Edit this postIf you want a peace of mind than never enter in sale and purchase of property through power of Attorney as Supreme Court had ruled in Oct 2011 that any property sold on power of attorney has no legal sanctity and immovable property can be sold or transferred only through registered deeds.
To make it simpler to understand we can state that Power of attorney is a legal contract that gives the holder the right to maintain, rent, lease, mortgage or sell a property on behalf of the owner. Please note that it does not transfer ownership rights.
Other negatives of power of attorney sale and purchase are that these properties are not eligible for home loans from banks. Thus as a thumb rule avoid the properties which cannot be transferred through registered sale deeds and be on the right side of the law.
You can keep visiting our website for best property tips in the market and make a sale or purchase decision post deliberation.
