Tips for NRIs Power Of Attorney

Tips for NRIs Power Of Attorney

NRIs-power-of-attorney

NRIs spend most of the time outside India. Many of them make occasional visit to the country for family get-together, business events, attending conferences/ webinars/seminars/ workshops and strengthening their connections. Many desire to own house in their hometown or metro cities. And several migrants already have their inherited property in their native land. The reasons are so many for which they need to come many a times. But sometimes, some genuine reasons interrupt their visit. At that time, ‘power of attorney’ (POA) can prove handy if they need to ink any property deal. NRI property management, including rental income collection, repair, payment of utility bills and so on, rises the need of the reliable person to whom POA can be granted. Such person is known as Attorney/ Donee/ Grantee and the one on whose behalf he is taking charge is termed as Donor/ Grantor/ Principal. POA can be general and special. General POA is granted for assigning substantial power to complete the transactions which the donor has supposed to do. On the other hand, special POA is granted to meet specific purpose. For it, attestation/ notarization and registration are mandatory. If living abroad, it must be duly attested by the official of Indian consulate within three months.