Why Power of Attorney is a Game-Changer in Property Affairs
A power of attorney can be used for several important property-related purposes, including:
A buyer can designate an attorney-in-fact to finalize the purchase in cases when they are unable to be present in person. This is particularly helpful for Non-Resident Indians (NRIs) who are purchasing Indian real estate from outside.
Property Purchase:
Property owners can expedite the procedure for a seamless transfer of ownership by assigning selling duties to an attorney-in-fact.
Property Sale:
On behalf of the property owner, an attorney-in-fact can take care of things like maintenance, tenant relations, and rent collection.
Property Management:
A Power of Attorney permits an attorney-in-fact to represent the principal in court during real estate legal issues.
Property Litigation:
Overall, a Power of Attorney significantly enhances efficiency and convenience in handling property affairs.