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If buyer and seller are same. Will it amount to a valid transaction?
06-May-2023 (In Property Law)
Can the Seller and the Buyer be the same person in a property transaction? I am buying a property from someone who first purchased some agricultural land on Power of Attorney and later sold it to himself and got it registered.
Is this a valid legal transaction? If yes, under what legal act will this be passed?
When a person signs as a Power of Attorney Holder, then he is basically signing the Agreement on behalf of someone else who has authorized him to do so. Yes, seller and buyer can be the same.
Therefore, the buyer and the seller are not the same in this case. As you have stated that this person had purchased the land on POA i.e. on behalf of someone and thereafter he purchased the said land himself. This is valid, however you need to make sure that he was authorized to sell the land to himself or not.
The POA cannot exceed his authority as mentioned in the POA. So in case he is authorized to sell the land to himself then the transaction is valid.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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