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POWER OF ATTORNEY

1) What is Power of Attorney? A - A power of attorney is a legal instrument whereby one person gives another
person the authority to act on his or her behalf as his legal representative, and to make binding legal and financial decisions on your behalf.

You determine how much power the person will have over your affairs

2)

Types of Power of Attorney-

There are two types of Power of Attorney-

Every act performed by your agent within the authority of the Power of Attorney is legally binding upon the persons granting it. A power of attorney should be given only to a trustworthy person, and only when absolutely necessary. The person who empowers is the Principal and the person to whom the power is conferred is the Agent.

A "General" Power of Attorney for Property authorizes your attorney to do anything that you can do, except writing your will.
1) General Power of Attorney -

SUPREME COURT BAN USE OF POWER OF ATTORNEY IN PROPERTY MATTERS. ---------------------------------------------------------------------------------------------------The recent order by Honble Supreme Court ruled that sale transactions carried in the name of general power of attorney will have no legal sanctity and immovable property can be sold or transferred only through registered deeds. Transactions of the nature of `General power of attorney transfers do not convey title and do not amount to transfer nor can they be recognised or valid mode of transfer of immovable property.

The courts will not treat such transactions as completed or concluded transfers or as conveyances as they neither convey title nor create any interest in an immovable property. Such transactions cannot be relied upon or made the basis for mutations in municipal or revenue records and those already done on G.P.A papers not to be disturbed. A general agent has authority to act for his principal in all matters concerning a particular trade or business. Authorizes a person to do all things and take all steps necessary to complete the some transaction is a general power of attorney, as the acts to be done might of various and numerous kinds.
By General Power of Attorney you can authorize for anything to your attorney. Some

examples of legal powers contained in the Power of Attorney are the following (a) A person may give a power of attorney to his spouse, son, daughter, brother, sister or relative to manage his affairs or to execute a deed of conveyance. (b) A person may execute agreement to sale and grant G.P.A to a land developer or builder for developing land either by forming plots or by constructing apartments building.

IN REAL ESTATE MATTERS

To execute all contracts, deeds, bonds, mortgages, notes, checks, drafts, money orders, To manage, compromise, settle, and adjust all matters pertaining to real estate. To lease, collect rents, grant, and mortgage CONTRACTS, AGREEMENTS To enter into contacts for sale/purchase, To make, sign, execute, and deliver, acknowledge any contract, agreement, STOCKS, BONDS, AND SECURITIES BANK ACCOUNTS, CERTIFICATES OF DEPOSIT, MONEY MARKET ACCOUNTS

To add to or withdraw any amounts from any of my bank accounts, Certificates of Deposit, Money Market Accounts, etc. To make, execute, endorse, accept and deliver any and all cheques and drafts Execute or release such deeds of trust or other security agreements as may be necessary Deposit and withdraw funds Acquire and redeem certificates of deposit, in banks, savings and loan The principal empowers the agent with the right to carry out all legal acts on his behalf without restricting it to a particular transaction or act. Gives the agent very broad powers to act on behalf of the Principal. 2) A special power of attorney: The authority is restricted to act only on certain matters or only a particular kind of transaction or to carry out a specific legal transaction for the Principal. The Principal empowers the agent to do or perform a particular transaction. The agents power of attorney expires on the completion of the transaction. Under this agent can not empowered to do different act and deed or to perform different function.

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