retired
[ Scorecard : 24]
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Posted On 21 April 2012 at 19:38
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My son is an NRI and had purchased a property before his coming an NRI in India. He has given me the power of attorney to sell the property and has also authorized by means of a declaration to whom it may concern that "The bank draft for the property may be issued in the name of my father". The buyer is reluctant to follow the instructions and wants to issue the draft in the name of my son who has no bank account in India at the moment. I shall pay the tax and file the income tax return to the tax authority in India. Kindly advice if this is possible.
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mamtatdave@gmail.com
[ Scorecard : 62]
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Posted On 21 April 2012 at 19:47
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if property is in your son name than it is not possible for reason now POA can not enter into sale agreement. your son have to come for registration of sale agreement
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Advocate/Legal Consultant (bharat.law06@gmail.com)
[ Scorecard : 10327]
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Posted On 21 April 2012 at 19:58
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Dear Mr.Arora,
You can definately sell the property as your son's agent via a duly notarized (by Indian Consulate in US/and registered at registrar of state where property is situtated). If the POA authorises you to - you can also recieve the draft in your name, off course on behalf of your son, there is no impediment to that.
Feel free to talk!
Total thanks : 1 times
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FIN
[ Scorecard : 10128]
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Posted On 21 April 2012 at 20:42
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Please follow the advice of Mr. Chugh.The draft of POA shall be structured to suit your needs.
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ADVOCATE
[ Scorecard : 221]
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Posted On 02 May 2012 at 00:51
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I agree with the expert advice given to by Adv. Bharat and Mr. Kumar. The POA should be SPA - after duly notarised is US, it must be ADJUDICATED in JURISDICTION DISTRICT REGISTRAR. In this SPA the detail of POWER IS SPECIFIC which shall be structured / tailored to suit individual needs ( i.e., to execute on behalf, to receive sale consideration on behalf etc., ) The buyer is ill advised here. For any more clarification & complete assistance, u can write to me on sohan1912@rediffmail.com or on 9845285555 in Bangalore.
With Warm Regards.
Mahadeva Rao G.
ADVOCATE.
BANGALORE.
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