general power of attorney

Querist : Anonymous (Querist) 12 November 2010 This query is : Resolved
R/Experts,
Please guide me on the following query.
The father is ready to execute GPA in favour of his son for the purpose to develop some portion of his open land to the extent of 5000 Sq.Mtr.The son wants to construct function hall on the said plot with the financial help of some financial institutions.The landed property is in the name of father.The question arose before son is that, Being a GPA holder can he mortgage the property for the purpose taking financial aid?
Whether the son as a gpa holder can become the owner of this proposed function hall, if no then which method he should adopt to become the owner of the said land except sale-deed? Father and son are hindu by religion.

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R.Ramachandran (Expert) 12 November 2010
The son can become the owner of the plot if father gifts the same to him [this is not a sale deed - though there will be gift deed and the stamp duty will be nominal compared to the sale deed]. Except this way there is no other method by which the son can become the owner of the plot.

Devajyoti Barman (Expert) 12 November 2010
Yes but only on behalf of his father and not under his personal capacity.
The GPA holder can never become the owner by virtue of the contract of agency unless the the same is transferred by a validly executed deed like a gift deed .

s.subramanian (Expert) 13 November 2010
I agree.

Advocate. Arunagiri (Expert) 13 November 2010
No GPA can be become the owner of the property for which he is a GPA.

The father can give a gift or settlement in favour of his son.

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