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Legal implications of buying property from a power of attorney holder
03-Jun-2023 (In Property Law)
Hello, I am planning to buy a plot who belongs to person A ( who is located in US ). Person A’s mother has generic power of attorney. Its a registered But generic power of attorney. Will that be safe to buy the proerty from A’s mother ??. I will executing a registered sale deed in sub-registrars office. The sale deed will be between me and A’s mother ( A’s presence will not be there ) and I will be transferring money into her account. Is it safe ? Will i will be able to sale the property in future without any issue ?. Please help.
Dear Querist when you buy property from an NRI you need to deduct TDS of 20% else you will be liable for penalty and other proceedings under Income Tax Act.
As far as buying property of NRI is concerned through Power of Attorney Holder is concerned there is no legal impednment, however it should have the specific power of Execution and Admission and specific power to sell the property
As far as buying property of NRI is concerned through Power of Attorney Holder is concerned there is no legal impednment, however it should have the specific power of Execution and Admission and specific power to sell the property
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Adv. Jitendra Ahuja
Mumbai | 100+ Answers
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