Legal Question in Banking Law in India
power of attorney
While a vaild power of attorney is in force, whether the executor of the POA is having right to sign and do the transactions on his own behalf or only POA holder has the right to do the transactions on behalf of the executor.
4 Answers from Attorneys
Re: power of attorney
POA enables attorney to execute ,doesnt mean original exectour lost, he does have power
Re: power of attorney
while the GPA is in force, the Executor can not execute any further deed on his behalf. If he wishes to do so, he has to intimate the POA holder OR cancel the GPA (with proper intimation to the Agent) before any transaction.
Re: power of attorney
The PoA holder is only an agent of the executor of PoA. Therefore, the original owner / executor of PoA is entitled to carry out transactions directly unless there is an another agreement / contract restricting his rights e.g. PoA is at times given just to facilitate a transaction of sale, whereas the real contract is "Agreement to Sell", etc.
Please provide complete facts for appropriate opinion.
Re: power of attorney
Generally POA holder is given the power to sign and do all transactions on behalf of the executor but that does not mean that the executor cannot take action on his own.
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