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Shridhar Patil (Student)     14 June 2012

Friend power of attorney plus registered aggrement for sale

I want to purchase a open land property of my friend.

1. My friend has done registered aggrement to sale with owner of the open land property.

2. My friend has paid 100% full amount to the owner.

3. My friend has done a got "NOTARISED" "power of attonerney" for that open land property from the owner to make resale, take bank loan, construct house on the land.

I am doing aggrement with my friend so I can purchase half of the land property, which will happen at the same time when he is doing sale deed after 4 months from now.

I am giving a 30% amount by cheque as token amount will be mentioned in MY aggrement which I am planning to do in next week or so.

My friend has assured me that land is litigation free & no issues, which I will be also confirming once aggrement is done.

Please guide & tell me what all necessary precausions I need to take in this transaction.

Also tell me is there any need to have owner while having aggrement, as my friend has power of attorney for the same.



Learning

 3 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com))     14 June 2012

Please appreciate Your friend is still not the owner - he is a person who has right to obtain Sale Deed in his favour, hence agreement to sell is only an agreement to sell later. Hence he has no subsisting interest except to seek execution of sale deed in his favour if original owner refuses to do so. I would advise you to wait until he gets a clean title then involve your interest in the property. 

NasrineMasudha (Individual advocate)     14 June 2012

Still your friend does not have proper right of the property, though he paid full amount. so dont get involved in the property till he gets registered the property on his name

Madan Gopal Dasaur (Advocate)     15 June 2012

notarised POA is not a valid legal document for the purpose alleged ,it must be a Registered one with the Sub registrar  . I do agree With Mr Bharat Chugh advise


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