How to make a Special Power of Attorney Deed?
It is a legal document which authorizes one person (called an agent) to act on behalf of another (the principal). This Special Power of Attorney (SPoA) is specific to the property in India. It is irrevocable, and the principal must consent to approve what is done by the SPoA.
Making a Special Power of Attorney Deed
To make a Special Power of Attorney, the following has to be done:
1. Drafting – Draft deed giving all the specifications.
2. Printing on Stamp paper – Print document on a Stamp paper of appropriate value. This step is mandatory for the Power of Attorney deed unless you are living abroad.
3. Registration– Register the deed (for property transactions only) in a Sub-Registrar office where the estate is situated by paying appropriate charges.
4. Signature – The drafted power of attorney should be duly signed by the Grantor (a person who gives the power). Two Witnesses should attest it by confirming the deed. If it is being registered the signatures are to be executed in the presence of the Registrar.
An individual who grants the power in the deed is called as Grantor or Principal. The individual to whom the power is granted is termed as the Agent or Attorney.
Terms that must be included in Special Power of Attorney Deed
The following are the essential details that a Special Power of Attorney deed should contain:
1. Grantor Details– The name, age, residence and occupation of the person who grants the power of Grantor to the Attorney should be notified first.
2. Attorney Details– The name, age, father’s name, residence and occupation of the individual to whom the power is granted (Attorney) should be defined next.
3. Aim for Giving Power– The valid reason for granting the authority should be stated explicitly.
4. Performing Act Details– State the details of the particular or specific actions that the attorney has been allowed to perform like for, E.g. To present a document for the registration or power to appear in a Court case.
5. Date and Place– Date and place of executing the deed should be mentioned explicitly and also date when power starts operating should also be discussed separately.
How to make power of attorney legally valid?
To make Special Power of Attorney created by you legally valid, follow these steps:
1. A deed should be made on a Stamp paper of suitable value according to the Laws of the State where it is to be registered.
2. Grantor should sign the deed in all pages at the bottom.
3. Two Witnesses should sign and attest the deed at the end of the document.
Detailed and systematic legal advice from property lawyers is always required for entering into such agreements and is vital so that your interests are safeguarded.