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Power of Attorney Drafting Services By Expert Lawyer in Kolhapur
Get your POA ( Power of Attorney ready in few minutes. Share your details on our readymade template and LegalKart's Sr. expert lawyer from Kolhapur; will get in touch with you to finalize all the requirements and once finalization is done. You will get the document delivery.
Deliverables with POA Document in Kolhapur
a) POA consultation with senior expert property Lawyer from Kolhapur
b) Detailed drafting of the POA document
c) Consultation with expert property lawyer to finalize the document.
d) Up to two iterations to accommodate your suggestions in the document before finalization.
e) For registration, expert Lawyer will be physically present to help you complete the registration formalities in the court.
What is Power of Attorney?
A Power of Attorney (PoA) is a legal document that allows one person (the principal) to grant another person (the agent or attorney-in-fact) the authority to act on their behalf in legal, financial, or personal matters. This document is crucial for managing affairs when the principal is unable to do so due to illness, absence, or incapacity. Understanding the nuances of a Power of Attorney is essential for both the principal and the agent to ensure that the powers are used appropriately and legally.
What are different types of Power of Attorney
There are several types of Power of Attorney, each serving different purposes. Understanding these types can help you choose the right one for your needs.
1. General Power of Attorney (GPA)
A General Power of Attorney grants broad powers to the agent to act on behalf of the principal in all matters allowed by law. This can include managing finances, signing legal documents, and making business decisions.
Example Use Case: A business owner traveling abroad might grant a General Power of Attorney to a trusted partner to handle business affairs in their absence.
2. Special Power of Attorney (SPA)
A Special Power of Attorney grants limited authority to the agent to perform specific tasks. This could involve a single transaction, such as selling property or managing a bank account.
Example Use Case: An individual selling a property might grant a Special Power of Attorney to someone to complete the sale on their behalf.
3. Durable Power of Attorney (DPA)
A Durable Power of Attorney remains in effect even if the principal becomes incapacitated. This type of PoA is crucial for long-term planning, especially in situations where the principal might lose the ability to make decisions due to illness or injury.
Example Use Case: An elderly person might create a Durable Power of Attorney to ensure that their financial and medical decisions are managed if they become unable to do so themselves.
4. Medical Power of Attorney
A Medical Power of Attorney, also known as a Health Care Proxy, grants the agent authority to make healthcare decisions on behalf of the principal. This is particularly important for individuals who want to ensure that their medical preferences are respected if they are unable to communicate them.
Example Use Case: A person might designate a family member as their Medical Power of Attorney to make decisions about medical treatment if they are in a coma or otherwise unable to express their wishes.
How to Create a Power of Attorney
Creating a Power of Attorney involves several steps to ensure that the document is legally valid and accurately reflects the principal's intentions.
Step 1: Choose the Right Type of PoA
Identify the type of Power of Attorney that suits your needs. Whether it’s a General, Special, Durable, or Medical PoA, the decision will depend on the specific powers you want to grant.
Step 2: Select a Trustworthy Agent
Choose someone you trust implicitly, as they will have significant control over your affairs. It’s essential that the agent understands their responsibilities and is willing to act in your best interests.
Step 3: Draft the Document
The Power of Attorney document should be carefully drafted, detailing the powers granted to the agent, any limitations, and the duration of the PoA. Legal advice is often recommended to ensure the document is comprehensive and complies with local laws.
Legal Provision: In many jurisdictions, including the United States, a Power of Attorney must be signed by the principal and witnessed or notarized to be legally binding.
Step 4: Sign and Execute the PoA
The principal must sign the Power of Attorney in the presence of a notary public or witnesses, as required by law. This step is crucial to validate the document and prevent potential disputes.
Step 5: Distribute Copies
Once the Power of Attorney is executed, provide copies to relevant parties, such as financial institutions, healthcare providers, and the agent. This ensures that everyone involved is aware of the agent's authority.
How to revoke a Power of Attorney
A Power of Attorney can be revoked at any time by the principal, provided they are mentally competent. To revoke a PoA, the principal must:
- Create a written revocation document.
- Notify the agent in writing.
- Inform any third parties, such as banks or healthcare providers, that the PoA has been revoked.
Legal Provision: Some jurisdictions require the revocation to be notarized or filed with the same authority where the original PoA was recorded.
Responsibilities of the Agent
The agent, or attorney-in-fact, has a fiduciary duty to act in the best interests of the principal. This means they must:
- Act with honesty and integrity.
- Avoid conflicts of interest.
- Keep accurate records of their actions on behalf of the principal.
- Act within the scope of authority granted by the PoA.
Potential Risks and How to Mitigate Them
While a Power of Attorney is a useful tool, it also comes with risks, particularly if the agent misuses their authority. Here are some potential risks and ways to mitigate them:
Risk 1: Abuse of Power
An unscrupulous agent might misuse the PoA for personal gain.
Mitigation: Carefully choose a trustworthy agent and consider appointing a co-agent or requiring the agent to report to a third party.
Risk 2: Lack of Clarity
If the PoA is not clear about the agent’s powers, it could lead to disputes or unintended consequences.
Mitigation: Ensure the document is precisely drafted, clearly outlining the scope of the agent’s authority.
Risk 3: Revocation Issues
Failing to properly revoke a PoA can result in the agent continuing to act on behalf of the principal.
Mitigation: Follow all legal steps for revocation and notify all relevant parties immediately.
Why LegalKart?
- Senior Expert Lawyers: We will get your document drafted/reviewed by Senior Expert lawyers. You can track the progress of your document on our platform at all times.
- 4.5 Customer Score: Clients are delighted with our service! They have consistently rated us high because of our focus on delivering quality output and providing regular updates.
- Responsible Delivery: Our team of experienced business advisors are just a phone call away. Our team will ensure that your interaction with the expert lawyer is smooth and seamless and the document draft is delivered to you within the committed timeline.
Property Documents
Power of Attorney
₹5999
₹ 15999 (59% Off) ₹9000 Save₹9999
₹15999 ₹6000 SaveGross Total
₹15998
Deliverables *
a) POA consultation with expert property Lawyer
b) Detailed drafting of the POA document
c) Consultation with expert property lawyer to finalise the document.
d) Upto two iterations to accomodate your suggestions in the document before finalisation.
e) For registration, expert Lawyer will be physically present to help you complete the registration formalities in the court.
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Frequently Asked Question
What are some of the common uses of POA?
POAs can be executed for a variety of purposes, here are examples of some of the most common purposes it is executed:-
- When an NRI purchases or has a property in India, but is unable to visit India on a frequent basis, he executes a POA in favor of someone else to deal with such property.
- When an elder member of the family becomes incapacitated due to old age ailments, he/she executes General Power of Attorney (GPA) in favor of their children or other close family members to deal with their assets.
- In case of companies, which are facing litigation in different parts of the country, it executes Special Power of Attorney (SPA) in favor of its employees working in such cities where it faces litigation.
Difference between General Power of Attorney and Special Power of Attorney?
- A general power of attorney (GPA) gives broad authorizations to the agent. The agent may be able to make all of the medical decisions, legal choices, or financial or business decisions.
- However, a special power of attorney narrows what choices the agent can make. For example, SPA executed for filing court cases.
- The main difference between the two, is that in GPA, broad powers are given to the holder, however, in SPA, specific and narrow powers are granted.
How to make Power of Attorney legally enforceable?
- Drafting:- Draft a POA by stating the necessary particulars and authorizations.
- Sign:- The POA must be signed by the principal.
- Stamping:- The POA must be stamped according to the relevant stamp duty act.
Is it mandatory to stamp POA?
Yes.
Under section 48 of schedule 1 of the ‘Indian Stamp Act 1899’, the power of attorney is chargeable. And it is mandatory to pay stamp duty by the principal/grantor in the jurisdictional registrar’s office.
Stamp duty charges vary from one state to another.
Can I sell my immovable property through GPA?
Buying a property through General Power of Attorney is a commonly followed route of transacting in Indian real estate. However, as per an order issued by the Supreme Court of India in 2011, transferring a property through GPA is invalid.
Can PoA be cancelled or revoked?
Yes, it can be revoked by the “Revocation of Power of Attorney”
After executing POA, does my rights cease to exist?
No. You can manage your own rights even after you appoint a POA holder. This arrangement does not transfer powers unilaterally to the agent. It only shares such powers.
What will happen if my POA holder dies?
All powers granted to the Attorney are naturally revoked by law. The POA holder will not be able to act on behalf of the grantor. Additionally, if there was a will in place, it will come into effect.
What will happen if my POA grantor dies?
In such cases, the POA becomes revoked
What will happen if my POA holder becomes of unsound mind?
In such cases as well, the POA becomes revoked.
Can companies or corporations execute POA?
Yes. In fact, the companies usually execute POAs to their agents. For example, in case of companies, which are facing litigation in different parts of the country, it executes Special Power of Attorney (SPA) in favor of its employees working in such cities where it faces litigation.
In case of companies, POA is granted by its authorized representative.
What our users have to say
I often need property related documents for my business needs, and I am always in search of good and convenient drafting services, and my search came to an end at LegalKart. They have humble team, expert lawyers, technology dashboard to track and manage documents I am getting drafted from them. it was a WOW! experience.
Vikram Chaudhary, Real Estate Developer , Jodhpur
Legalkart made the process of drafting and registering Special Power of Attorney simple and efficient. The expert lawyers at Legalkart ensured that my document was accurately drafted and delivered in a timely manner. I highly recommend Legalkart for anyone seeking professional and reliable legal services
Khalid Arshad, Entrepreneur , Navi Mumbai
I am based out in USA and was struggling to get my property's sale process through my bother in Gurgaon, I came to legalkart to utilised the Power of Attorney drafting service from and I couldn't be happier with the results. The service was seamless, professional and truly exceeded my expectations. The team of experts at LegalKart were knowledgeable, efficient and ensured that my needs were met at every step of the way. I highly recommend their services to anyone in need of a Power of Attorney drafting solution. Thank you, LegalKart, for making this process stress-free and effortless."
Darshan Kudal, Software Engineer, Oracle, Gurgaon
Our Clients
Property Documents
Power of Attorney
₹5999
₹ 15999 (59% Off) ₹9000 Save₹9999
₹15999 ₹6000 SaveGross Total
₹15998
Deliverables *
a) POA consultation with expert property Lawyer
b) Detailed drafting of the POA document
c) Consultation with expert property lawyer to finalise the document.
d) Upto two iterations to accomodate your suggestions in the document before finalisation.
e) For registration, expert Lawyer will be physically present to help you complete the registration formalities in the court.