VV1 (a) 31 October 2012

Land sale by poa

Hello Experts please help.

I propose to sell my land. A person has approached me to buy the land, but later i found he was a builder. He is interested in builind flats in the land but not interested in registering the sale deed with Me , but is asking for a POA from me and says he will make full payment and there are no issues. (he says most builders only get a POA for constructing flats)

Please let me know, is it safe to do get payment and execute POA in his favour without registrering the sale deed. Will there be any legal/tax issues by this method.

Thanks

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3 Replies

Varun Desai (Advocate) 31 October 2012

Hi,

You can execute a POA its safe only its normal practice and there is no legal hurdle doing this

K. GOPALAKRISHNAN (ADVOCATE) 31 October 2012

POA can be given along with possession and I would suggest that the same will more safe.

Rgds

Gopal

VV1 (a) 02 November 2012

Sir, I am not clear as to what 'POA along with Possession' means. does this require the POA should be registered in the Subregistrar Office. The builder is asking only POA and not interested in buying using Registration method. Thanks. Venkatesan