General power of attorney

Querist : Anonymous (Querist) 09 December 2011 This query is : Resolved
Can a GPA Holder purchase the property in his individual name? if so is there any provision?

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V R SHROFF (Expert) 09 December 2011
POA must pay full stamp duty , like conveyance
Poa must be registered. sd pd

prabhakar singh (Expert) 09 December 2011
Simple ! A POA is authorized to sale by owner then as an agent of owner he can sale.

Now a POA is an individual with right to own property then as any third person he himself as an individual can buy.Hence he can execute a sale deed as an agent of owner in his own name as an independent buyer.

As an agent he is selling and as an principal individual he is buying as he is enjoying both of the capacities.

Shailesh Kr. Shah (Expert) 10 December 2011
if poa allow such.

Devajyoti Barman (Expert) 10 December 2011
Yes the point is if the agency empowers him to buy the property in his own name then he can.
Otherwise the same is voidable at the option of the principal on the ground of conflict of interest.

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