Here are the key points regarding buying a house using a Power of Attorney (POA):

Essential Considerations Regarding Power of Attorney (POA) for Property Transactions in India

 

1. Validity of POA: A general POA is valid for the lifetime of the grantor (the person who gives the POA). A special POA for a specific transaction is valid only for that transaction.
   

2. Restrictions on POA: The POA holder cannot transfer the property to themselves or their relatives. The transfer has to be to the person specified in the POA document.
   

3. Registration of POA: A POA used for immovable property transactions must be registered with the Sub-Registrar's office. An unregistered POA is not legally valid.
   

4. Stamp Duty: The stamp duty for -registering the POA is around 1% of the property value in most states. This is in addition to the stamp duty payable on the actual property transfer.
   

5. Revocation of POA: The grantor can revoke the POA at any time before the transaction is completed. The POA holder has no legal right to the property in such a case.
   

6. Risks for Buyer: The buyer should thoroughly verify the POA holder's authority and the grantor's ownership to avoid potential legal issues in the future.

Also Read: What are the major components of technical analysis report at the time of possession of property?