Property

Sale by Power of Attorney

I brought a 2 acres in power of attorney in 2013 march and sold out 2013 April. The original owner again sold out the property to a women in 2015.please advice power of attorney sale is value or real owner sale is value. Power of attorney sale is bind the owner

Expert Advice


Your question is very ambiguous. I am assuming that your concern is validity of the sale. This can be inferred from the validity of the Power of Attorney ("POA"). If the POA was irrevocable and validly entrusted you the right to conduct the sale, then the sale you've conducted basis the POA will be binding upon the owner. I am assuming that by 'real value' your referring to the value of the sale. The ready reckoner rate for the said land will be the standard and the actual value for sale in the agreement cannot be below this amount. A higher value does not invalidate the agreement. The value will determine the amount of stamp duty payable. Please note that properties cannot be 'bought' by way of a POA. The right to deal with them however can be ascertained as per the terms of the POA.

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