What is Special Power of Attorney?

As everyone said, a Special Power of Attorney (SPA) in India is a legal document that grants a person (called the "attorney" or "agent") the authority to act on behalf of another person (called the "principal") for a specific and limited purpose. This is what does special power of attorney mean. Unlike a General Power of Attorney (GPA), which gives broad powers, an SPA is restricted to a particular task which I mentioned below.

What is Special Power of Attorney for Property?

A person residing abroad might execute an SPA to authorise a relative to sign documents related to a property sale, appear in court, or handle a bank transaction on their behalf.

1. Once that task is completed, the SPA automatically becomes invalid. It cannot be used for any purpose beyond what is expressly mentioned in the document.

2. In India, an SPA must be executed on non-judicial stamp paper and should ideally be notarized for authenticity. 

3. If it is meant for court matters or registration of immovable property, it may also need to be registered with the local sub-registrar.

4. In legal terms, the SPA offers a practical solution when the principal cannot be physically present to complete a transaction. 

I hope you understand the special power of attorney meaning.

Consult NoBroker Legal Experts for Drafting Special Power of Attorney

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Before I tell you about the special power of attorney India, I think you should know what a power of attorney actually means. 

A power of attorney is a legal document that enables one person to designate another person or organisation to manage their affairs in their name. The principle, grantor, or donor is the person giving the other permission to act on his or her behalf. The power of attorney (POA) holder, also known as the donee, attorney, or agent, is the person to whom the powers are granted. 

Special power of attorney meaning

In a special power of attorney the principal may provide either broad or specific powers. Due to the authority granted to him by the power of attorney, the agent is able to make decisions on behalf of the principal in situations where he is not present, including those involving business, finances, property, etc.

A legal document signed by the principle that gives the agent permission to carry out certain specific actions on his behalf is known as a special, specific, or limited power of attorney. For instance, an agent may be granted permission to do certain business-related duties, liquidate or manage business accounts, etc.

When the power of attorney is restricted to a certain set of duties, it becomes a special power of attorney. The agreement will outline the specific duties and obligations that the agent is expected to carry out on behalf of the principal.

What is special power of attorney benefits?

• In situations where you are unable to handle your finances or other legal matters yourself, having a special power of attorney for property ensures that they are handled according to your wishes. 

• Your agent will be given the authority to act on your behalf if you are involved in a serious accident or develop a terminal illness, for example.

Remember that the special power of attorney is only effective while you are alive. The real estate special power of attorney would expire if you passed away. The management of your assets would thereafter follow the guidelines outlined in your will, or trust, if you have one. Without a will, a person's possessions are distributed in accordance with the laws of their state governing inheritance.

This is all you need to know about special power of attorney India.