What is the risk involved in buying property on Power of Attorney?
Is registry open in delhi for freehold 50 sq yard plot? This is in Gokulpur Gaon at loni border. Can I buy it basis Power Of Attorney if the registry is not happening? What is the risk of buying a property on POA?
It is important to note that, with effect from 27th April 2012, Sale of property through General Power of Attorney has been banned in Delhi, in view of the Supreme Court's judgement dated 11th October ,2011, given in the case of Suraj Lamp & Industries Pvt Ltd Vs. State of Haryana. The Supreme Court has clearly stated that sale transactions carried through GPA/POA will have no legal sanctity.
"A transfer of immovable property by way of sale can only be by a deed of conveyance (sale deed). In the absence of a deed of conveyance (duly stamped and registered as required by law), no right, title or interest in an immovable property can be transferred,"
In view of aforesaid, we do not advise you to purchase the property on POA.
Kindly contact us for any further details and action.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Mentioning case for Bail application in High Court kolkata
- How to get divorce? Husband left home without telling anything.
- How to file a case about land grabbing and need to attend the hearing?
- Can pending police complain cause problem in verification in new job
- husband beating and assaulting wife