Purchase of property involving gpa holder who is acting on behalf of oci card holder.
Pranav Dhingra
(Querist) 15 November 2013
This query is : Resolved
Dear All,
I intend to purchase a flat in Mumbai which involves a General Power of Attorney.
The seller is living in the US & holds an American Passport. He files his tax returns in India & i am privy to his recent tax return statement.
He has issued a General Power of Attorney to his family friend in Mumbai. The Power of Attorney meets all the requirements. However the Power of Attorney empowers the holder to only execute a sale agreement on behalf of the seller i.e. The sale agreement will be stamped after payment of requisite stamp duty, sent to the US where the seller will sign the same & send it back to Mumbai where the said sale agreement will be registered in the presence of the POA holder.
I seek advice on the following queries;
1. As per Law can a sale agreement be stamped on a said date & be registered later.
2. How can i be sure that the agreement has indeed been signed by the rightful owner??
3. What are my rights & how can i safeguard my interest with regards to query no. 2?
Thanking all of you in anticipation.
-Pranav Dhingra.
Devajyoti Barman
(Expert) 15 November 2013
1.yes
2.verify with other signature and from payment memo.
3.see above
malipeddi jaggarao
(Expert) 16 November 2013
Well advised by Expert Mr.Devajyoti Barman sir.
Rajendra K Goyal
(Expert) 16 November 2013
Agree with the expert Devajyoti Barman ji, nothing more to add.
prabhakar singh
(Expert) 16 November 2013
For 2 it would be better that you insist him
to sign the document before ambassador or any official there at, of Indian embassy.
Pranav Dhingra
(Querist) 17 November 2013
Dear Mr. Barman, i did not understand the part about the payment memo. Could you pls elaborate on the same?
Thanking you in anticipation.
-Pranav Dhingra.
Pranav Dhingra
(Querist) 17 November 2013
Dear Mr. Barman, i did not understand the part about the payment memo. Could you pls elaborate on the same?
Thanking you in anticipation.
-Pranav Dhingra.
adv. rajeev ( rajoo )
(Expert) 17 November 2013
GPA should be regd., one, otherwise you cannot purchase the property thru., GPA holder.
Pranav Dhingra
(Querist) 17 November 2013
Dear Mr. Barman, In your response to Point No. 2 you had mentioned "verify signature from payment memo" Please elaborate on the same.
Further to Point No. 1, If you could pls share your opinion on the below;
1. What are the legal ramifications when a stamped document travels outside India as would be the case in this transaction.
2. Will the fact that the document was signed outside India have any impact on sale prospect should i in future decide to sell the property.
Thanking you in anticipation.
-Pranav Dhingra.
