Legal Question in Banking Law in India
I propose to buy a property in india. The seller is a NRI and in USA and he has executed a power of attorney in favour of his chartereed accountant. The said power of attorney is executed in USA and a seal of the notary public of america is also seen in the Power of attorney. The power of attorney has been got adjudiciated and also proper stamp duty levied. I want to know whether a sale deed executed by the power of attorney holder as per the power of attorney before the foreign notary public is valid or whether the power of attorney should be executed before the embassy itself.
2 Answers from Attorneys
its better if the POA is executed before the embassy and is duly attested. where in india the property is situate.
No doubt POA executed before the US Notary is valid as per law. But since identity of the principal is important, it is advisable that the POA of an NRI is attested by an authorized Official of Indian Embassy or consulate. If u are otherwise satisfied about the credentials of the NRI principal, and if you have other supporting documents for the deal POA attested by the Notary should suffice.
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