General Power of Attorney - Legal consequences.

Sajid (Querist) 21 July 2011 This query is : Resolved
Sir,
1.If we purchase the property with GP registered. And When we sell the property in future what is the legal consequence arises to sell the property.

Is it right to purchased the property in GP? without doing the sale deed.

Please give the details.

2.If we purchased the property in GP, Can we go to sell the property in GP? or opt to sell the property by Sale Deed only.
3. In practice generally, the buyer ask to get the signature of original property holder, not the GP holder, why?
Please differentiate the Property Holder and GP Holder.

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Devajyoti Barman (Expert) 21 July 2011
Nothing , you can the sell the property at any time.

However before purchase just get ensured that the GP is not being revoked in the meanwhile.

kaushal kishore sanadhaya (Expert) 21 July 2011
generaly, practice to sell of property through g p is a way to save registration amount.before purchase you keep in mind the advice of expert devajyoti barman.

N. AKSHAY BERI (Expert) 21 July 2011
TRANSACTION THROUGH GPA IS DOWN ONLY TO AVIOD PAYMENT OF STAMP DUTY ON THE SAME.
THOUGH IT IS VALID AND YOU CAN PURCHSE AND SELL THE PROPERT BUT FIRST CONFIRM THT THE GPA HAS NOT BEEN REVOKED.

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