What are the risks associated in buying a flat on Power Of Attorney (POA) basis?

[acrebazaar]

Hello Guys,

can anybody tell me What are the risks associated in buying a flat on Power Of Attorney (POA) basis?

thanks in advance:wavey:

 

[Ayush Singh]

Hi,

You are lucky to ask this question now. Earlier, it was illegal to register of property transactions involving general power of attorney (GPA),but recently The Delhi government has lifted the ban on registration of property transactions involving general power of attorney (GPA).

According to the latest news, any registered property owner can execute a GPA in favour of their spouse, son, daughter, brother, sister or any other relative or person of his trust to manage his property or empowering him to execute any further deed of transfer including conveyance, sale and gift deed".