To prosecute the said suit and proceedings, to sign and verify all plaints, pleadings, applications, petitions or documents before the court and to deposit, withdraw and receive document and any money or moneys from the court or from the defendant either in execution of the decree or otherwise and sign and deliver proper receipts for me and discharges for the same. To apply for inspection and inspect documents and records, to obtain copies of documents and papers. To compromise the suit in such manner as the said attorney shall think fit.
To do generally all other acts and things for the conduct of the said suit as I could have done the same if I were personally present. And I hereby for myself, my heirs, executors, administrators and legal representatives, ratify and confirm and agree to ratify and confirm whatsoever our said attorney shall do or purport to do by virtue of these presents.
That the said attorney shall demand, collect and receive in my name and on my behalf all debt, loans advantages and other claims do to me. The are further empowered to take all lawful proceedings and means to recover and receive the said loans advances and debts etc.
They are empowered to prosecute and defend to lawful action suits and claims and refer the matter to arbitrators, file the suit, compromise the suit and execute such instruments as they think proper and necessary. The said attorneys are empowered to borrow from time to time such loans and advances as they think proper in my interest and furnish security of movable and immovable property on such terms and conditions as the think proper. The said attorneys are empowered to sell, exchange, surrender, lease or depose of any houses and buildings lands, etc, which belong to me in such manner as they thing proper and expedient.
The said attorneys are empowered to invest my monies as my attorneys as any of the think proper and expedient. The said attorneys are empowered jointly and severally to deposit the monies they collect on my behalf in my bank account.
The said attorneys are authorised to draw, accept, endorse, negotiate, retire, and pay any bills of exchange, promissory note cheques, and other negotiable instruments, as they think proper and expedient in my interest. The said attorneys are authorised to operate to my bank account, close the bank account open bank account in some other bank as they think proper and expedient in my interest.
The said attorneys are authorised to let out or to give on lease my properties to the persons they think proper, recover rent, already due, and recover the rent as may due in future from time to time. They are further authorised to sue the persons for recovery to rent, to compromise the sue and do all other works concerning with it.
The said attorneys are authorised to take the property on lease and execute lease deed for and on my behalf as my attorneys. They are authorised to call upon shares belonging to me and attend the meetings of any company of which I am the shareholders.
The said attorneys are authorised to appoint, or remove the agents to look after my estate and fix the salaries etc. The said attorneys are authorised to do generally of all such things and acts as may attorneys or attorney, which shall be binding on me. Witnesses :. Power of Attorney to Execute a Deed of Sale. WHEREAS I have agreed to sell my property situate at … and which is more particularly described in the Schedule hereunder written, by an agreement for sale dated … entered into with Mr.
AND I, hereby agree to ratify all lawful acts and things done by the said attorney in pursuance of the powers herein contained.
Signed and delivered by. To ask, receive and recover from all receivers, farmers, tenants and all other occupiers whatsoever whether holding under a written lease or agreement or otherwise. To appoint any fit person to be steward, bailiff, receiver or servant for the management of my lands and premises and to recover rents thereof and the same or any of such stewards, bailiffs, receivers or servants at pleasure to remove and displace as the attorney shall think fit.
To contract with any person for leasing for such period at such rent subject to such conditions as the attorney shall see fit, all or any of the said premises and any such person, to let into possession thereof and to accept surrenders of leases and for that purpose to make and execute any lease or grant or other lawful deed or instrument whatsoever which shall be necessary or proper in that behalf.
To pay or allow all taxes, rates, assessments, charges. To enter into and upon my lands and buildings and structures whatsoever and to view the state and defects for the reparation thereof and forthwith to give proper notices and directions for repairing the same and to let manage and Improve the same to the best advantage and to make or repair drains and roads thereon.
To sell either by public auction or private treaty or exchange and convey transfer and assign any of my lands and buildings and other property for such consideration and subject to such covenants as the Attorney may think fit and to give receipts for all or any part of the purchase or other consideration money And the same or any of them with like power, to mortgage charge or encumber and also to deal with my immovable personal property or any part thereof as the Attorney may think fit for the purpose of paying off reducing consolidating, or making substitution for any existing or future mortgage.
To purchase, take on lease or otherwise acquire such lands, houses, tenements and immovable property generally as the Attorney may think fit or desirable. To prepare a layout by sub-dividing any land into plots and obtain necessary approval of any local authority for the same if required. To develop any land or plot of land vacant or with any building or structure thereon by constructing new building or buildings thereon and on Flat ownership basis, to sell the flats and other premises therein on such terms as the Attorney may think fit and to transfer the land with such building to any co-operative housing society or company or on Apartment ownership basis and to execute necessary documents in that behalf.
To enter into any development agreement with any developer or builder authorising him to develop any of my properties as mentioned above and to do and execute all acts and deeds as may be required to be done or executed. To sell or to concur in selling in private sale or In any other manner any of my stock, merchandise, goods, chattels and other effects, articles and things for such consideration and subject to such conditions as the Attorney may think fit and to receive the proceeds thereof and to give receipt for all, or any part of the sale proceeds or other consideration money.
To pledge, hypothecate or charge or concur in pledging hypothecating or charging with, to or id favour of a Bank or Banks or any other financier body or Individual any personal or moveable properties, goods, chattels, merchandise, commodities, effects and things for such considerations and subject to such conditions as the Attorney may think fit and for that purpose to sign, execute and deliver all necessary instruments and deeds of mortgage.
Also to draw, make, sign, accept or endorse pledge, hypothecate or otherwise negotiate all or any foreign or Inland bills of exchange, hundi, cheques, orders for payment of money and promissory notes and to sign, seal, execute, deliver, endorse, accept, assign or transfer all mortgage deeds, bills of lading, delivery orders or other symbols or Andicia of or documents of title relating to goods or merchandise, policies of assurances, charter parties, ships certificates.
To purchase, take on hire, borrow or otherwise acquire machinery, tools, spare parts, raw materials, merchandise commodities, goods, wares, articles, effects and things and to deal in and with the same and to dispose of the same in such manner and for such consideration as the Attorney may think fit. To borrow any sum of money on such terms and with or without security as the Attorney may think fit for any of the purposes of these presents.
To deposit any money which may come to his hands as such attorney with any banker. To continue and or to open new, current and or overdraft accounts in my name with any Banks or Bankers and also to draw cheques and otherwise to operate upon any such accounts. To engage, employ and dismiss any agents, clerks, servants or other persons in and about the performance of the purposes of these presents as the Attorney shall think fit.
To sell any of my present or future investments and for that purpose to employ and pay brokers and other agents in that behalf and to receive and give receipts for the purchase money payable in respect of such sales and to transfer any of my investments so sold to the purchaser or purchasers thereof or as he or they may direct and for these purposes to sign and execute all such contracts transfer deeds and other writings and do all such other acts as may be necessary for effectually transferring the same.
To accept the transfer of any share, stocks, debentures stocks, annuities, bonds. To attend, vote at and otherwise take part in all meetings held in connection with any company or corporation with which I am concerned as a member, shareholder or otherwise or In relation to any of my investments and to sign proxies for the purpose of voting thereat or for any other purpose connected therewith as freely as I myself could do. Out of any of my moneys in his hands or under his control to pay all calls that may be lawfully made upon me or other expenses that may be Incurred in relation to any of my Investments and to give security for payment of the same.
To exercise all other rights and privileges and perform all other duties which now or hereafter may appertain to me as a holder of debentures or shares or stock in any company or corporation. To ask, demand, sue for. To settle any account or reckoning whatsoever wherein 1 now am or at any time hereafter shall be in anywise interested or concerned with any person whomsoever and to pay or receive the balance thereof as the case may require.
To receive every sum of money whatsoever which now is or at any time hereafter may be due arising or belonging to me upon or by virtue of any mortgage, charge, pledge hypothecation or other security whatsoever and on receipt thereof to make, sign. To compound with or make allowances to any person for or in respect of the aforesaid debts or any other debt or demand whatsoever which now is or shall or may at any time hereafter become due or payable to me and to make or receive any composition, dividend thereof or thereupon and to give receipts, releases or other discharges for the whole of the same debts, sums or demands or to settle compromise or submit to arbitration every such debt or demand and every other claim.
To commence any suit, action or other proceedings In any Court of justice and before any public officer or Tribunal for the recovery or enforcement of any debt, sum of money, right, title, Interest, property matter or thing whatsoever now due or payable or to become due or payable or in anywise belonging to me by any means or on any account whatsoever and the same action, suit or proceedings to prosecute or discontinue or become non-suit therein If the Attorney shall see cause And also to take such other lawful ways and means including proceedings in execution.
To defend any suit or legal proceedings taken against me in any court of law and to do all acts and things as are mentioned above. To accept service of any writ of summons or other legal processes or notice in any suit or legal proceedings and any person to represent in such court civil or criminal, or revenue court or tribunal or before any officer or other Tribunal whatsoever.
To make any declaration or affidavit in proof of any debt or debts due or claimed to be due to me in any proceedings taken or hereafter to be taken by or against any person firm or company under any Act or Ordinance for the time being in force for the relief or otherwise of insolvent debtors or the winding up of companies and to attend all meetings of creditors under any such proceedings and to propose, second or vote for or against any resolution at any such meeting and generally to act for me in all proceedings whether by way of bankruptcy or liquidation by arrangement or by composition which may be taken against or for the relief of any debtor as the Attorney shall think fit.
To exercise any power and any duty vested in me whether solely or jointly with another or others as executor, administrator, trustee or in any other fiduciary capacity including powers and trusts to sell or lease land or to receive and give good receipts for money so far as such power or duty Is capable of being validity delegated.
And also to appear before the Registrar or Sub — Registrar of any District or Sub-District appointed or to be appointed under any Act or law for the time being in force or otherwise for the registration of deeds, assurances, contracts or other Instruments and then and there or at any time thereafter to present and register or cause to be registered any deeds, assurances. To enter into, make, sign, seal, execute, deliver, acknowledge, perform all engagements, contracts, agreements, deeds, declarations, bonds, assurances and other documents, papers, writings and things that may be necessary or proper to be entered into, made signed, executed, delivered, acknowledged and performed for any of the purposes of these presents or to or in which I am or may be party or in any way Interested.
Wealth-tax, Gift-tax, as also before any Tribunal, or Court. To sign on my behalf Income-tax, Wealth-tax and Gift-tax returns and to submit the same on my behalf to the respective Taxing Authorities,. To sign, declare and affirm on my behalf all the applications, documents. And also for the better and more effectually doing, effecting and performing the several matters and things aforesaid to appoint from time to time or generally such person or persons as the Attorney may think fit as his substitute or substitutes to do, execute and perform all or any such matters and things as aforesaid and any such substitute or substitutes at pleasure to remove and to appoint another or other in his or their place.
In general to do all other acts, deeds. Matters and things whatsoever in or about my estate, property and affairs or concur with persons jointly Interested with myself therein in doing all acts, deeds, matters and things herein either particularly or generally described as amply and effectually to all Intents and purpose as I could do in my own proper person if these presents had not been made.
AND I, the abovenamed ……….. As long as the principal is conscious, and of sound mind and body, the medical POA will not be triggered. Some medical POAs are written to end when the principal recovers from the incapacitating condition.
You can have different POAs for different situations and appoint different agents to hold them as well. Do not expect your will to serve as a substitute for a power of attorney. A will designates the distribution of your property after death, while a POA is related to decisions made during your life. However, you can have a living will in addition to a healthcare POA.
A living will usually addresses specific issues and wishes related to medical treatment if you have a terminal condition, or related to dying such as the extent to which lifesaving measures should be used. A living will does not always deal with other important medical issues, however, such as whether you would decline dialysis or a blood transfusion.
These are the kinds of concerns that can be directly articulated in a durable power of attorney for healthcare decisions. The person you choose as your agent must be someone you trust without hesitation.
Depending on how you've worded your POA, the person you select will have access to and be able to make decisions about your health, home, business affairs, personal property, and financial accounts. It is useful to contact each institution you do business with to be certain that your POA authority will be honored.
Some banks and financial institutions have their own forms to complete. You may name more than one person to act as your agent and ask that they work together. However, bear in mind that they may not always have the same view of what needs to be done. You should also appoint a successor agent, in the event that the agent you originally chose cannot serve in that capacity when the need arises. Signing a POA does not deprive you of control over your personal affairs.
It is a contingency document that becomes a powerful instrument only when it is needed. Choosing someone to hold your power of attorney and specifying that it will operate even if you lose capacity ensures that you have a plan in place for administering your financial and personal affairs if you are ever unable to do so. This gives you more control over how that process will be handled should the need ever arise. If you move to another state, your power of attorney should remain effective; however, the American Bar Association recommends that you use such a move to update your power of attorney.
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We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. It may limit some of them to making just certain decisions as mentioned in the Power of Attorney forms.
Moreover, Signing the Power of Attorney format for authorized signatory is equivalent to signing a blank cheque and so one must select the agent carefully. Additionally, to limit the decisions of the agent, there are mainly four types of Power of Attorney, which include:. It is a good decision to take consultation from an experienced lawyer before deciding the Power of Attorney format India.
Moreover, the Power of Attorney format for authorized signatories varies according to the rights and provision of authority for the legal decisions. Depending on the agent, they decide the amount of stamp duty. In other cases, one has to pay the stamp duty according to the market value of the property or the assets.
The stamp duty amount varies depending on the Power of Attorney. These may include the following:. Multiple agents : More than one agent can be named by a POA, either with the authority to act separately or required to act jointly.
Having two children separately authorized to manage routine items can be a convenience if one becomes unavailable for some reason while requiring two to agree on major actions like selling a house can assure family agreement over major decisions.
Say one child is a busy financial expert living in a distant city, while another works part-time and lives conveniently close by. You can have one POA that names the first to manage your investment portfolio and another that names the second to manage your routine daily expenses and pay monthly bills.
Naming multiple agents can cause problems if disputes arise between them. For instance, if two children are required to act jointly in managing an investment account but disagree over how to do so, it may be effectively frozen. So when choosing two children to act jointly as agents under a POA, be sure they have not only the skills for the task but personalities to cooperate. Mistakes—and worse, acts of self-dealing—committed by your agent can be extremely costly. This is especially so with a durable POA that gives broad control over your affairs during a time when you are incapacitated.
You must be convinced that the agent will follow your instructions, can do so, and will pursue your wishes even over the objections of other family members if need be. The powers are far too important to be granted other than on the merits of trustworthiness and ability. Beware of naming a child as your agent if:. Be aware of the dangers of theft and self-dealing created by a POA, even when your agent is your child.
As family circumstances change, periodically review and update the POAs you have created. You can revoke a POA simply by writing a letter that identifies it and states that you revoke it, and delivering the letter to your former agent. Some states require such a letter to be notarized. Then create a new POA and deliver it to your new choice of agent.
A power of attorney can provide you with both convenience and protection by giving a trusted individual the legal authority to act on your behalf and in your interests. Adult children who are both fully trustworthy and capable of accomplishing your wishes may make the best agent under your POA.
Be sure your agent is trustworthy and capable as a first requirement, whomever you name. If you are the child as opposed to the parent in this situation, you face a different set of obstacles.
Parents often are reluctant to give others power over their affairs. If you have a parent who is reluctant to do so, try the following ideas to persuade them. Warn of the dangers of not having POAs. If a parent becomes incapacitated and unable to manage their affairs without a POA in place that enables a named agent to step in and do so, then nobody may have the legal right to do so. It then will be necessary to go to court to seek to be named as a conservator or guardian for the parent, a course that may prove costly and slow—and could be contested, causing family conflicts.
Suggest customized POAs for their needs. There are many different kinds of POAs, and a person can have more than one.
A parent who benefits from one POA is more likely to then become open to using others. The creator of a POA may, and should, be concerned about the risk that the agent will abuse the powers received under it.
Or have them name two agents and require they agree on major transactions, such as the sale of a home. Persons of all ages gain valuable protection from having a durable POA, as one can become unexpectedly incapacitated at any stage of life. One way to encourage a reluctant parent to create a durable POA is to create one for yourself and ask your parents to join you by doing the same.
Trusted professional advisors, such as a lawyer , accountant , and doctor, can help persuade parents of the wisdom and necessity of adopting POAs. Obtaining POAs from your parents can provide valuable benefits to both them and the entire family. If they are reluctant to grant broad powers at once, you may still be able to convince them to do so gradually. A person must be mentally competent to create a power of attorney. Once a parent loses the capability to manage their affairs it is too late, and court proceedings likely will be necessary.
There are many good reasons to make a power of attorney, as it ensures that someone will look after your financial affairs if you become incapacitated. You should choose a trusted family member, a proven friend, or a reputable and honest professional.
Remember, however, that signing a power of attorney that grants broad authority to an agent is very much like signing a blank check —so make sure you choose wisely and understand the laws that apply to the document. Power of attorney POA is a legal status granted to somebody that allows them to act on your behalf.
The person given POA may have either broad or narrow legal authority, depending on how it is spelled out in the POA document, to make legal decisions about one's property, finances, or medical directives. The scope of legal authority granted by POA is laid out when it is established. Furthermore, the person that is granted power of attorney has a legal fiduciary duty to make decisions that are in the best interests of the person for whom they are representing.
Making a power of attorney "durable" means that it remains in force even if the person they are representing becomes mentally or physically incapacitated. An example of this would be if the principal goes into a coma or suffers amnesia. A durable power of attorney, however, does not persist after the client's death.
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