion it is not a problem since the GPA is to the developers company represented by its officers viz the MD or the Director as the case may be authorizing them to conduct the transactions.

It is a problem if the GPA is on individual names of the MD and director, since GPA to two persons for a single property is not valid.

kamal (Querist) 11 August 2009
Hi Vishal
The GPA is on indivisual names of MD and directors but there it is clearly mentioned that either of these two can avail this power according to their convenience so is this condition not sufficent to execute sale deed by any of these two persons?

A V Vishal (Expert) 12 August 2009
Basically, No GPA can be given to two persons for the same subject property. In case of any dispute in future arising out of personal issues of the POA holders you can face legal hassles, if the GPA is held by the company in its name then it would not be a problem.

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