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Power Of Attorney-All You Need To Know About Poa

  • Definition
  • General POA
  • Special POA
  • Medical POA
  • POA signed abroad
  • POA registration

What Is Power Of Attorney And Where It Can Be Used?

A Power of Attorney (POA) is a legal document authorizing one party (agent) to act on behalf of other party (principal) for certain period of time or as described. The Principal can provide agent with wide-ranging and absolute legal authority to take decisions in terms of his property, investment, business transaction or medical care or can provide him with limited authority only with respect to certain matter. It is basically used in the events where the principal is not able to be present to sign certain important legal documents for financial transactions.

Who Can Use Poa?

POA can be used in event of illness or disability of any person or if principal is not able to be present every time to sign or execute document. It is also used by NRIs to manage their property in India by authorizing any other person to act on his behalf in his absence. POA helps in decision making in the absence of true owner so helps to reduce security concerns as well in case of some business/commercial transaction, it is not feasible for principal every time to be present in every transaction so in that case executing POA is best option.

What Are Various Types Of Poa?

  • General POA: It is one of the important types of POA that authorizes principal to give absolute powers to the agent in respect of his property, investment, business transaction or medical care and allow him to handle all affairs on behalf of Principal. This type of POA is sparely used by Principal as it grants absolute power to Agent that can also be misused by Agent.
  • Special Power of Attorney: In contrast to General POA, Special POA grants restricted/limited power to Agent to handle affairs on behalf of Principal. This type of POA is predominantly used by Principal as limited powers are assigned to Agent and there is less chance of abuse of power by agent.
  • Medical Power of Attorney: It is a POA in which Principal authorizes Agent to make decisions on his behalf in respect of medical treatment. Principal basically gives right to Agent to choose the kind of medical treatment he wants to have if he falls severely ill and is not in condition to take any decision and to give his consent. So in that case Agent takes decision on his behalf.

What Are Important Components For Valid Power Of Atorney?

  • Both Principal and Agent must be competent to execute POA.
  • Any person who is minor cannot execute and grant POA
  • POA should be executed for legal purpose only
  • POA is considered to be valid if it is duly stamped, notarized or adjudicated.
  • POA which is executed abroad and authenticated by an Indian Embassy needs to be stamped and adjudicated within three months after receiving in India.

What are the services Lawyerinc offers for Power of Attorney (POA)?

Our services:

Our comprehensive range of end-to-end solutions includes following:

  • End to end services for POA drafting and registration.
  • We have expertise in drafting and help you to execute POA.
  • We will get in touch with you through renounced lawyers in this field.
  • Free consultation for any enquiry that you may have about POA.
  • POA would be drafted by us and we will get it registered.
  • You will get your POA drafted and registered without any hassles.

*Any fee, stamp duty and miscellaneous charges shall be payable extra.

Do contact us in case of any query related POA drafting and registration and much more. To avail any of the above-stated services, kindly establish contact by posting a query at our site.

Is Poa Signed By Nri Abroad Is Valid?

Yes, POA signed and executed by person living abroad is valid. If a person living abroad is willing to purchase, sell or rent out a property based in India, it is difficult for him to visit India for such transactions or to attend the sub-registrar office in person to get the documents registered; he can authorize any person on his behalf by executing the power of attorney. By POA, he can appoint any of his friend, family member or his Attorney to act as his agent/attorney and get his documents registered in the registrar office for the transfer of property and the registration of property.

Can Poa Signed By Person Living Abroad Be Executed Outside India?

That as per provision of Section 14 of Notaries Act, 1952, Central Government is authorized to recognize notarizations and executions of POA done in other countries. So if any person who stays outside India and unable to visit here in near future, so he can execute POA from India through Indian embassy.

How Can You Get Your Poa Attested Through Indian Embassy?

  • That POA can be written on plain paper by describing all the terms and conditions of POA. POA which are executed outside India doesn’t require Indian Stamp Paper. But principal needs to be careful while assigning powers and defining terms and conditions of POA, as the same can be misused by Agent.
  • Party need to submit two copies of the POA document before consular officer.
  • POA needs to be signed and attested before the embassy officer.
  • POA needs to be signed and attested by two witnesses.

What Are Various Documents Required For Attesting Poa By Indian Embassy?

  • Two signed copies of Power of Attorney along with original one.
  • Party requires original passport and copies of all filled pages of passport including first and last page.
  • Party need to submit copy of present Address proof.
  • Party also needs to submit its visa or proof of legal residence in the country
  • Two passport size photographs are required.
  • Party also needs to pay prescribed fee at the time of attestation.
  • Witnesses also need to submit their proof of identity and also need to sign POA at the time of attestation.

Is It Mandatory To Register Poa?

As per laws prescribed in India, it is not mandatory to register POA but where the POA is related to the transfer of immovable property or where it is required to give possession to attorney holder then it is advisable to register POA for more authenticity. Registered POAs are considered as legitimate and has given more authenticity in the eyes of law. If there is any dispute with respect to the property or probate in future, law gives registered POAs for privilege.

Are There Any Consequesnces If I Don’t Pay Stamp Duty?

Yes, as the payment of stamp duty in case of POA is prescribed under Section 48 of Indian Stamp Act so if stamp duty is not paid the POA would not be submitted as evidence before any legal/public authority in India who is capable of admitting evidence. As well, the said POA could be seized by the said authority and that would be released on payment of prescribed stamp duty only and the said POA can only be allowed to submit as evidence after paying penal stamp duty 10 times the value of the original stamp duty amount to be paid.

Frequently Asked Questions

  • 1. I just want to assign only limited financial power through POA in my absence. Can I do that?

    Yes, you can authorize to make any or all of your financial decisions through POA such as with respect to banking transaction, real estate, accounts, insurance, etc. You can decide which powers you want to grant through POA with one significant exception.

  • 2. Can I grant POA to my minor son?

    No, you can authorize any competent adult person through power of attorney to act on his behalf. However, you need to be careful while selecting anyone as he might misuse the powers given to him. So it is always recommended to choose any trustworthy person for the same.

  • 3. Can the person to whom i granted the power of attorney change the Will executed?

    No. a Will already executed cannot be altered by agent who is authorized by POA, even the lawyer having authority through POA cannot change the Will.

  • 4. For how long can I give POA?

    POA should generally be given for limited period only to avoid its misuse by agent. So time period should be specifically mentioned by POA that can be renewed as per principal’s requirement.

  • 5. Why to get Power of Attorney drafted and executed through lawyerinc?

    Lawyerinc is a complete blend of professionals from across the globe. In –house team of lawyers and attorneys, CA, CS. All professional work together in Lawyerinc, providing you end to end solution. It guarantees delivery in the shortest and most reasonable rate in India. It enjoys a global presence.

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