How to get Power of Attorney to sell property in India from USA?
Asked by: Murl Volkman | Last update: November 11, 2023Score: 4.1/5 (50 votes)
You will have to make a power of attorney in favor of a trusted individual who can do the sale on your behalf. To execute a valid POA, the document must be notarized by a local Notary Public, legalized by the relevant Indian Embassy/Consulate, and then registered in India with the local land registration authorities.
Can you give power of attorney to India from USA?
Yes, such a Power of Attorney will be acceptable in India
The general process is a specific Power of Attorney that will first have to be executed and attested by the Indian consulate in the USA.
Can I sell my property in India with power of attorney?
A power of attorney is not a valid instrument to transfer property titles when buying or selling a property. However, due to the financial benefits, it provides to both the buyer and the seller, selling a property through a general power of attorney has become common practice in Indian cities.
How to get power of attorney for NRI to sell property in India?
The Process To Execute Power Of Attorney
The POA may be signed by an NRI in India at the Sub-office. Registrar's The POA must, however, be printed on paper and stamped with a non-judicial stamp costing Rs 100. Additionally, two attorneys and two witnesses would both need to sign the deed.
How to give power of attorney to someone in India from abroad?
Draft the Power of Attorney deed online or hire a lawyer in India to draft it for you. Get the deed attested by the Indian embassy or consulate in that country. Any Notary from there can also attest it. The person making the deed, the Grantor, should sign the deed in all pages.
How To - NRI Given Power of Attorney in India
Can OCI give power of attorney in India?
Steps an NRI or OCI/PIO can follow to send PoA:
Provided that the granted authority is notarized and apostilled, the emigrants can entrust their certain powers. They should remember that the mandatory certificate attestation services must be carried out by the Indian Consulate or Embassy.
Does power of attorney need to be notarized in India?
—The Court shall presume that every document purporting to be a power-of-attorney, and to have been executed before, and authenticated by, a Notary Public, or any Court, Judge, Magistrate, Indian Consul or Vice-Consul, or representative of the Central Government, was so executed and authenticated.”
How can NRI sell property in India without coming to India?
1.Do a comprehensive evaluation of the property to find its market value or simply hire a broker or brokerage firm to do the same for you. 2. If one isn't physically available, a trustworthy person can be granted the Power of Attorney to carry out the sale, provided that all the necessary paperwork is there. 3.
How much does a lawyer charge for power of attorney in India?
It will be called as "Power of Attorney for Consideration 0.5% (subject to a minimum of Rs. 1,000/-and maximum of Rs.
Can NRI give power of attorney without coming to India?
The NRI principal does not have to be in India at the time of POA execution. The registration of a POA can be done in the country of their domicile through the Indian embassy. There are two ways of POA registration outside India- legalisation and apostalisation.
How much does power of attorney cost for property in India?
Stamp Duty for Power of Attorney
500/- is only applicable for registration. In case the General Power of Attorney (GPA) is given to a person other than a close relative for consideration, then stamp duty is chargeable as per the market value of the property concerned or the consideration value, whichever is higher.
Can an NRI sell property in India?
There is no difference between taxation for NRIs on sale of residential property as compared to resident Indians. NRIs who are selling house property which is situated in India have to pay tax on the capital gains. The tax that is payable on the gains depends on whether it's a short term or a long term capital gain.
What documents are required for power of attorney in India?
Documents Required For Power Of Attorney In India
Proof of the principal's identity, such as a passport, voter ID card or PAN card. Proof of the attorney's identity, such as a passport or voter ID card. Two witnesses will also need to provide proof of identity and sign the power of attorney document.
Is a US notary valid in India?
Yes, online notarization is legal and secure to use in India. All transactions through the Notarize platform undergo a dynamic, multi-factor authentication process.
How can I get power of attorney attested by Indian embassy?
The Power of Attorney to be attested by the Consulate should be typed on a plain paper or on a Stamp Paper from India. The Consulate does not provide any Stamp Paper nor is it empowered to attest documents drawn on a Stamp Paper. All Powers of Attorneys should carry signatures and addresses of 2 (two) witnesses.
Can you do power of attorney online India?
Let me tell you how to make general power of attorney online in India. Submit the power of attorney with the Sub-Registrar. Attach the supporting documents with the power of attorney. Attest the power of attorney before the Registrar.
What is a good lawyer fee in India?
5 lakh to 25 lakh per hearing, and High Court Advocates charge around Rs. 3 lakh to Rs. 6 lakh per hearing. The legal fees vary from client to client as the advocates' charge according to the paying capacity of their clients.
What is the duration of Power of Attorney in India?
The durable power of attorney can be used for all types of transactions but, instead of acting within a specific framework, it lasts for the lifetime of the agreement or for so long as the document is valid. Once the document is finalised, the durable power of attorney is over.
How can a US citizen sell property in India?
If you are a Non-Resident Indian, you can sell the property to a Resident Indian without restrictions. If the buyer is a Non-Resident Indian or a Person of Indian Origin (POI), you may need the approval of the Reserve Bank of India (RBI).
How can I sell my property in India from abroad?
- Passport as an Id proof.
- PAN Card to apply for tax exemption certificate after the sale of the property.
- Tax returns, if the property yields earnings.
- Address proof of India and abroad.
- A sale deed as proof of ownership.
Is property sold in India taxable in USA?
India and the US have a double taxation treaty in place. That means you shouldn't need to pay the same taxes twice when you sell your property in India. However, you'll likely still need to report the sale of your property to the IRS even if no tax is due.
What is the power of attorney for Indian property?
Ask A Lawyer
To have an effective POA for the purchase of property, an NRI must sign the POA agreement in the presence of a consulate officer or Notary in the country of residence. Further, such consulate officers must attest to the agreement for it to be valid.
Who gives power of attorney in India?
Registration Of Power-Of-Attorney
In India, where the Registration Act, 1908, is in force, the Power of Attorney should be authenticated by a Sub Registrar only, (Whenever a person signs the document and his attorney presents/ admits execution).
Who can witness a power of attorney in India?
The best witnesses are those that know the signer such as friends, neighbors, or co-workers. What other documents are witnessed? Mortgages, Power of Attorneys, Last Will and Testaments, Deeds, Advance Health Care Directives and foreign documents related to property transfer.