Q. My uncle has given Power of Attorney to his
friend to develop certain properties, negotiate and sell them. He has also
received the consideration. The stamp
duty paid on Power of Attorney is Rupees One Thousand only and the Power of
Attorney is not registered. The Attorney holder has developed the property and
has sold to various purchasers. But now uncle wants to gift some portion of the
said property to his sister. Since the stamp duty paid on Power of Attorney is
only Rupees One Thousand and not as per sale deed and as it is not registered,
can my uncle claim that the sale deeds executed by his friend, Power of
Attorney holder as irregular and not enforceable and gift the property to his
sister.
A. The stamp duty payable on Power of Attorney given to a promoter to develop the
property and to sell the property is only Rupees One Thousand and not as
payable on sale deed. As such the Power of Attorney given by your uncle to his
friend is properly stamped. The Registration of such Power of Attorney is also
not mandatory as per Indian Registration Act. If the person other than the
executor of the sale deed presents the document for registration as a Power of
Attorney holder and admits the execution; such Power of Attorney requires
registration. But if the person who is signing the documents and the person who presents the sale deed for registration an admits the execution are one and the
same, such Power of Attorneys need not be registered. In the instant case, the
Power of Attorney holder himself has executed the sale deed and has admitted the execution.
Further
your uncle has received the consideration, and his friend has developed and
sold the property in furtherance of powers given to him.
As
such your uncle cannot claim that the sale deeds are irregular not enforceable
and also cannot revoke the Power of Attorney. He has no right to gift a portion
of the said property to his sister.
Q. I am founder of an educational institution
situated on the outskirts of Mysore. The institutions is fast developing and
needs expansion. There are various agricultural lands surrounding the
institution. But sale and purchase of Agricultural lands is restricted in
Karnataka. Though the owners are willing to convert the land and then sell it is costly, which our institution cannot afford. Please advise how can I acquire
additional land for the educational institution.
A. There
is provision under Karnataka Land Reforms Act. Section 109 of the act empowers
the government exempt any land in any area, from the provisions of the sections
63, 79-A, 79-B or 80 to be used by educational institutions recognised by state
or central government for non-agricultural purpose. The limit is four units of
land; you may approach the District Revenue Authorities, for exemption of the restrictive provisions of sale/purchase of agricultural land, which you want topurchase.
No comments:
Post a Comment