Power of Attorney
Power of attorney is a legal document that allows a person (the principal) to grant another person (the agent or attorney-in-fact) the authority to act on their behalf in legal and financial matters.
Easy Process and Documentation
- Identity proof of the principal and agent
- Address proof of the principal and agent
- Two passport-sized photos of the principal and agent
- Stamp paper or court fee,
- Power of attorney form, duly filled and signed by the principal and agent
Process, Service Charges, Time duration
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WHAT IS POA (Power of Attorney)?
According to the Power of Attorney Act of 1882, a power of attorney can be defined as any instrument that gives another person the authority to act for and in the name of the person who executed the document.
A Power of Attorney, also known as a Power of Authority, is a document that grants one person the authority to act on behalf of another in certain or all legal and financial affairs. The term is abbreviated as POA. A principle, also known as a donor, is a person who entrusts another reliable individual with certain responsibilities. In the course of a lifetime, a person may find themselves in a variety of circumstances in which they are unable to fulfil the responsibilities that are expected of them, such as being physically unable to do so, being away from home for an extended period of time, or being of an advanced age. In such circumstances, if the transaction needs the attendance of the individual who is unable to be present physically, then the only way out is to assign the powers to act on behalf of the individual to another person. This person would then be able to represent the individual in the transaction. At this point, a Power of Attorney deed is going to have to be drafted up.
THE PROCESS OF MAKING POA
Fill in the information listed in the draught using a simple power of attorney template on our website.
Choose your state and place
You can pay online.
Print and sign the paper.
REQUIRED DOCUMENTS POWER OF ATTORNEY
|Aadhar Card||Address Verification.|
|Voter Id||Passport or any other proof of identity.|
ADVANTAGE OF POWER OF ATTORNEY
- Avoids getting stuck in one place.
- Allows you to choose who will make decisions on your behalf.
- Gives family members a chance to stay as an agent or be in charge of the Power of Authority.
- Allows the agent to plan and do business on behalf of the principal.
- If the agent is a trusted family member or friend, there is nothing to worry about.
TYPES OF ATTORNEY POWER
- Power of Attorney (POA) for General Purposes
When you want to give someone else the authority to act on your behalf in any legal proceeding, you can do so by drawing up a general power of attorney. The General POA can now be carried out at this time.
- Court-Appointed Special Power of Attorney
When an individual is unable to handle certain matters on their own due to other commitments or for reasons related to their health, the special power of attorney is frequently utilised.
- An online Deed of Revocation of a Power of Attorney is available
If you have already executed a power of attorney and would like to cancel it and revoke all of the powers, we can assist you in doing so by helping you complete a Deed of Revocation. If this is the case, please let us know so that our attorneys at Indolegal can assist you.
- Durable POA
An agent is granted the authority to handle all of the principals’ business if the Durable Power of Attorney is used. It does not have a predetermined length of time, and it goes into effect as soon as the principal becomes unable to carry out their responsibilities. When the principal passes away, it will become null and void.
Not Long-Lasting POA
A power of attorney that is not durable is used for a limited amount of time during which the agent is authorised to make decisions on behalf of the owner. However, once the allotted time has passed, the agent is no longer authorised to make any decisions.
WHO SHOULD USING POA? WHEN?
In general, a POA is made by anyone who can’t do the deals by himself or herself. There are many reasons for this, some of which are listed below:
If you need someone to act in your place when you are not in the same country, If you want to give someone temporary authority to act as if they were you, When you can’t understand what you’re signing because you’re not smart enough. You should have complete faith in the person or people you choose to be your lawyer(s). How many different kinds of POA (power of attorney) are there?
NON-RESIDENT INDIANS (NRI) POWER OF ATTORNEY
If a person (the landlord) lives outside of India but owns a property in India and wants to rent it out, he can use a power of attorney (POA) to make a renting agreement for his property. If the NRI makes a mistake when signing the Power of Attorney, the sale deed can sometimes be declared “null and void.” Some of these mistakes are made on purpose, but most of the time they just happen by accident. So, you need to check everything when a Non-Resident Indian makes a POA.
POWER OF ATTORNEY FAQS
It is the responsibility of the agent to protect the principal’s property and to keep it distinct from the agent’s own possessions at all times. Money should be held in a separate bank account for the benefit of the principal, and agents are required to keep accurate financial records of their actions and produce a complete and periodic accounting for any money and property that comes into their possession. The money should be kept in a separate bank account for the benefit of the principal. Give your agent specific instructions to keep detailed records of all the transactions they handle for you and to provide you with regular accountings of their activities. Additionally, you have the option of instructing your agent to deliver an accounting to a third party.
In most cases, if a Power of Attorney is lawful when you sign it, it will continue to be valid even if you move to a different state after signing it. Simply because you have relocated to a different state should not make it essential for you to execute a new power of attorney document. Nevertheless, now would be a good time to review and possibly revise your power of attorney documents.
An irrevocable power of attorney is a business paper that cannot be changed. They are also known as “durable power of attorney.” Usually, you give someone a durable power of attorney so that they can make decisions on your behalf in case of an accident.