Legal Question in Real Estate Law in India
My father took a loan from one private finance in hyderabad for an amount of rs 25 lakhs in march 2009 @ 4% P.M interest. the financer took AGPA of our property from my father. well the present situation is that my father expired on 11/12/2010 . what will be the validity of the AGPA agreement.
1 Answer from Attorneys
If you are referring to a power of attorney, then as a general rule a power of attorney come to an end upon death of grantor or grantee, as the case may be.
An exception to this general rule has been provided in section 202 of the contract act.
In case power of attorney granted by your father come under the said exception, then it would be valid and subsisting even after death of your father. Otherwise it came to an end ipso facto on the day/date of death of your father.
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