About Power Of Attorney
A Power of Attorney (POA) is a legal document that authorizes someone to act on behalf of another person in legal, financial, or property matters. The person granting the authority is the "Principal/Executor," and the person receiving the authority is the "Agent/Attorney" or "Attorney-in-Fact."
Also A power of attorney is a legal document that gives one person or organization the power to act for another person or organization. The person or organization who receives the authority is the agent or attorney-in-fact while the subject of the POA is the principal. A power of attorney (PoA) is governed by the Powers of Attorney Act 1888
Powers that can be delegated
- Real Estate: Buying, selling, or managing properties.
- Financial: Managing bank accounts, investments, or taxes.
- Legal: Representing in court or signing legal documents.
- Business: Managing business operations or making decisions.
Types Of Power Of Attorney
- General Power of Attorney (GPA)
- Special Power of Attorney
- Durable Power of Attorney
- Non-durable Power of Attorney
- A Special or Limited Power of Attorney
- Medical Power of Attorney
- A Springing Power of Attorney
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Frequently Asked Questions
A Power of Attorney is a legal document that allows an individual (the principal) to appoint someone else (the agent or attorney-in-fact) to make decisions on their behalf.
Generally, a document by which, a person who is himself competent to do certain acts, gives the authority to another person to perform such acts in his name and on his behalf is called Power of Attorney. In local parlance/vernacular language this is also called as kulmukhtyarpatra, Mukhtyarpatra, Mukhtyarnama, Vatmukhtyar, Aammukhtyarpatra etc. Here, the person who gives authority/rights is called as 'Principal' and the person to whom authority is given is called 'Attorney Holder'. This does not include the letter to act as Advocate (Vakilpatra).
Generally the following two kinds of Power of Attorney are used in the context of registration of document:
- General Power of Attorney:
- Conferring the authority to sell immovable property
- Conferring other rights but not the right to sell immovable property
- Special Power of Attorney conferring the authority to present executed document for registration or to give admission on behalf of person executing the document.
If the document is executed on the basis of Power of Attorney, the following papers are necessary at the time of registering that document:
- Original Power of Attorney
- True copy of the Power of Attorney
- Declaration that the Power of Attorney has not been cancelled and that the person conferring Power of Attorney has not died.
The Power of Attorney in which the executor of Power of Attorney (Principal) authorizes the Power of Attorney holder to perform any nature of activity in the context of his immovable and movable property in his name and on his behalf, that Power of Attorney is called General Power of Attorney.
If such Power of Attorney is conferred without any consideration in the name of father, mother, brother, sister, wife, husband, son, daughter, grandson, granddaughter or any near relative, then Stamp Duty of Rs. 500/- is necessary. In case of a Power of Attorney not included in the above, Stamp Duty is payable as per rate prescribed in Clause (f) for Article 48 on the market value of the property in the Power of Attorney and the consideration (If any) whichever is higher.
In order to register a Power of Attorney authorizing to sell immovable property:
- If the Power of Attorney is conferred without consideration and in the name of father, mother, brother, sister, wife, husband, son, daughter, grandson or granddaughter or a near relative as per definition in Income Tax Act, 1961, then a Registration Fee of Rs. 100/- is payable.
- In cases of Power of Attorney not falling under the above, a Registration Fee is payable at the rate of Rs.10/- per Rs. 1000/- with a minimum of Rs. 100/- and maximum fee of Rs. 30,000/- on the market value of property in the Power of Attorney or the consideration (if any), whichever higher.
As per clause (h) newly introduced in Section 17 of The Registration Act 1908, with effect from 01/04/2013, for a Power of Attorney authorizing to sell immovable property executed on or after 01/04/2013 registration is compulsory.
If a Power of Attorney authorizing to sell immovable property is executed before 01/04/2013 is not registered, it is considered acceptable for registration of document executed on its basis. However, it is necessary to have the payable Stamp Duty paid at the time of execution of the Power of Attorney. Similarly, it is also necessary to have it executed before and attested Competent Authority (like Notary). If a Power of Attorney executed in India on or after 01/04/2013 is not registered, then it is not considered acceptable for registration of document executed on its basis.
Since it is binding on the Power of Attorney holder to use Power of Attorney after verifying all the facts like, that the principal of Power of Attorney (person conferring Power of Attorney) has not died or the said principal has not cancelled it or the Power of Attorney is not cancelled for any other reason, while registering a document on the basis of Power of Attorney the Power of Attorney holder has to sign a declaration that he has verified all these facts and such signed declaration has to be attached to the document.