The Power of Attorney or GPA Property is a legal document that gives authority to the agent or attorney to act or represent on behalf of the grantor or principal. In case the principal wants to give the authority to the agent but is unable to do it personally, such an act would be classified as a general power of attorney.
So GPA refers to the delegation of authority only and it has nothing to do with passing on any title to the Attorney.
The registered property owner (in whose name the property is registered) is eligible to give a GPA execution in favor of his near ones to properly manage his property. Supreme Court had previously given a verdict that a GPA in the name of a non-relative will also be acceptable.
The only requirement is that it should be registered in the Registrar’s Office so as to make it a valid legal document.
In the case of a Registry or sale deed, the title, ownership, and possessions will all be transferred in favor of the purchaser and he is the one who becomes the absolute owner post the sale deed is executed. Another difference between the two is that the GPA will automatically stand null and void on the death of the principal but when it comes to a sale deed, the seller or even his legal heirs for that matter have no right once the sale deed is executed.
In case you are looking to buy a sale deed/ registry property in Chattarpur Delhi, you are at the right place. SIG RealTech will certainly help you in this regard.
No matter whether you need a registry property in south Delhi or a GPA property in south Delhi, you can rest totally assured as this article will remove all your doubts. According to the Supreme Court, it is important to register for a power of attorney for the sale of a property.
A GPA holder can implement the sale deed only if the GPA is registered and stamped. Needless to say, it would be clear by now that GPA is a useful instrument to take care of a property’s rent and pay utility bills and it even acts as a representation when we talk of home loan-related matters.
Some areas may fall under the municipal board or gram panchayats and in such cases of selling or purchasing property, the issue of NOC (no objection certificate) and OC (occupancy certificate) may also arise to get a solution regarding GPA and property transaction, consultation of a local lawyer is recommended. Previously people were not much aware of these terms and their relevance but these days it is widely known.
Even power of attorney property transfer is quite a common scene now. In case you need any other information in regards to the power of attorney for property in south Delhi, you can rest totally assured as we will be happy to assist you with any such matters.
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