A power of attorney is a legal document that allows one person (the "principal") to appoint another person (the "agent" or "attorney-in-fact") to act on their behalf in legal and/or financial matters. The extent of the authority granted to the agent can vary and can be limited or broad. A power of attorney can be general, granting the agent wide-ranging powers, or it can be limited to specific acts or decisions. It can also be durable, meaning it remains in effect even if the principal becomes incapacitated, or it can be revoked at any time by the principal.
A Power of Attorney for a non-resident Indian (NRI) is a legal document that grants authority to another person to act on behalf of the NRI in India. The NRI can use this document to delegate their powers to a trusted friend or family member, or to a professional attorney. The authority granted through a Power of Attorney can include buying or selling property, managing bank accounts, and conducting other legal or financial transactions in India. The NRI must execute the Power of Attorney in accordance with the laws of their home country and the laws of India, and the document must be stamped and registered in India to be legally valid.
Murari Garg
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24 сен 2024
