Power of Attorney refers to entrusting power to someone, who can be a family member, business partner or a near one. It verifies that a third person has the authority to take decisions on behalf of you when you are unable to carry out your responsibility or any legal task by yourself. The third part takes charge on your behalf.
For Non-Resident Indians (NRIs) who own property in India, a Power of Attorney (POA) is an essential document. The NRIs require someone to act on their behalf and complete the requirements because they are unable to physically manage the financial and legal activities. A POA helps the NRIs in achieving this objective.
In the matter of real estate, a POA can be used for the following reasons:
Borrow, mortgage, lease, exchange, sell, grant, or collect rent from a property
Manage & settle property disputes
Perform requisite acts as required by banks, insurance companies, or financial institutions to enter into contracts or deal with bonds.
Insuring the property
Payment of taxes
Taking a home loan or a home improvement loan
Why is apostille required for Power of Attorney?
A Power of Attorney must include an Apostille stamp to be used in HCCH Member Countries, according to Hague Convention policy. Apostille confirms that your power of attorney is recognised in the nation. It pertains to security. If a Power of Attorney has an apostille, further legalisation from their Embassy is not necessary.
When is apostille required for Power of Attorney?
Apostille is required on Power of Attorney for overseas purposes, Especially for its use in HCCH Members' Countries.
How long does the Apostille Procedure take time for Power of Attorney?
The Apostille Process for Powers of Attorney consists of several steps. The Home Ministry, SDM, or Chamber of Commerce must review it. There are numerous ways to speed up the procedure, but it generally takes seven working days for the MEA to apostille the POA. The time restriction also varies on where the POA was granted. Speak With Us TO Learn More.
DOCUMENTS REQUIRED FOR ATTESTATION OF POWER OF ATTORNEY
Original passport and copies
Copy of address proof in USA
Valid visa copy
Original visa petition approval notice.
Original I-94 Form and copies
2 passport size photographs
How to Get a Power of Attorney: Steps for Creating a Power of Attorney
STEP 1: On plain paper, write down the power of attorney. Subject to certain restrictions, there is no requirement to create it using Indian stamp paper. Once the power of attorney is prepared, make sure you finish the following tasks.
Please only apply in jurisdictions where you may provide verified proof of address.
Please sign the power of attorney. This paper must be signed by two witnesses as well. It is important to type the applicant's and witnesses' addresses clearly. All of this has to be completed in front of a notary public.
You can also get this done at the Indian Consulate. A public notary is available in every bank and post office.
Most municipalities provide a free notary at the library. There are paid notaries available at USPS locations as well.
STEP 2: Necessary Only for Commercial And Company Matters.
Send a request for an apostille to the Secretary of State. The Department of State, Authentications Office is responsible for signing and issuing certificates under the Seal of the U.S. Department of State (22 CFR, Part 131. The goal is to provide authentication services to U.S. citizens and foreign nationals (e.g. Indians) on documents such as a power of attorney that will be used overseas.
STEP 3: For All Financial and Property-Related Issues.
Send the document to the Indian Consulate. If you are submitting the documents in person, you can sign them in the presence of the officer at the Consulate. You should also have your passport with you.
Only Indian citizens are eligible for the attestation service at any Indian Consulate.
STEP 4: Pay the fee at the Consulate.
STEP 5: Once your power of attorney is attested by the Indian Consulate/Embassy, you can send it to India.
The attested power of attorney that is sent to India should be 'Registered' in India. Once registered, the process is complete and legal and it is ready to be used.
A power of attorney should be carefully drafted and given to someone you trust. Agents should also be very careful before accepting a power of attorney. A poorly worded power of attorney can become the bone of contention between parties.
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