Yash (Student) (49 Points)
27 May 2013Mr.X has a undivided inherited property. Due to some reason he transfers the same to his cousin brother Mr.Y through a General Power Of Attorney. Now Mr.Y is betraying the trust of Mr.X and has become money minded. Mr.Y is not willing to give back power of attorney.
Can Mr.X revoke this General POA from Mr.Y without his consent??
General POA have clauses that it is irrevocable.
Please help!!
CA CMA CS Ram Pavan Kumar Melam
(CA)
(6980 Points)
Replied 28 May 2013
GPA holder is your agent. Mere a clause containing irrevocability of GPA in the document is not sufficient to determine its character. In case GPA granted was for consideration (i.e. coupled with interest), then it becomes irrevocable in law.
In your case you mentioned as transfer of the undivided inherited property. Transfer can take place if mode of conveyance is ‘GPA cum sale agreement’. In such case there would be no remedy for this.
Yash
(Student)
(49 Points)
Replied 28 May 2013
Thank You so much sir for your reply. And yes in my case there was no sale aggrement or any kind of consideration involved. Can you please clear some of my following doubts regarding the same:-
(besides the papers of property is still in name of Mr.X only. Also as per HC order on May 13
the property can be sold on transfer of GPA).
CA CMA CS Ram Pavan Kumar Melam
(CA)
(6980 Points)
Replied 29 May 2013
If the power is revocable then the parties cannot make it irrevocable merely by writing that the instrument is irrevocable.
GPA is a kind of agency. The principal may revoke the authority of the agent at any time before the agent has exercised his authority so as to bind the principal unless the agency is irrevocable.
During the period of agency, the agent may exercise his authority without recourse to the principal.
Approach any advocate dealing in properties / document writer and request him to arrange for revocation of GPA. Agent's consent is not necessary for revocation of agency.
vaibhav
(Engineer)
(23 Points)
Replied 15 December 2015
hii sir please tell me the procedure and fees of power of attorny
Kavk Sn
(12 Points)
Replied 22 December 2015
A cancellation deed for GPA be prepared either by Lawyer or document writer and execute the same with a stamp duty which costs less. the stamp duty is vary from one state to another state. hence get the information of stamp duty at registrar office of your area.
vaibhav
(Engineer)
(23 Points)
Replied 12 January 2016
sir thank you for reply but i want know procedure how to make POA not cancellation.
Kavk Sn
(12 Points)
Replied 22 March 2016
Get the deed be drafted by a senior Document writer or a local lawyer and you can get it from online also. if the POA is executed to the family members of yours, then it requires less stamp duty in most of the states. and for relatives or friends it depends upon the nature of the POA. for example, it is meant for sale or transfer of property the stamp duty payable is as Conveyance. it is for development coupled with POA the duty payable is as per Market Value guide lines or consideration whichever is higher. the stamp duties and exemptions or reduction if any are some difference from one State to other State, so consult at registrar office of your area.
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