S. Singh (partner) 08 October 2013
Sir,
I want to frame a irrevocable POA regarding an property for which i have paid full amount but i do not want to register the same in my name.
from some posts in this site, i came to know that irrevocable POA is not revoked by death of doner provided some interest of donee is included in the propert covered by said POA.
please help me out how should i frame a POA to include my interest in the propert. I do not want to show that i have paid full value of property.
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 08 October 2013
An irrevocable power of attorney creating an agency, wherein the agent (the donee) has an interest in the property and which forms the subject matter of such agency created for valuable consideration, the agency cannot be terminated to the prejudice of such interest, unless there is an express contract to the contrary. It can, therefore, be inferred that an irrevocable power of attorney granted in relation to a subject matter in which the donee has an interest, cannot be revoked by the donor, nor can it be terminated by the death, unsoundness of mind or insolvency of the donor to prejudice such interest created by the donor in favour of the donee.
Member Strength 9,46,069 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
