Issue of power of attorney
Nehal
(Querist) 17 June 2009
This query is : Resolved
Dear All
I need clarification on following points with regard to issue of power of attorney:
1. Can one person issue a single power of attorney in favour of two or more persons with respect to the same property so that in case of non availability of one of the attorney holders, the other holder can do the transaction OR is the giving of power in favour of one or more persons for the same property invalid?
2. Also if a person is giving a power of attorney to his brother/s, then what is the amount of stamp duty payable for the said purpose?
3. If the power is given for dealing with two or more properties and other business aspects also, then how much stamp duty would be payable?
Nehal Shah
sanjeev murthy desai
(Expert) 17 June 2009
Dear Nehal
1. Yes it is valid document.
2. Stamp duty in Karnataka 100 Rs only (with in the family members).. but Every states has different stamp duty in this regard.
3. With in the family members of the Power of Attorny 100 Rs stamp duty is enough in respect of many properties.
sanjeev desai
Nehal
(Querist) 17 June 2009
Mr. Sanjeev
Thank you for your reply. Reg. pt. 1, I had recd. opinions that one person cannot issue power of attorney in favour of many as there may be question of validity of transaction if all of them use the POA for the different transactions in respect of that property.
Kindly clarify if this could create a legal problem. In my case, the executant has trust that all 3 of them will not use the deed at the same time. Therefore, if legally there is no problem, I wanted to confirm if three people could be empowered by same POA.
Thanks and Regards
Nehal
Nehal
(Querist) 17 June 2009
Mr. Sanjeev
Thank you for your reply. Reg. pt. 1, I had recd. opinions that one person cannot issue power of attorney in favour of many as there may be question of validity of transaction if all of them use the POA for the different transactions in respect of that property.
Kindly clarify if this could create a legal problem. In my case, the executant has trust that all 3 of them will not use the deed at the same time. Therefore, if legally there is no problem, I wanted to confirm if three people could be empowered by same POA.
Thanks and Regards
Nehal
adv. rajeev ( rajoo )
(Expert) 17 June 2009
A person cannot exeucte the PA infavour two or more persons in respect of the same work. I agree with Sanjeev regarding other points
Kiran Kumar
(Expert) 17 June 2009
for one property two separate POAs can not be made.
closeness of relationship does not determine the amount of court fee has to be affixed.
generally Rs. 100 stamp fee is enough but it varies according to state.
u ll ve to appoint just a single person to be a valid POA.
all the acts to be done by POA must be specifically mentioned.
Manish Singh
(Expert) 17 June 2009
dear all,
we must discuss one issue concerning the matter- the powers of attorney act nowhere restrict powers to be given to more than one person.
as per my view, apart from moral grounds including cheating, fraud etc., a prson is not restricted to issue powers to more than one person in connection with the same property.
Nehal
(Querist) 18 June 2009
Thank you all for your views.
Nehal
PALNITKAR V.V.
(Expert) 27 June 2009
a person can issue POA in favour of multiple persons.The thing is that it should be clarified as to how all those persons are supposed to act? There should not be ambiguity or inconsistency.Secondly, the Stamp duty rules differ from state to state. In maharashtra, if the POA gives authority to transfer property and register a sale deed, duty has to be paid according to valuation of the property.
