Precautions to be observed in a POA
1. Ensure that it is duly registered and the stamp duty prescribed by the State has been paid
2. Signatures and photographs of the principal and power agent must be affixed.
3. Check whether the principal has a valid title to the property and that his/her name is reflected as owner in government revenue records.
4. Verify whether a sale clause is mentioned in the POA
5. For availing loans based on a POA, check whether the power agent has the authority to sign loan documents and can create an equitable mortgage in favour of banks/financial institutions on behalf of the principal.
6. Ensure that as on the date of execution of any document based on the POA, the POA is in force and the principal is alive.
7. In case a POA is granted by a builder (private or public limited company) to their employee, ensure that a certified copy of supporting board resolution authorising the power agent is produced. In case the builder is a partnership firm, check whether all the partners have authorised in writing any specific partner or their employee to act as power agent.
8. If the POA is being executed abroad, ensure that it is either notarised or signed before Indian Consulate officials and then duly adjudicated within 120 days from the date of execution of the said POA.
9. Always check the availability of the original duly registered GPA.
10. You must also check whether the description of the property (schedule of property) is in order.
The writer is a Chennai-based advocate and author of ‘Property Registration, Land Records and Building Approval Procedures Followed in Various States in India’
Source The Hindu
This 4 BHK Independant Architect designed house is for sale. The house is Ground plus first floor. Plot area is 3150 Sq Ft and built up area is 3288 sq ft. The house also has an additional Home theater room. There are 4 bathrooms with high quality fittings. There are 2 Halls 1 Dining 1 Puja 1 Balcony. The whle house flooring is Marble. There are 2 covered car parking. The gate can be opened by remote. The bathroom showers are fitted with pressure features for good flow of water. The house is fully furnised. There is an invertor. The kitchen is Modular Kitchen. There is space available for was hing on the outside. Located close to Shopping centers schools colleges and yet a very calm and quite area.
For Sale – This 4 Bhk house is for sale. Total 2200 Sq Ft. 2 BHK in Ground FLoor and 2 BHK in First Floor. The Ground Floor is South Facing. It has a sit out. First floor : east & North entrance. There is a closed Car Parking. The house is recently completely renovated and looks like new. The house has mosquito nets, curtain rods and geyser. There is invertor provision. Siruvani water, Bore, Corporation water is available. The house is located 2 Km from Navavoor pirivu (on the way to Navavoor ) The house is within Corporation Limits.
For Rent – This 2 Bhk for rent is in Ground Floor with 1150 Sq Ft. The house is South Facing. It has a sit out. There is a closed Car Parking. The house is recently completely renovated and looks like new. The house has mosquito nets, curtain rods and geyser. There is invertor provision. Siruvani water, Bore, Corporation water
is available. The house is located 2Km from Navavoor pirivu (on the way to Navavoor ) The house is within Corporation Limits. No Brokerage for tenants
360 Property Mangement Coimbatore
+91 98947 81222
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