Can I buy property if owner has given special power to his relatives
17-May-2023 (In Property Law)
Hi iam planning to buy an apartment in bangalore. owner is in mumbai . for registration to be done in bangalore owner is not willing to come. he says he can send his person with special power of attorney only to complete registration process. but the complete sale amount will be received by owner and all the pages of sale deed will be signed by the owner. please suggest me can i buy with these arrangement or anything need to be changed. and also please let me know if owner gives SPA other than blood relatives what is the stamp duty to be paid and is it legally valid ??
SPA is Ok. SPA holder has only to sign the documents at every page. SPA is to be get registered at Mumbai and you have retain the Ordinal SPA. Towards Sale Payment issue Cross Cheque / Demand Draft in favour of the Original Owner. SPA can be given to any one.
If the owner willing to execute registered Special or General Power of attorney, it's fine. Regarding stamp duty for GPA or SPA, within family it may comes around Rs. 200/- plus, whereas in case of other than that of family member, it will be 5% on the guideline value of the property situated.
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