Tuesday 1 September 2015

GPA


Power of Attorney means the power or authority given to a person (agent) by an individual (principal) to act on his behalf or on behalf of a group of individuals in business matters or any other matter. 

It plays a vital role in transferring the lawful ownership of immovable property like land, building and water source, from one person to another. The person who holds the power is called the Power of Attorney Holder. He is employed by the principal to take care of his dealings with third persons. 

A person may not be able to be personally present to execute any document, due to various reasons such as living in a foreign country, old age, sickness, weak or otherwise busy. In such circumstances, the owner of the property may entrust the job of maintaining and managing the property in his absence, to any third person through a G.P.A. He may also authorize the GPA Holder to negotiate for sale of the property on his behalf. Such an instrument empowering a third person to perform certain general or specific acts in his absence is termed as General Power of Attorney.

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