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Settlement deed and Power of Attorney


19-Jun-2023 (In Property Law)
Dear sir, We are in process of selling our ancestral land where 75 percent ownership is with my father and 25 percent with my 4 paternal aunts. This ratio is recorded in a notarized agreement signed by all. I am given to understand that this agreement doesn't hold valid in court of law and one property settlement deed needs to be drawn and signed upon by all 5. In the process of selling my aunts want to give PoA to my father as they can't be present atthe time of transaction. Now my question is that whether settlement deed itself include terms that grant power to my father to avoid payment of stamp duty twice. As in both cases stamp duty is payable.
Answers (2)

Answer #1
931 votes
There will be a family agreement. Your father can take the power of attorney to decide the terms and conditions and hire the lawyer etc. But for registration all the aunts have to come because the registration process is computerised now a days.
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Advocate Asha Bhuta

Adv. Asha Bhuta

LawRato Mumbai | 50+ Answers
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Answer #2
998 votes
Dear Querist, you can always have a memorandum of settlement and family arrangement between your aunts and father. Ask them to sign it. With respect to power ask them to authorize only for registration then stamp duty on power would be 500/- only
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Advocate Rakesh Misar

Adv. Rakesh Misar

LawRatoMumbai | 200+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

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