Active Stocks
Mon Mar 04 2024 15:59:52
  1. Tata Steel share price
  2. 153.10 -1.32%
  1. NTPC share price
  2. 353.80 3.50%
  1. Bharti Airtel share price
  2. 1,137.00 0.57%
  1. Larsen & Toubro share price
  2. 3,643.95 -0.28%
  1. Power Grid Corporation Of India share price
  2. 294.45 2.63%
Business News/ Money / Personal Finance/  Death of PoA holder won’t alter ownership
BackBack

Death of PoA holder won’t alter ownership

As per applicable laws, for transfer of any rights pertaining to immovable property in India, the PoA is required to be stamped under the applicable state law and registered under the India Registration Act, 1908

As per applicable laws, for transfer of any rights pertaining to immovable property in India, the PoA is required to be stamped under the applicable state law and registered under the India Registration Act, 1908 (Mint)Premium
As per applicable laws, for transfer of any rights pertaining to immovable property in India, the PoA is required to be stamped under the applicable state law and registered under the India Registration Act, 1908 (Mint)

The seller of a flat is in the US and gave a power of attorney (PoA) to his mother aged 75 years. Now he wants to transfer it to his sister. Can a PoA be transferred? Also, a will was witnessed by only one person, but two are required. What is the remedy now?

—Name withheld on request

With the limited facts provided by you, we assume that the mother, the attorney, has passed away leaving behind a will. Please note that the demise of the PoA holder will not affect the ownership of the seller holding the flat. He may execute a fresh PoA in favour of his sister by way of a sale or gift by executing appropriate documents.

As per applicable laws, for transfer of any rights pertaining to immovable property in India, the PoA is required to be stamped under the applicable state law and registered under the India Registration Act, 1908.

Aradhana Bhansali is partner, Rajani Associates. Queries and views at mintmoney@livemint.com

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 06 Jan 2021, 06:28 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App