- This topic has 8 replies, 3 voices, and was last updated 1 year, 4 months ago by
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LIs the POA registered?(Sub registrar or consulate abroad).Most of the banks don’t care for notarized poa nowadays.
Registered POA is safe until cancelled and the cancellation of POA needs to be registered as well.
However safest would be for owners to appear if possible since nowadays the amount involved is in crores.
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APOA is sub registrar registered. If the POA is cancelled after the sale deed is executed, does it cause any issues in the future.
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LAs long it’s valid on the day of execution you will have no problems even if it’s cancelled at a later date.
1. Just to be safe, please get a notarized NOC from the actual owners (they can mail it from wherever they live) stating that they are aware of the transaction and approve it and have no problems now or in future.
2. **Make sure the payment (DD, cheque) is made to the actual sellers and NOT to POA holder****
3. Also the TDS for NRI is 30% instead of 1% for resident Indians. So make sure you follow this to avoid penalty later.
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UGPA is not a valid means of transferring ownership of an immovable property. It has no legal validity in India, the Hon’ble Supreme Courts have held time and time again.
GPA cannot be shown in the court as the basis of the title in the immovable property.
Execute this transaction through a registered sale deed.
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AMy doubt is if the sale deed is signed by GPA in place of the owner (who lives in the USA) is it valid?
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UIt is definitely valid, but a GPA is susceptible to misuse I would say go for an SPA.
But regardless if the owner lives in the USA, where is this GPA/SPA being registered? If it is registered in USA it is a foreign document you would need Embassy attestation.
Then you send it to india and get stamped and registered at the local sub registrar’s office.
Then the SPA agent can execute the sale.
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