Poa

Querist : Anonymous (Querist) 08 August 2011 This query is : Resolved
Hi,

I need to give a POA to my wife in order to enable her-
1) Take a bank loan in my name.
2) Sign the agreement docs. for a new flat being purchased in my name.
3) Rent out property held in my name.

Can these powers be clubeed in one POA.
What denomination of stamp paper would be required for the same.
Appreciate if anyone can help me with a draft format of such GPA

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R.Ramachandran (Expert) 08 August 2011
You can combine all these items in a General Power of Attorney.
Normal stamp duty as applicable to Power of Attorney. Just because different powers have been given in the same POA, the stamp duty will not vary.

Having said this, I am afraid whether the Bank will be agreeable to lend you money on the basis of POA granted by you to your wife to borrow on your name.

prabhakar singh (Expert) 08 August 2011
i agree withExpert R.Ramachandran

ajay sethi (Expert) 08 August 2011
you can have the document prepared get it franked . no need to have a stamp paper

article 48 schdule 1 of bombay stamp act relates to power of attorney .rs 500/

i agree with experts that all these powers can be combined in one power of attorney

M/s. Y-not legal services (Expert) 09 August 2011
Am also agree with expert mr.ramachandran.

Guest (Expert) 10 August 2011
you can consult a advocate/document writer to execute the POA. better consult with the bank regarding other intrinsic details

Guest (Expert) 10 August 2011
Also search this forum in the heading of files you can have it.

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