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General power of attorney

Courtesy/By: Deepshikha Thakur | 2021-01-08 21:09     Views : 258

A legal document that allows an agent to act on behalf of the principal is a general power of attorney. The agent is granted authority by the principal because the principal is unable to decide by himself and since the general power of attorney is not specific the agent would have the authority to make financial, medical, legal, and business decisions, however, he is not authorized to make decisions related to real estate. Whatever the agent does is irrevocable and the principal MA what is done by a general power of attorney.


Other than a general power of attorney there exist 2 other types of power of attorney that is the special power of attorney and the durable power of attorney. In special power of attorney, the principal conference-power to the attorney to act on behalf of the principal for only some specific purposes and the power will cease to exist once the purpose is completed or is carried out. The transaction text place as it has been specified, it can be single or multiple. A durable power of attorney one specifies the durability factor in the agreement deed and the power of attorney will remain effective when the principal becomes incapacitated, so durable condition is important or else just like other power of attorney the deed will be nullified the principal is incapacitated. A durable power of attorney is used when the principal is looking for an aid to represent Himself, or he is not in a position to carry out critical transactions, or when he is abroad and wants to appoint Anna better for domestic business, etc.


Revocation of the general power of attorney can be done if the power given to the attorney is coupled with interest that is irrevocable. The parties cannot make the power irrevocable by writing that the instrument is irrevocable if the power of attorney is revocable. The power whether irrevocable or revocable is checked as per the test laid down and if the power is irrevocable the parties are free to make it revocable by an express stipulation to the contrary.


Registration of a general power of attorney is not mandatory as per the Indian registration act however, it is advisable to do so and get it to notarise in the presence of 2 witnesses. When this general power of attorney involves immovable property it is mandatory to get the power of attorney registered with the office of Sub-registrar who has jurisdiction over the area where the principal lives and he will need to pay stamp duty for registering the power of attorney. Stamp duty is needed for it to be legally accepted as evidence before the court. Power of attorney cannot be used as evidence in case of legal conflicts the stamp duty has not been paid and the person will be fined 10 times the original stamp duty.

 

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.

Courtesy/By: Deepshikha Thakur | 2021-01-08 21:09