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Pawarrrrrrrr (Leaddd)     13 December 2010

Power of attorney based sale

There was a property given for development to builder using notory document (having schedule for payment and 18% interest to be paid in case deal does not complete in 18 months) and registered irrevocable power of attorney which did not have payment terms.

Later builder could not complete payments as per schedule but still he has transferred land on his name based irrevocable power of attorney from collector office. Although he has made payments (without interest) but it took 10 years against agreed 18 months.

Sale deed did not happen for the same but builder has transfered land to third party (organisation) based on irrevocable registered power of attorney(no mention of payments). Can I cancel the power of attorney which irrevocable after 10 years now and ask land property back as payment did not happen in time and meanwhile property rates have changed in multifold OR can I ask for interest which builder has not yet paid.



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