level of ownership I will have with a GPA

518 votes

Thank you for your question.
I understand that you wish to know what would be the best method of transfer of property from your aunt to your wife and yourself. And if executing a General Power of Attorney be advisable for such purpose.
As regards the option of execution of General Power of Attorney, it gives you rights with respect to the property only to the extent provided in the deed. It will never provide you ownership rights. Also it will not be an admissible document for proving ownership wherever a legal document is required.
In that background, it is advised that you do not opt for this route and instead get a normal registration done.
In case you wish to know the procedure of a transfer and need any assistance, please feel free to contact us.
Regards.

Advocate Bhoomika Choudhury LawRato

699 votes

You can do GPA only if it is in blood relationship and if you want a permanent ownership then you may go for a Sale Deed registration or Gift deed registration alongwith Stamp Duty.
For further assistance you may contact us.

Advocate Parveen Arya LawRato

724 votes

GPA gives the agent broad powers to act on behalf of the principal. It covers more than one subject matter and normally gives the agent the right to conduct financial and legal affairs on behalf of the principal, including the right to buy and sell property, liquidate bank accounts and so on. It may be pointed out that a PoA is not an instrument of transfer with regard to any right, title or interest in an immovable property. Even an irrevocable PoA does not have the effect of transferring title to the grantee. An attorney holder may, however, execute a deed of conveyance in exercise of the power granted under the PoA and convey title on behalf of the grantor.

LawRato LawRato