What is POA document?

The POA full form in document is Power of Attorney document. Let me share my insights about the same.

What Does a POA Document Means?

A Power of Attorney, a legal document that grants authority to an individual or entity (known as the "agent" or "attorney-in-fact") to act on behalf of another person (known as the "principal") in legal, financial, or other matters. Some other facts about POA are as follows;

• There are different types of POA documents, including general power of attorney, special power of attorney, durable power of attorney, limited power of attorney, etc. Each type grants different levels of authority to the agent.

• A POA document typically includes details such as the name and address of the principal and the agent, the scope of authority granted, specific powers conferred to the agent, duration of the POA (if applicable), and any conditions or limitations.

• The POA document must be executed in accordance with the requirements specified under the Indian law, including signing by the principal and witnesses, and in some cases, notarization or registration.

• POA documents are commonly used in various situations, such as property transactions, financial management, legal proceedings, business operations, etc. They allow the principal to delegate authority to the agent to act on their behalf when they are unable to do so themselves.

• The principal has the right to revoke or terminate the POA at any time, as long as they are mentally competent to do so. This can be done by executing a revocation deed or by giving written notice to the agent. 

This is

what POA document means

.

Read more

When you own a property and can’t manage it by yourself it is better to have someone who can act on your behalf. For this, we have the POA document. The Power of Attorney (POA) is a legal document that needs to be executed by the owner of the property so that one or more people can have the authority to act on the owner's behalf. With the help of the Power of Attorney Act, 1888 the Power of Attorney was governed. This is what is known as Power of Attorney document in simple words. 

Now that we know what is POA document let us learn a few more things about POA.

• If you want someone to have the power of attorney you must register POA by visiting the sub-registrar office.

• If the POA is notarized outside India, it can be authenticated by the  Court, Notary Public or any Judge, Magistrate, Indian Counsel or via Counsel or a representative of the Central Government.

• If the owner registers POA among the family members the stamp duty charges can be around Rs. 500.

• If the POA is given to someone else besides the family members extra Rs.100 will be charged.

• The maximum registration fee can be around Rs. 30,000. The registration charges depend on the market value of the property. 

• The owner can remove the Power of Attorney anytime if required.

• Documents required for registration of POA include Aadhar Card, Address Proof, Voter Id Passport or any Identity proof.

I hope you know the meaning of power of attorney document now. Power of Attorney is a controversial term so I could go on and on. But as of now, I am ending here. I hope you find this informative.