Yes, it is possible to sell property in India using a power of attorney (POA). A POA is a legal document that grants authority to a person (the agent or attorney-in-fact) to act on behalf of the principal in various matters, including selling property.
To sell a property using a POA, the following steps need to be taken:
- Execute the POA: The principal must execute a POA in favor of the agent, specifically authorizing them to sell the property on their behalf. The POA must be executed on stamp paper of appropriate value and registered with the relevant authority.
- Provide Necessary Documents: The agent must provide all necessary documents, including the POA, the original sale deed, the property tax receipts, and any other relevant documents, to the buyer.
- Sign Sale Deed: The buyer and the agent must sign the sale deed in the presence of two witnesses. The sale deed must be registered with the relevant authority and stamp duty and registration fees must be paid.
- Receive Payment: The agent must receive the payment for the sale and hand over possession of the property to the buyer.
It is important to note that a POA can only be used to sell a property if it specifically authorizes the agent to do so. The POA should also clearly state the limitations on the agent’s authority and the duration of the POA. The sale must also be conducted in accordance with the laws and regulations governing property transactions in India.