NRIs power of attorney to sell property in India
If you are a non-resident Indian and want to conduct the huge financial transaction in India such as selling the property, this could actually become a large hassle if you have to travel to India and back at all time. There is easier and simple solution to this. By drawing up the Power of Attorney for the non-resident Indians to sell their property in India, you can easily get your transaction done without literally traveling all the way to India. Power of Attorney to sell property in India isn’t complicated. We certainly have gathered handy guide for the ready reference and include non-resident India power of attorney format also.
What is a Power of Attorney?
The Power of Attorney is basically a document that provides another person chosen by you, the power undertake acts or deeds when one can’t physically be present. In essence, the Power of Attorney provides designated person the power to execute the deed or sign the contracts on your behalf. What exactly can this designated person can do is specified in the document.
What are varied kinds of Power of Attorney?
General Power of Attorney
General Power of Attorney provides designated person a huge scope of power to complete numerous transactions or the deeds that are actually expected.
Special Power of Attorney
Special Power of Attorney is narrower in scope. It specifies accurately what deeds or the transactions the designated person can complete on their behalf.
Procedure for a non-resident Indian Power of Attorney while you are abroad
If you want to draw a Power of Attorney and send it to India, then it is suggested to go to local Indian Consulate to get it all attested. It is certainly important as document won’t be valid unless you attest it at first. Here are some steps you should take to get the non-resident Indian Power of Attorney attested at Indian Consulate-
• On a plain paper, write down all the powers that you wish to share with the designated person. Initially, for huge transactions of immovable property such as land, your designated person should definitely be a blood relative like siblings or parents or spouse. List it out whatever you like this person to do on your behalf.
• A non-resident Indian Power of Attorney sent from abroad does not need an Indian stamp paper. Thus, you can make use of plain paper
• Before you actually sign the document, you must go to the Indian Consulate and ensure that you have a minimum of 2 copies of the Power of Attorney
• Two witness signatures would be required for Non-resident Indian Power of Attorney to be valid. You can take 2 witnesses with you while you visit the Consulate or get their signatures notarized beforehand. If the 2 witnesses are not able to come to the consulate, only then only you should get it notarized, otherwise, these must sign the Power of Attorney in presence of the consular official.
The correct power of attorney format to make sure the validity
• Both the parties in power of attorney should be competent. Minor or others who are not qualified by the law can’t hold or provide the power of attorney
• Power of attorney is valid only for the legal act
• The power of attorney must be stamped, notarized within a specified frame of time which is generally within 3 months
• The power of attorney is executed abroad must be attested by the Consulate Officer in the residence country
The correct power of attorney format to make sure the validity
It is recommended that you call the local consulate well in advance to confirm what exactly are the documents are required and how many copies of these would be required. This will make sure that you are well prepared and will certainly save everyone involved numerous times. Here are, however, primary documents that you require to take with when you go to get the power of attorney attested.
• Power of attorney itself with some copies
• The passport with some copies. Ensure you include all pages and front and back pages
• Address proof in the country of residence
• ID proof and copies of ID Proof for both witnesses
• Proof the legal status in the country of residence like Green card/Visa/others
• Passport size photographs
• You may ask to pay the fee at attestation time. Calling ahead will help have the money ready
Tips and precautions are taken while drawing the power of attorney
• Ensure that you draw the power of attorney to someone you trust
• Wherever possible, try to provide the special power of attorney. This will specify what another person can really do for you and for what exact duration
