Slum property conveyance and power of attorney


Dear Sir

We are in agreement with a builder for our property which is slum declared.

Now the deal is he has offered us a part amount and a Flat in the saleable building which will be constucted under SRA scheme.

Now he has sent the papers to be signed which consists of a conveyance deed and a power of attorney which is irrevocable.

The conveyance deed clearly mentions the amount he is giving now and the flat that he would give when the building is contructed. Just want to know if we can go ahead with such a deal and sign the papers?

The power of attorney gives him all the rights to apply with various authority and is irrevocable.

Incase for some odd reasons if he is not able to construct the saleable building and give us the flat would we have any legal right to fight back for our property as he has failed on his promised committment?

Please guide me.

Thank you

RCR

 
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Advocate

Pl pay attention to the contents of the irrevocable power of attorney. If it pertains only to seek sanction from various authorities related to the construction of the said flat- then there is no problem if you sign the said irrevocable power of attorney.

However, if he fails to build the flat as per the agreed terms and conditions , you have all legal rights to seek appropriate relief through courts. Pl make sure the conveyance deed and the POA are registeres with the sub registrar's office as you are dealing with immovable property.


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Dear Vishnu Sir,

Thank you for your reply . In the Power of Attorney he seems to have mentioned all the rights to enter the propert, apply to various authority, to put up his board, to demolish existing sturctures as well as constructing new structures. What we would only have in our favour would be the Conveyance deed where it is mentioned that he would give us the flat. would that be enough?

Please guide, as your reply would enable me to take this integral step.

Thanking you

Regards

RCR

 
Reply   
 
Advocate

Since a flat is an immovable property, it must be compulsarily registered under registration act. If your conveyance deed is registered with the sub- registrar's office, I don't see any problem in you giving the builder an irrevocable power of attorney

 
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