Power Of Attorney Lawyer services By Edge Law Partners

What Is Power Of Attorney?

A power of attorney is a legal document that allows one person to grant another person the right to perform or the power to transact in matters relating to real estate, banking, legal and judicial proceedings, tax payments, etc. due to circumstances such as being out of the country, growing older, or being unable to handle one's responsibilities in those matters, among others. A power of attorney is a written formal document that grants someone the right to act on another person's behalf. This individual is referred to as the donor or principal.

  • Principal/Grantor/Donor- The phrase "grantor," "principal," or "donor" refers to the individual who gives another person the authority to act on his behalf.
  • Attorney/Agent/Donee– The phrase "Attorney," "agent," or "donee" refers to the person to whom the power is granted.

  • Types Of Power Of Attorney

    General Power Of Attorney

    You can either provide a GPA for all of your assets, banking activities, tax filings, registrations, legal conflicts, court cases, etc. Alternatively, you can grant general authority to any one category, such as all banking operations or all real estate issues. If the Attorney is not a reliable individual, this type of power is very broad and carries a lot of risks

    Special Power Of Attorney

    The other kind of power granted is a special power, which is exclusively given for a certain job or task. This is typically used when you want to appear in court on behalf of the Principal, rent out your property, register any property, appear for the tax authorities, etc.

    Difference between General and Special Power of Attorney

    A special power of attorney differs significantly from a general power of attorney. The Special Power of Attorney only grants a specific power to carry out any specific act or duty, whereas the GPA always grants a general power of performance. The GPA is not limited to any one type of job and encompasses a broad range of skills. As a result, it should only be shared with someone you can completely trust. The Special power, on the other hand, is always task-specific and ends as the task or particular act is completed. Under the General Powers, a person may give the Attorney permission to do things like attend court dates on their behalf, buy or sell property, rent it out, recover debts, open or close bank accounts, attend financial transactions, submit tax reports, and more

    Durable and Non-durable Power of Attorney

    A Power of Attorney typically expires upon the passing of the Principal. Therefore, it should be specified in the deed if the power must continue even after the death of the Principal. If not, all powers of attorney are deemed to be non-durable and expire upon the passing of the principal.

    Important Clauses in A Power Of Attorney

    Depending on the type of power of attorney that is created, it is vital to include a few mandatory clauses while drafting one. The following are a few of the crucial provisions that must be in the Power of Attorney deed:

  • The Principal's name, age, residence, and line of work are listed on the Power of Attorney.
  • The Attorney, the person to whom the power is granted.
  • The legitimate justification for granting the power of attorney.
  • The time and location of the Power of Attorney deed's creation and the day on which it takes effect.
  • If the power of attorney has a time limit, the date it expires. Mention whether the Power of Attorney is durable or not if no duration is given.
  • If a general power has been conferred, all acts and circumstances surrounding its granting should be made explicit. It should be made clear if the Attorney is prohibited from performing any specific act in any given situation. For. For instance, if a broad power of property is granted, the principal may grant the right to purchase or rent any property, but he may not grant the right to sell any of his possessions.
  • The specific or unique act or duty that needs to be performed and accomplished by the attorney must be indicated in the special power of attorney. Additionally, the window of time in which that action must be completed must be provided.

  • Power Of Attorney By Non-Resident Indians (NRI)

    An NRI, or non-resident Indian, is not need to travel to India in order to create a Power of Attorney deed; they can do it while they are abroad. The majority of NRIs have assets and bank accounts in India, therefore certain transactions can necessitate their presence. However, traveling to India for each of these transactions is frequently not an option. For this, NRIs can always delegate the authority to transact to another individual who is a friend or a family member.

    The steps that NRIs must take to create a Power of Attorney deed are straightforward and are as follows:

  • Create the NRI Power of Attorney, print it on standard paper, and sign it.
  • Get it stamped and sealed from the Indian Embassy by going to the Indian Consulate in that nation. As an alternative, you might have it notarized by a Public Notary in that nation, making sure to include the notary registration number on the seal of each sheet.
  • To your Indian address, send the verified deed by registered mail in the name of any family or friend.
  • The individual in India should pay the necessary registration fees that apply in that state and register it with a Sub-Registrar office or Sub-Divisional Magistrate office in India.

  • Why Choose us?

    Contact Edge Law Partners right away if you need to create a power of attorney. Our devoted power of attorney lawyers have decades of expertise assisting clients in setting up the protections they require. We can assist you whether you require durable powers of attorney for a single person or generic powers of attorney covering a number of people.