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Brother lives abroad wants to sell his property to another brother
07-Mar-2023 (In Property Law)
I am POA of my brothers flat, now he is looking to sell the flat and I am re buy.He does not lives in India , so I maintain the property. If I take a home loan , will I need to register the property? As I am only the one who did all paper works for this property initially. So I only signed all documents at time of registration etc etc as POA. my questions - Will bank require registration papers before releasing loan to me - Can I as a POA do all the process as by this my brother wont have to co - Whats the best way to go for it, I need the property and he wants to sell, Is there a way where my brother can simply transfer the property on my name and I get home loan too for the same property ?
You as a Power of Attorney holder do have the right to look into the affairs of the house but cannot use it to sell it to your own self. You may sell it to any one else or get the Power of Attorney revoked and then proceed. Your brother can execute a fresh power of attorney and you can get it registered here in someone else's name. After that you may apply for a home loan and buy the house.
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Adv. Siddharth Krishna Dwivedi
Ghaziabad | 25+ Answers
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