Daughter in Canada how can the POA be executed?
I own a flat in Pune valued at 1 Cr plus. I wish to gift it to my daughter who is a Canadian citizen. I am aware that I can execute a gift deed through PIO and that I have to pay 2 % stamp duty etc. Will she be able to sell it later (say after 5 years). Can she work on this through a Power of Attorney since it will be difficult for her to come to India often. Also, how and where the Power of Attorney should be executed?
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Answers (1)
Transfer of immovable property is possible through POA if the same is a registered one. If the Principal is a foreign citizen/resident then he/she can execute POA from his/her country of residence and get it notarized and attested from local Notary and Consulate Officer. The same then is required to be Adjudicated from local Collector. Then on its basis the attorney can get or transfer immovable property.
So in your case the POA can be executed in Canada in the above mentioned manner and then sent to India for further procedure.
So in your case the POA can be executed in Canada in the above mentioned manner and then sent to India for further procedure.
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