Are you in US? Are you thinking of buying properties in India, on your name? Do you want to authorize someone to buy/maintain your property? You can give Power of Attorney to a person you trust (your parents/relatives) and they can do the property related transactions on your behalf.
1) What is Power of Attorney (PoA)?
A Power of Attorney is a legal document in which you give another person legal authority to act for you.
You can find more details from http://www.nrilegalservices.com/
2) Can I give Power of Attorney to anyone?
Yes. But, it is highly recommended to give Power of Attorney only to folks whom you trust.
3) What should be the text in the Power of Attorney?
Are there any sample Power of Attorney documents?
Please find here the link to a sample PoA document
4) Should I type the Power of Attorney text in a stamp paper?
No. It is not required to print the text in a stamp paper.
Look at the consular website. It gives more details regarding how you should use the stamp paper, if at all you've to use a stamp paper.
5) Can I take a printout of Power of Attorney text in a plain sheet of paper?
Yes. You should take printout of PoA in a plain sheet of paper (A4 is fine)
6) Should I get the Power of Attorney attested by Indian Consulate?
It is not a must that PoA be attested by the Indian consulate. For example, I was able to buy a property/land by just getting the PoA notarized from a local notary.
However, it is recommended that you get the PoA attested by Indian consulate if your transaction is complex (for example, if you are getting loan from a bank, you may be asked to get the PoA attested by Indian consulate)
7) What is the process involved to get the PoA attested by the Indian consulate?
The consular website gives detailed information regarding the process involved to get the PoA attested
8) Can I get the Power of Attorney notarized by a notary?
Yes. In fact, I prepared the PoA on a plain sheet of paper and got it notarized in US and sent it to my dad. My dad registered that PoA in India and he was able to buy property on my name & maintain it on my behalf.
9) Where can I find additional information regarding PoA?
R2I Club Forums has a separate thread talking about PoA. You can find some information there.
Saro's R2I Blog covers Return to India (R2I) topics such as R2I planning, R2I checklist, R2I Jobs, R2I Salaries, R2I Schools and Post R2I life experiences in India
Saturday, November 7, 2009
Power of Attorney for NRIs - FAQ
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