What is Power of Attorney?
A Power of Attorney (POA) is a legal document that allows one person (the principal) to authorize another (the agent or attorney) to act on their behalf in legal, financial, or property-related matters. POAs can be General or Specific, and may be used in personal or business transactions.
Why is Power of Attorney Important?
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Empowers someone trustworthy to act when you're unavailable.
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Essential for NRIs to manage property or bank matters in India.
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Legally accepted by courts, banks, registrars, and institutions.
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Avoids legal complications by providing formal authority in writing.
Types of Power of Attorney
- General POA: Broad authority over property, finance, and legal matters.
- Special POA: Authority limited to a specific task or transaction.
- POA for NRIs: For Indian citizens living abroad managing Indian assets.
- Durable POA: Continues even if the principal becomes incapacitated.
What Does It Include?
- Legal drafting of General or Special POA
- Execution with proper signatures and witness
- Notarization or registration as per requirement
- For NRI: Embassy attestation or Apostille if applicable
Documents Required for Power of Attorney
- ID proof of both Principal and Agent
- Property documents (if POA is related to a property)
- Passport copy (for NRI execution)
- Stamp paper of appropriate value (as per state rules)
- Two witnesses with valid ID proof
Who Needs a Power of Attorney?
- Senior citizens delegating authority to trusted family members
- NRIs managing Indian property or bank accounts
- Business owners authorizing partners or staff
- Busy professionals unable to be physically present
When Should Power of Attorney Be Used?
- When traveling or residing abroad
- During property purchase, sale, or rent registration
- When authorizing legal representation in court
- When handling banking or business formalities remotely
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