___Raja___ (x) 25 September 2009

Requirement of a registered power of attorney

If the buyer has a power of attorney issued by the bank (for loan purposes) which also entitles him to register the property on behalf of someone will that be enough or it is mandatory to have a registered power of attorney (with sub-registrar). In case it is not possible to make the registered power of attorney at this point of time what other option does the buyer have in case he wants to go ahead with buying a resale property on someones behalf?

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4 Replies

R.R. KRISHNAA (Legal Manager) 25 September 2009

No need to register. You can notarise it.

___Raja___ (x) 25 September 2009

Thanks for the reply. The bank has done the franking of the POA (in bank format) for Rs. 500. There is a notory stamp on it too. Is this what you mean by notorised? The loan agent informed me that in order to do the registration of the property, earlier this POA could be used, but according to the latest laws, we need a sub-registrar registered POA. I cant make that now since the person who had given the POA to me is not in town.

Please advise whether I can go ahead with registration in this case

P.K.Haridasan (Advocate) 09 October 2009

Whenever any right is created on an immovable property worth more than Rs. 100/-,and a power of attorney is made for that purpose, the power of attorney has to be registered with sub registrar.

P K HARIDASAN

Legal Professional

___Raja___ (x) 09 October 2009

Thanks for the reply Mr. Haridasan.

I do not have a registered POA. Is there any way I can now buy a resale property on someone's behalf. If there is any other workaround to the issue please advise.

Thanks.