Law Relating to Power of Attorney Holders

About Law Relating to Power of Attorney Holders

With the large number of flats/plots in group housing and house building societies changing hands on the basis of Power of Attorney, an anomalous situation is fast emerging over the status of such residents with members as well as Managing Committees of the societies. The questions which often penetrate the minds of all concerned relate to the legal status and validity of a Power of Attorney as a document, particularly in a situation where construction and maintenance of flats are governed by Societies. Whether Power of Attorney is a legally valid document for the purpose of transfer of ownership of a flat? Whether an executant can at any time revoke it, withdraw it even after getting the amount of consideration? Whether a person in whose favour it is executed can sell the flat by virtue of similar document or execute a will? What the law really says about Power of Attorney? Whether its registration is a mandatory requirement? What are the types of Power of Attorneys and what the Courts have hitherto ruled on these aspects. Infirmities like loss of stamp duty, loss of unearned increase, imperfect title arising out of Power of Attorney etc. are other aspects of debate over the issue. This book is first such attempt to take an indepth and analytical perspective of issues pertaining to Power of Attorney holders as well as the group housing societies. For the first time an attempt has been made to analytically examine the issues pertaining to Power of Attorney holders and their status under the societies’ laws and other Acts with particular focus on conversion from leasehold to freehold, unearned increase, Delhi Apartment Ownership Bill, 2001, registration of property dealers, contentious issue of Entry Fee and its fall-outs besides referring to latest orders, circulars and notifications issued by the Government of India, DDA and Registrar of Cooperative Societies. The book tries to explode the myths which have hitherto been nurtured assiduously over such issues in several quarters. It is hoped that the book shall be useful for Power of Attorney holders as well as to the societies.