In India, a power of attorney (POA) allows an individual to appoint another person to manage their movable (e.g., bank accounts, shares) and immovable (e.g., land, property) assets.
A POA can be general, allowing the attorney to manage all assets, or specific, limiting their authority to a particular asset or transaction.
For immovable properties, a POA must be registered with the relevant sub-registrar's office to be valid.
A POA can be revoked or cancelled by the principal at any time, and it automatically terminates upon the principal's death or incapacitation. It's essential to carefully draft and execute a POA, as it grants significant authority to the attorney.
