Power of attorney


Mr. X having the two son say Mr. A  and Mr. B.

Mr. X, Mr. A and Mr. B, has filed an application for housing scheme in Gujarat Housing Board (GHB) in the name of Mr. X of Rs. 20 lacs

GHB has allotted the MIG I house to Mr. X(owner of Property) with a condition that:-

“The property will Not be transferred to other person up to a period of 5 years from the date of possession”

The above condition is also specified in property document

Payment details are as under:-

Sr. No.

Particulars

Amount

Note

1

20 % of 20 lacs

400000

Paid my Mr. X

2

80% of 20 Lacs

1600000

Paid through bank Loan in the name of Mr. X and Mr. A

3

Stame paper

100000

Paid by Mr.B

4

Society Maintenance

100000

Paid by Mr. A

 

Now, 1.5 year has been passed from the date of possession.

 

Now Mr. X(The Father),  has decided to transfer the said property to  one of their son that is Mr. A or Mr. B with a consider as under:-

  1. New owner (one of the Son) has to take over the entire loan, which is something about 15 lacs, and
  2. Has to pay 5 lacs to other person( the Second son) in cash or bank

 

 

Questions

  1. Whether said property can be transfer through “power of attorney”   before completion of 5 year with consideration details and sales deed will be executed after completion of 5 Year? (also suggest point to be taken care now(while making power of attorney) to avoid any conflict at the time of executing the sales deed) ?
  1. After Registered POA, cam Mr. X has any right to sale the property?

 

  1. Is there any other way for Mr. x to transfer the said property to one of their son through sale deed before completion of 5 year?
 
Reply   
 
subregistrar/supdt.(retired)

Dear queriest, it is not a legal query.  However for your points,  (1) No. (2) If the Principal/owner executes POA, he can sell the property directly without POA agent. and (3) No.

 
Reply   
 


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