What is the Power of Attorney?
Power of Attorney (POA) is a legal document providing to an attorney-in-charge or legal agent the authority to act on a behalf of the principal. The attorney in-charge holds broad or limited authority to act on behalf of the principal. On the behalf of the principal agent can make a decision regarding financial matters, property and medical care.
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A power of attorney draws upon in the event, in case the principal is incapacitated by an illness or disability. In the event that the principal is unavailable to sign off on financial or legal transactions, the agent may act on behalf of the principal.
A power of attorney fails in case of Creator dies revokes it or when, it is invalidated by a court of law. A power of attorney also ends when the creator divorces a spouse charged with a power of attorney or when an agent unable to continue to accomplish outlined duties.
Types of Power of Attorney:
- General power of Attorney
- Limited or Special Power of Attorney
- Durable Power of Attorney
- Medical or Healthcare Power of Attorney
Power of Attorney Format:
Power of Attorney is governed by the powers of Attorney Act, 1888. The person who is providing the authority is known as attorney of the party fiving the authority. The person who is receiving powers is called power of attorney holder. In general there is no need of registration of Power-of-Attorney. In spite of that, if the power of attorney creates an interest in any property which cannot be move, then the Power of Attorney must be registered. Power of Attorney can be validated before a Registrar or Sub-registrar within whose district or Sub-district the principal living and in case a Power of Attorney is implemented outside of India. It can be validated by a Notary Public or any court, judge, Magistrate, Indian Counsel or via Counsel or a representative of the Central Government.
Stamp Duty for Power of Attorney:
If a General Power of Attorney is given without consideration to a father, mother, brother, sister, wife, husband, son, daughter, grandchild, granddaughter, or any other close relative, simply the registration stamp duty of Rs. 500/- is applicable. if a general power of attorney is given to someone who is not a close relative and stamp duty is calculated based on the market value of the property whichever is higher.
There is a registration cost of Rs. 100 in the stamp duty, if the power of Attorney is granted without consideration in the name of a father, mother, brother, sister, wife, husband, son, daughter, grandchild or granddaughter, or a close relative. In any other case, On the market value of the property or consideration, whichever is larger, a registration charge of Rs.10/- per Rs. 1000/- is required, with a minimum of Rs. 100/- and a maximum fee of Rs. 30,000/-.
Download Attorney Format in Word or PDF
General Power of Attorney Format:
(This is just a guide line and clients are expected to finalise their own draft as per their requirements from their Advocate)
TO ALL TO WHOM THESE PRESENTS SHALL COME
Know all men by these presents that I ……………… s/o …………….. aged ……. yrs r/o..............…………………………………., state as follows :- Whereas I am personally unable to attend to the managerial and other affairs with respect to my property ……………(Description of property)……………., so I, hereby nominate and appoint Shri/Smt……………..……………… R/o……………… as my true and lawful Attorney to act for and on my behalf and I authorize and empower him to do the following acts, deeds and things on my behalf:-
1. To cost the aforementioned property through leave and license agreement.
2. To buy the stamp, make, sign, implement and admit the execution of leave and license agreement and to appear before the sub registrar for the registration of the leave and license agreement of the aforenamed property.
3. To request, collect the rent due on the aforesaid property.
4. Managing and controlling aforementioned property, including collecting monthly rents from licenses and issuance correct stamped receipts acknowledging the rent received.
5. To submit all necessary applications, affidavits, and documents to government departments and other relevant authorities for the management of the aforementioned property, as well as to perform all other actions, deeds, and things in respect thereof.
6. To execute and carry out necessary repairs, additions, and other improvements to the said property as and when required, and to obtain all necessary permits and/or sanctions from any relevant authority in order to do so.
7. For the purpose of any essential facilities or amenities required to be provided in the building to dealing with Government departments and other urban local bodies. He can sign all papers and documents etc. for this purpose.
8. To pay all taxes, municipal levies, and any taxes that may be to pay.
9. To file any objections with Govt. departments or other local body of Government for any purpose allied with aforementioned property.
10. To provide the details of License to respective Police Station, to get No Objection from the local Police by appearing personally as and when required or called by the Police of concerned jurisdiction.
11. Attend society meeting and pay the maintenance fee.
12. To appoint any Advocate or Attorney for the purpose, and or to appear for and represent us in any courts, civil, criminal, or revenue, including labour tribunals, in any registration offices, and to present appeals in any court, and to accept service of all summons, notices, and other legal processes.
13. AND GENERALLY TO DO ALL other acts, deeds and things, which my aforesaid attorneys may consider and proper for the maintenance, service of my property.
14. This power of attorney comes with no any deliberation.
Provided, however, that the stated attorney does not sell or transfer the property's ownership to anyone. Furthermore, the said attorney shall keep accurate records of all activities carried out under this power of attorney.
I hereby agree and undertake to confirm and ratify all and whatsoever my said attorney shall do or purport to do by the virtue of this power of attorney.
IN WITNESS WHERE OF this deed is signed by me at ________on this ______day of_______
Name & Signature –
2. ATTORNEY HOLDER
“I hereby accept all the powers.
” Name & Signature –
1. ………………… Name and Address of Witness 1
2. ………………… Name and Address of Witness 2
This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not corpseed, and have not been evaluated by corpseed for accuracy, completeness, or changes in the law.
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