Legal Question in Real Estate Law in India

Foreign power of attorney:
I am an Indian residing in USA (NRI/ permanent resident) and I wish to give power to my dad in Chennai, Tamilnadu to sell my property. Should the power of attorney be endorsed by the Indian embassy in the US as mandatory or notary endorsement is enough? How long is the power valid? And one more query, the buyers are insisting on vacant position of property (apartment) on date of registration, is it compulsory? Thank you.

Asked on 7/24/13, 8:43 pm

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP

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25.07.2013

Dear Sir / Madam,

The Power of Attorney (POA) that you wish to give your dad in Chennai to sell your property has to be notarized in India. I doubt whether the Indian embassy in the US will endorse your POA, but you can still check it out with them. You should specify the period of validity in the POA. In the Sale Deed, you should specify and ensure that at least 90% of the entire agreed "sale / purchase consideration" is received by your father on your behalf on the signing of the Sale Deed, the relevant transfer papers of the property are signed by your father on receipt of the remaining 5% consideration, and the final 5% is given to your father on the date of registration, by which date you should be ready to handover possession to the buyer on the date of registration (such that all the three events are co-ordinated and completed simultaneously).

Regards,

Answered on 7/24/13, 11:44 pm

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