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SC rules property transfers done through Power of Attorney won't be valid

Going by the judgement, if the PoA holder resells the property to someone else, the transfer will actually be between the original owner and the new buyer

Tinesh Bhasin 

To save on stamp duty and registration charges, many individuals, for decades, have sold their properties by giving an irrevocable Power of Attorney (PoA) to the buyer, instead of registering a sale deed. However, the Supreme Court has ruled that property transfers done through a PoA, Will, or sale agreement will not be considered a valid mode of transfer.

The judgment has a bearing on both buyers and sellers. “If someone buys a property from a person with PoA, the earlier owner will still be considered the title holder,” says Atul Pandey, partner, Khaitan & Co. Going ...

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First Published: Thu, November 07 2019. 00:23 IST
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