Power of attorney is key for the remote home-owner

Unable to take care of your property? You can give a trusted person the Power of Attorney (POA) to undertake activities on your behalf

- POOJA.MAHIMKAR

If there is one thing that the last year has taught us, it is how to run ‘business as usual’, remotely.

We learnt how to manage work and play remotely. Similarly, if you are in a different city or are unable to take care of your property physically due to any reason, you can appoint someone to carry out those duties for you by granting him Power of Attorney (POA). POA is often considered by NRIs or elderly people who cannot travel to take care of routine property-related businesses.

What is Power of Attorney (POA)?

Technically speaking, a Power of Attorney (POA) is a written instrument authorizing a specified person (constituted attorney) to act on behalf of the person executing it (the principal).

Usually, people who find it difficult to take care of matters themselves due to old age, health issues, or because they reside in some other city, can opt for POA and allow a trusted individual to carry out the deed on their behalf.

“There are essentially two types of POA one may execute for property management:

• General POA (GPA), which gives the constituted attorney unrestricted and general powers to rent, manage and take various decisions regarding a property;