buying a property on gpa

Querist : Anonymous (Querist) 31 January 2011 This query is : Resolved
seller is an NRIin usa he is not able to come for registry and has issued a gpa through us embessy to a person not a blood relative of him for a originally alloted flat in a multi story appartment by unitech builder in gurgaon
is it safe to buy a property through gpa for registration what are the precautions to be taken please give answer on urgent basis

Follow Query

Report Abuse

Vinaya More (Expert) 31 January 2011
Dear Anonymous

First you hav to read thoroughly with the help of your local lawyer so that you can realize that the said Power of attorney is leagaly authenticated i.e wherther it is adjudicated or not as per maharashtra (Bombay stamp act)

and whether its duly registered and stamped

Second whether that person sign the document as under capacity of the owner and builder as Developer? (whether GPA is only registered power or Developer has right to sell)

And if that power is legally valid then to there is no harm to transact with the builder

Devajyoti Barman (Expert) 01 February 2011
If the GPA is propely executed and registered then the constituted attorney can buy and sell property on its strength. Before the purchase the title of the property should be propely searched to determine its marketable title. Since you stay abroad,it is advisable that after purchase through GPA, you revoke the said GPA so that the constituted attorney can not misuse it in your absence.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now