N.K.Assumi (Advocate) 02 November 2010
A wants loan from B, and B is willing to extend the loan to A provided A mortgage his immovable properties as security for the loan. But B will be going aboard for 2 years and wants C to be the mortgagee on his behalf over A's immovable property as security for the loan. In this situation who should execute the power of attorney? By B in favor of C or by A in favor of C?
Suchitra. S (Advocate) 03 November 2010
By B in favour of C coz, A does not need anyone to represent him on his behalf.
N.K.Assumi (Advocate) 03 November 2010
Dear Suchitra, that's great. Thank you for the responds in clearing my mind on this issue. I was grappling with this confusing problems.
adv. rajeev ( rajoo ) (practicing advocate) 03 November 2010
B in favour fof C because he is going abroad and his work to be done so he has to execute the PA in favour of C to get the mortage of the immovable from A
Nasir Nazir Butt (Chief Patron) 04 November 2010
B in favour of C is the correct.
prof s c pratihar (medical practitioner &legal studies) 05 November 2010
thanks to mr assumi for possessing broad mind of a teacher.
Member Strength 9,48,247 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
