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Can I authorize anyone to collect my rentals in his bank account?
18-Sep-2023 (In Banking / Finance Law)
Hi, I would like to authorise a person to recover rentals of my premises through a registered limited power of attorney and management of maintenance expenses and book of records. I cannot give him access to my bank accounts. Can I authorise him to collect the rental in his bank account?
Hi,
You can do that and the power of attorney to be drafted so that this particular thing is included in it but if the power is to be given to a third party with you having no control over him/her, it is advisable to enter into an agreement with safeguarding clauses to protect your interests.
You can do that and the power of attorney to be drafted so that this particular thing is included in it but if the power is to be given to a third party with you having no control over him/her, it is advisable to enter into an agreement with safeguarding clauses to protect your interests.
Helpful?
10+
10+
Adv. Shobhan M P
Chennai | 100+ Answers
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Hi!
Yes yu can very well do it. It's upto you as a principal to determine the terms of your power of attorney. Just be specific with the clauses and terms on which you grant power to your agent or person whom you authorise. Make it a special power of attorney.
Yes yu can very well do it. It's upto you as a principal to determine the terms of your power of attorney. Just be specific with the clauses and terms on which you grant power to your agent or person whom you authorise. Make it a special power of attorney.
Helpful?
19+
19+
Adv. Archana Boopalan
Chennai | 25+ Answers
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