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
No comments:
Post a Comment