Mumbai | 20 Nov, 2021 (1 year, 4 months ago)

General Advice

power of attorney versus gift deed

Hi, Due to some unavoidable reason, me and my friend are planning to buy a property which is going to be registered in my name. However, I will be giving a irrevocable power of attorney soon after so he can take all decisions regarding sale / rent etc. I do not want any rights per se. While our relation is absolutely great, but we want to take legal precaution if there is some dispute comes between us. Hence my question is : 1. Is getting an irrevocable power of attorney full proof? Can it be challenged later? 2. Is it possible to do a gift deed instead of POA? But I suppose some taxation issue will come in gift deed registration? What is the best way to make sure that even in future if disputes come, this transaction is full proof? thx
21 Nov, 2021 | 07:06

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