pamaranchennai (Admin) 15 November 2011

Gpa - deed of settlement - sale

I bought a property from a registered POA holder during 2007, the POA in 1982 has got GPA from a land owner for development of flats, the POA CUM builder has agreed to develop some portion of independent house to principal and handed over to the house,remaining portion he developed flats and sold to public then paid all the amount to them .POA has done sale agreement (unregistered) with land owner that for develop the flats he wants to keep 1 flats which was unapporoved ,during 1985 land owner family has left that place by selling his independent house , now the POA does not know whereabouts of principal family, the only document he has is the orginal GPA document duly registered, till 2007 POA has not registred this property in his name and flats were assessed municipal taxes in builders name from 1987 to 2006, during 2006 POA transfered through settlement deed to his son subsequently his son sold the flat to me .Is this transaction is legal?

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K. GOPALAKRISHNAN (ADVOCATE) 16 November 2011

Dear Sir,

Disposing off the property by a Power holder for and behalf of a prinicpal is done in the normal course. However, I give the following clarification regarding the Power of Attorney.

1. For disposing off a property through a Power holder, the POA must be registered.

2. POA is valid only the Power Holder and Principal both are alive. Even one of them is not available, then the POA stands invalid.

3. Whenever, the POA is cancelled by the Prinicipal, the same has to be intimated by the Principal to the Power Holder.

4. Cancellation of POA must be registered with the Registrar Office.

5. An affidavit from the Prinicipal must be obtained stating that the POA is still in force and valid and the same has not been cancelled for the POA crossing one year of time.

6. Power Holder is authorised and empowered to deal with the property for and on behalf of the prinipcal as per the wordings of the POA.

7. Power Holder must produce (in case of flat) and deliver (in case of independent house or land) the Original Title Deed and Parent Documents to the prospective purchasers for and on behalf of the prinicipal.

Regards,

Gopalakrishnan