As, I understand, you intend to buy a property that stands in the name of two persons (Two joint Owners of the property); One of them has provided the power of attorney, while the other owner has provided the no objection on stamp paper. This writing is shown as a “consent”. However, this process can not be termed as satisfactory. The other owner should either give the power of attorney, or that the other owner should have provided the relinquishment deed to the owner who has provided the power of attorney and necessary entries made in the revenue record. Mere writing that he has no objection, in case the property is sold is not sufficient. It must come out on the revenue record as well which shall establish that he has in fact given away the right. Registering the sale deed under power of attorney by one owner does not turn to be a legal and valid sale deed and right, title and interest do not pass on to you as understood in law.

For detailed information please email at (corporatearmour[at-the-rate-of]gmail[dot]com

) Hemang Rana

Mr. Rana, useful comment by you. Please suggest a solution in respect of an under-construction AWHO 3 bed apartment, which is in the name of my 75 yr old Dad. The proce of 30L will be paid by me. Dad intends that the apartment will belong to me. Would it be legally better to get a buy/sell agreement from Dad of the apartment, right now for a token sum (say 1 lakh and stipulate that on registration of the apartment, the apartment will be registered in my name?

Dear Mr. Dubey,

Ask your father to prepare a gift deed and give on your name.

there can be some other questions which might arise like your father had self acquired property or inheritance?

how many brothers/sisters you have?

then on these basic exact solutions can be prepared.

Dear Mr. Ajay,

NOC will not suffice at all. GPA shall be registered. Then they can sell.

Gyan

please go through the PoA to check out what powers the other person has got in terms of selling of the property. contents of PoA must be read minutely. then only any solution can be reached out.

your father can sell it off to you assuming it is his self earned property. gift deed can also be made as suggested.

X may act on registered irrevocable power of attorney for sale of the property. If possible ensure presence of Y at the time of the execution of sale deed

Dear sir/ maam,

I sold a property , agricultural farmland ,in 1988. now 26 years later the buyer is asking me to give him fresh POWER OF ATTORNEY .

Kindly guide if this would be financially prudent.I fall in the 30 % tax bracket and the current price of the property in question have zoomed 90 times from my selling price and 562 times my purchase price.

Kindly let me know of both Financial and Legal implications arising out of me giving the buyer Power of Attorney now, i am in my 60,s now and cannot see myself doing rounds of both Incomes Tax Office and Courts for any resulting income tax demands or litigations .

Please note no money is changing hand now.

Regards

In case he is in possession as owner as per earlier P-O-A, he has now become owner by way of adverse possession as such no fresh P-O-A is required.

Further, since no monetary transaction is taking place, you may not be subjected to any tax burden by fresh P-O-A if P-O-A is properly drafted.

Regards:

Anoop

9891491829.