ADVOCATE ROHIT DALMIA & ASSOCIATES

 ROHIT DALMIA

 18 Years Exp

 General Power of Attorney (Show More)

 Mumbai , Borivali

 View Answers by this Partner (1)

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Information

Overview

Where the principal authorises the Attorney to do certain general acts on his behalf. The word "General" here means that the power must be general regarding the subject matter and not general with regard to powers in respect of a subject matter.

Either you can give a GPA for all your properties, banking transactions, tax matters, registration, legal disputes and court matters etc. Or you can give a general power to any one category like only for all property matters or only for all Banking processes etc. This type of Power is very wide and has lot of risk if the Attorney is not a trustworthy person.

General Power of Attorney is executed by a person in favour of another to act on behalf of him generally. It may include management of property, Court matter/litigations, sale of mortgage of property or any other act.

A person who has attained majority may execute power of attorney in favour of another person who has attained majority including family members like brother, sister, father and mother to act on his behalf. If a power of attorney is executed to sell property in favour of relatives other than those mentioned above, 2 percent stamp duty shall be paid on market value of such property.

If a power of attorney is executed in favour of developers, Builders of apartment, 4 percent stamp duty shall be paid on market value of such property. (see article 5(f) & 41(a), 41(ea), Schedule to Karnataka Stamp Act 1957).

a.GPA automatically gets cancelled on the death of Executant.

b. Principal (Executant) may cancel it any time.

If the Power of attorney is executed for consideration in respect of property it cannot be unilaterally revoked, prejudicial to the interest of the agent (See Sec.202 of Indian Contract Act, 1872).


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Name : ROHIT DALMIA

Law Firm Name : ADVOCATE ROHIT DALMIA & ASSOCIATES

Country : India

City : Mumbai

State : MAHARASHTRA

Practicing Since: 2007

About Your Firm : It is Proprietorship Firm Providing Services related to Litigation and Non-Litigation work. The Firm is serving Corporate and Individual Clients across India. Litigations related to Property Disputes, Commercial Disputes, Arbitration, Cheque Bouncing, Consumer, Labour Matters, Municipal Corporation matters, Tenancy disputes, society related matters and Testamentary Matters are being handled by the Firm. Non-Litigation Services related to drafting of Notices, replies, drafting of MOU'S, Contracts, Sale Deeds, Will, Power of Attorney, Providing Title Search of the Property and Vetting of documents and giving legal Opinion to the Clients.

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Anshu Kushwaha Bar Council of Maharashtra and Goa

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Subject :  Drafting a Will
Question :  Can i specify an under construction property in the Will? The property will be delivered only after a year. But i want to register the Will now by bequeathing my properties to my son. Is that possible?

Answer by ADVOCATE ROHIT DALMIA & ASSOCIATES :  Yes, You can include it in your will. Also you need to put the liability associated with it, such as housing loan or balance amount payable to the Developer for acquiring the under construction property, so that the beneficiary would be aware about the liability associated with that assets. For further consultation you may contact on 9324538481. Regards