Kanchan Khatana And Associates
Kanchan Khatana And Associate's
22 Years Exp
General Power of Attorney (Show More)
Gurgaon , Chakkarpur
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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 : Kanchan Khatana And Associate's
Law Firm Name : Kanchan Khatana And Associates
Country : India
City : Gurgaon
State : HARYANA
Practicing Since: 2003
About Your Firm : Kanchan Khatana and Associates is a full service law firm, headquartered in India, while offering cutting edge blend of capabilities to corporations, individuals and international entities across the globe. We are distinguished not only by the depth and scope of our legal advisory services, but also by unmatched experience and international exposure that enables us to handle deals and cases of any size and complexity. Over the years, we have built a reputation for high quality work, a positive outlook, and the highest standards of service and ethics. The Firm continues to expand and now, we have notably become the counsel of choice. At Kanchan Khatana and Associates, providing effective and efficient assistance to our clients is our foremost aim. The clients benefit from our approach of viewing issues from both a business as well as a legal perspective; focusing on problem avoidance, not just problem solving. With a sophisticated understanding of changing business environment intersecting with law, public policy and technology, the Firm is positioned to protect and advance its clients’ business interests in the present era of globalization. We have a highly qualified and responsive team comprising of young as well as senior legal professionals who have been recognised and honoured for their outstanding contributions in their respective areas of law. Our emphasis is on identifying the client’s needs down to the last detail, ensuring that our work is technically faultless and ultimately managing our projects to surpass our client’s expectations. Our Firm represents varied clients Multinationals, Indian and Foreign Corporate bodies, and individuals in an array of matters.
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Legal & Drafting
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