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Power of Attorney
A Power of Attorney is a legal document that authorizes one person (the principal) to grant another person (the agent) the authority to act on their behalf in financial, medical, or personal matters.
This document can be issued for a variety of purposes, including but not limited to selling or purchasing property, managing bank accounts, and representing the principal before statutory or government authorities.
Types of Power of Attorney -
It is important to understand the different types of POAs, as they define the scope of authority granted to your representative. In India, the main types of POAs are:
General Power of Attorney (GPA)
A General Power of Attorney grants comprehensive authority to your agent, enabling them to handle a wide range of financial and legal matters on your behalf. This includes selling property, filing tax returns, paying bills, managing bank accounts, and making other significant personal and business decisions.
Special Power of Attorney (SPA)
A Special Power of Attorney provides your agent with limited authority to carry out specific tasks or make certain decisions for you. For example, you might authorize an SPA to sell a particular property or handle a specific legal issue.
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+91-8764447848
+91-8919084868