Can someone explain the PROS and CONS of buying property through power of attorney

Q: Can someone explain the PROS and CONS of buying property by giving Power Of Attorney?

Paul, Apartment Resident

10th November 2018

Buying property in Coimbatore

power of attorney

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The drafting of General Power of Attorney has to be made with great care and precision, where valid reasons for issuing the powers have to be stated. Any wrong use of words can jeopardize your position and can cause greater harm.

Ramana Vignesh, Chennai

12th November 2018

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Yes, General Power of Attorney is not a valid document for transfer or purchase of immovable property in the eyes of law.

Kailesh, Bangalore

12th November 2018

Hello Paul
Property in India can only be validly transferred through a duly registered Conveyance Deed or Sale Deed after paying the requisite Stamp Duty.

The General Power of Attorney route is taken only with the purpose of avoiding payment of Stamp Duty , Capital Gains etc and hence is illegal, fraud with risks and should be avoided at all costs.

Madhukar, Chennai

12th November 2018

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