Revocable Power Of Attorney
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A revocable power of attorney is a legal document that grants an individual (known as the “principal”) the ability to appoint someone else (known as the “agent” or “attorney-in-fact”) to act on their behalf in various matters, such as financial, legal, or medical decisions.
It can provide protection against potential abuse or misuse of authority, as the grantor can revoke the power of attorney at any time.
Registering a Revocable Power of Attorney with the help of legal professional can provide assurance to clients about the legality and validity of the document. A lawyer can also provide expert guidance and assistance in the process, which can help clients save time, avoid potential disputes, and ensure a smooth and efficient registration process.
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How to get Power of Attorney registered
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Understanding the Revocable POA
Discussing the requirements of the principal and the terms and conditions which are to be included in a Revocable POA with the lawyer.
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Drafting the Revocable POA
The lawyer drafts your document according to the requirements.
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Final Revocable POA
After the draft is ready, the lawyer then defines the legitimate Revocable Power of Attorney.
Understanding the Revocable POA
Discussing the requirements of the principal and the terms and conditions which are to be included in a Revocable POA with the lawyer.
Drafting the Revocable POA
The lawyer drafts your document according to the requirements.
Final Revocable POA
After the draft is ready, the lawyer then defines the legitimate Revocable Power of Attorney.
Contents of Power of Attorney
Details of Parties
POA describes the details of the person assigning the Power of Attorney and of the party receiving the powers (Agent)
Date and place of execution
The POA states the date and place where it was executed and when it will come into force.
Reasons for granting POA
POA will state the reasons of why it is being given, to ensure that the act that the parties are seeking to complete is not against the law.
Validity
Registering a POA gives it a legal authorization and gives the power of actions to the agent to act for another person
Powers and Responsibilities
Revocation: The document may include language allowing the principal to revoke a power of attorney at any time, for any reason.
Benefits of Registering a Revocable Power Of Attorney
Flexibility
A revocable power of attorney is flexible in that the principal can choose to grant as much or as little authority as they want to the agent. The document can be tailored to the specific needs and circumstances of the principal.
Privacy
By granting a power of attorney to an agent, the principal can keep their affairs private and avoid the need for court proceedings to appoint a guardian or conservator.
Control
A revocable power of attorney allows the principal to retain control over their affairs and make decisions for themselves as long as they are able. It also allows the principal to revoke the agent's authority if they are no longer comfortable with their decision-making.
Prerequisites for registering Power of Attorney
Draft of the POA
Draft of the original written POA
Identification Proof
Identity proof of the parties involved
Proof of Property
Electricity bill or tax receipt (for property-related POA)
Photograph
Passport size photograph of both parties
Witnesses
2 witnesses along with their ID proofs (identity and address)
Registration Process
1
Discuss your requirements with a lawyer
2
Power of Attorney is drafted by the Lawyer
3
Pay Stamp Duty and generate challan
4
Schedule an appointment at the Sub-Registrar Office
5
Pay Registration Fees
6
Signatures of 2 Witnesses in the presence of the Sub-Registrar
7
Power Of Attorney is Registered at the Sub-Registrar’s office
Deliverables for the Power of Attorney Registration
Customized POA draft
Registered POA (original) is home delivered.
Frequently asked Questions
What is the difference between General POA and Revocable POA?
A general power of attorney (POA) is a legal document that grants an agent broad powers to act on behalf of the person who granted the POA, usually for a specific period of time. It may be revocable or irrevocable depending on the terms of the agreement. A revocable POA, on the other hand, allows the person who granted the POA to revoke or cancel it at any time.
Can a Revocable Power of Attorney be revoked at any time?
Yes, a Revocable Power of Attorney can be revoked by the principal at any time, as long as they are mentally competent. The revocation can be done by creating a new power of attorney document that explicitly revokes the previous one or by executing a written revocation notice.
Under what circumstances can a Aower of Attorney be revoked in India?
There are several reasons why a person may choose to revoke a power of attorney, such as if they no longer trust the agent, if the agent is not fulfilling their duties properly, if the agent has become incapacitated, or if the circumstances that led to the granting of the power of attorney have changed.
Can multiple agents be appointed under a Revocable Power of Attorney?
Yes, a revocable power of attorney can appoint multiple agents to act on the principal’s behalf. The document should specify whether the agents can act jointly (where all agents must agree on decisions) or independently (where each agent can act alone).
How long does a Revocable Power of Attorney last?
A revocable power of attorney can last for a specified period of time or until the principal revokes it. If the document does not specify an expiration date, it may remain in effect until the principal’s death, unless revoked earlier.
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