Do you know that you can give power to someone to decide what is fit or unfit for your health because you are not capable of doing that? Along with this, you can give authority to a person to take serious decisions related to your property, finance, and business on your side.
So in this blog, you will read about the power called the Power of Attorney, which you can give to any of your friends, family members, lawyer, or anyone.
What is Power of Attorney?
It is a legal action you take to allow someone else that can be your lawyer, family member, friend, legal guardian, CA, or anyone to deal with the matters on your behalf. Principle is the word used for the owner of the POA.
POA is a kind of authorization you give someone to act as your decision-maker or agent when you cannot do things on your own.
Generally, POA is a power of attorney, and you apply when you are taking treatment for an illness, physically unfit, mentally suffering, or not present in the country.
An attorney gets the power to decide for your health, finance, business, or property-related matters.
Types of Power of Attorney
Generally, business people opt for a POA to deal with business-related matters. On the other hand, someone who resides abroad and has a property for sale in India also uses POA.
However, POA is a safe and legal way to give power to someone to do the task of decision-making for your health, finance, business or property-related matters. There are four types of power of attorney, and they are:
General Power of Attorney (GPA)
With this POA, the principal (the owner of the POA) officially approves and authorises the attorney to work on certain general acts on his behalf. The principle allows his power of attorney to handle matters available regarding the subject matter.
GPA is helpful for someone who is physically disabled, suffering from an illness, or is incapacitated to act for making decisions for himself.
Special or Limited Power of Attorney
It gives power to the attorney to act on behalf of the principle only for managing a specified aim. Once the attorney completes the task, POA ceases to exist. This POA is for someone to allow the attorney to act on his behalf to deal with any particular matter or task.
Durable Power of Attorney
In a durable Power of Attorney, mainly the one that specifies the durability factor in the deed, the attorney gets the power to act on your side if you become incapacitated.
Medical Power of Attorney
An ill principal has the right to pick a medical or health care POA as his agent to make decisions on matters related to the principal’s health and medical needs.
Read More: Medical Certificate Attestation
Who Can Use the Power of Attorney?
- You are eligible to apply for a Power of Attorney if you are not mentally and physically fit and need an aide to deal with crucial matters on your behalf.
- You live in a foreign country and with POA, assign someone as your decision-maker for your domestic business.
- You want to sell a property abroad. But you cannot leave your native country for a reason, so with POA, you give authority to someone to deal with the issue on your behalf.
When Do You Need a POA?
- Performing business-related tasks
- Dealing with real estate and property matters
- Selling or buying investments
- Complete operations related to bank accounts
How to Sell Your Property in India From Abroad With a Power of Attorney?
For instance, your interest developed in a property in Faridabad, Haryana. The property owner is 85 years old and lives with his family in Canada. The owner is ready to sell his property to you, but he has a condition that he cannot come to India. On top of this, neither the property’s current owner nor his children can travel to India.
So to deal with this situation, the owner can apply for a Power of Attorney in the name of someone he knows in India. No limitations, restrictions, or rules have yet been introduced under the law to not allow someone from appointing anyone as an Attorney.
Collect all the necessary information to help yourself before giving power to someone to take a decision associated with the property on your behalf.
POA has negative repercussions. Do not worry if the owner of the property you want to buy cannot fly to India. You can request him to direct the POA to any relative, nearest, or dearest one in India.
However, the decision to apply for a POA must have a strong base based on the rules and regulations of the nation where the grantor is residing.
On the other hand, the principle of POA who lives abroad needs attestation on his POA from the Indian Embassy or consulate in the foreign country.
Can I Sell My Dad’s House with POA?
According to the current rule implemented by the honourable Supreme court of India, the sale of immovable property by a General Power of Attorney has no existence in India as the apex court found out, that affects the economy, civil society, and law and order.
How to Find the Best Person to be a POA?
POA gives the authority to someone who knows what will turn out the best for your health and finance-related matters. Choose s person to be POA wisely.
The POA must be someone who has the required experience and skills to think useful for you and consider only the best for your health and financial matters. Here are the characteristics you must check if the person has or not to be POA before making your selection.
Pick Someone Who Lives Nearby
Consider someone to be your POA who lives near your residence, especially when for healthcare proxy or power of attorney. When looking for a health POA, try that the person lives in or near your house. In such a situation, if you are in poor health, POA must be near you to understand what is right according to your condition.
On the other hand, for POA for property or financial matters, you can choose someone who lives out of state.
Choose Someone with Values
Understanding someone is rocket science. You cannot get to know someone very well in a single meeting. Every person behaves differently in every situation. Choosing a reasonable, flexible, unbiased, and trustworthy person is a task with botheration. POA is someone you can rely on for your health property-related logical and legal matters.
Pick someone to be your POA from your relatives or the closest relation of your family. Choose someone you always find next to you when you are in trouble, who never doubted you, and show faith in you in your ups and downs.
POA Should be Someone Assertive
Choose someone confident, cherish the ability to pick the best from the worst, be emotionally stable and more practical, listen to you and your wants, communicate without wavering or doubting his decisions, and never hesitate to stand up for himself and others too.
Your POA must be someone who could not think to overpower you and do what is best for you, even under the pressure he gets from your family or friends.
Someone has the Understanding of Medical, Finance or Property
Select someone according to your task whether you need a POA for your health and finance associated concerns or property-related matters. No, we are not encouraging you to select a property dealer, CA, lawyer, doctor, or nurse in your family or friend to be your POA.
Give power to someone able to decide on your behalf who knows about medical tests, procedures, prognosis, and treatment options for your health issues. On the other hand, someone willing to research matters related to your property and know finance.
Someone Who Can Bear the Pain
Being someone’s POA is a stressful and demanding task that requires patience, calmness, and stability to bear the pain and pressure, to be honest. Before making any decision, you have to think about what the owner of the POA will do in this particular situation. Also, as a POA, you always think about the POA owner’s profit, no matter how much pressure his family or friends put on you.
How Can an NRI Use the Power of Attorney to Manage his Assets in India?
Here are the steps an NRI needs to take to apply for a POA.
Draft and type the matter of the POA on non-judicial stamp paper that is generally Rs 100.
Visit the Sub-Registrar’s office with a legal representative and two witnesses.
Compulsory for those visiting the Sub Registrar’s office must carry their valid identity proof. You must carry the original and photocopy of the POA, along with your valid identity proof.
The authority person at the Sub-Registrar’s office will submit the applicant, POA, and two witnesses’ signatures, photographs, and fingerprints.
You can collect your registered POA from the Sub-Registrar’s Office.
Doing a power of attorney in someone’s name is a tough choice. So try that in whatever condition you have picked this choice, you should first know everything about your attorney. If possible, give power of attorney to someone close to you.