Property on GPA (General Power of Attorney) - Is it safe? (Hindi) - YouTube

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MUSIC

Namaskar, my name is Mukul, and welcome to Asset Yogi.

Where we unlock the knowledge of finance and real estate.

A lot of subscribers ask me.

Whether we can buy the property by agreement to sell or agreement sale?

Or will the property be transferred to our name by the General Power of Attorney?

Look, there is a lot of confusion in this.

Even today people sell many properties on GPA.

But legally this is not the right way.

What are its limitations and risks?

In this video, I will throw light on all these details

What are the things you should keep in mind?

What is the actual process of ownership transfer

We will cover all these things in detail

So you must watch this video till the end so that you understand better how the title is transferred

And how do you become the title owner in actual

So let's go straight to the blackboard

So let's understand this with an example

Suppose this is a property and he is the original title owner.

Title owner means that the property papers are in this person's name.

That is, the sale deed or Conveyance deed is in the name of this title owner.

That is why we call him title owner

If he wants to sell its property, he executes a sale deed.

He is a new buyer,

So there's no problem with that.

In this way, the property can be easily sold.

There is another option in the market

Many people sell property on an agreement to sell or general power of attorney.

Agreement to sale and General Power of Attorney is not considered as a sale

He will not be considered as the original title owner.

There are many such properties for sale.

Such properties are also sold in Delhi and many more places across India.

But this is not considered a valid sale.

Title transfer is not considered.

then this person will be considered as a GPA holder

What is the purpose of GPA

GPS only has the power to perform a specific task.

Suppose the original title owner resides outside India.

and he doesn't have time

he can't come for some reason

Or he is sick

The Condition is not right or there is an emergency.

He cannot come to register the sale deed due to any reason

So in such a case, he can give GPA to any of his relatives.

Or suppose he can't even collect rent

Suppose he lives outside India and wants to maintain the property

Want to get the rent collected from someone else.

So in this case he can give a GPA But with GPA title don't get transferred

So what can be done with the GPA

GPS can sell it further.

Now the GPA has a general power of attorney.

He can make final sales to any third person

So he is the third party, So finally he will be the new title owner.

If the sale deed is registered then title transfer is considered in the same case

If we talk about quick facts.

As we talked about title transfer

It is considered valid only after the registered deed

You have to pay that stamp duty and registration charges

If you will not pay the stamp duty and you will not register your sale deed in the sub-register office.

So title transfer will not be considered valid.

So as I said earlier the title can not be transferred by the GPA

And neither does the title can not be transferred from the agreement to sale.

As we discussed, GPA is given for doing some tasks.

Agreement to sale is just a sale agreement

That we will execute the sale deed.

The title cannot be transferred by sale agreement also.

So only after the sale deed execution

Or by the execution of conveyance deed or gift deed

Till the property is not registered and stamp duty is not paid

title transfer will not be considered valid

In fact, a rule of the Supreme Court also came in 2011.

In which Supreme Court has said clearly that title can not be transferred through GPA

and the number of transactions that are taking place through the GPA

They will be treated as canceled and they will not be considered as a title transfer.

It does not mean that the GPA has no value

If GPA is given for a certain task that is valid.

Suppose the GPA has the authority to sell

So he can sell as we saw in this process

And can transfer to any third person that property cannot be transferred in his name.

So as we said GPA has some specific tasks.

He can collect the rent on the behalf of the owner.

He can maintain and sell the property.

And when we talk about selling the property

So GPA and sale deed both have to be registered

Only then that final title transfer will be considered valid

And on the GPA property

If someone has taken a GPA and he claims his ownership of it.

So loan against GPA property is also not given

You should also remember this

So these were all the quick facts related to GPA property

if you ask for my advice

If you are looking to buy a property and you are getting that property on GPA

I will not advise you that you should transfer property through GPA

You should buy a property whose all the titles are clear.

and sale deed can be executed of that property

I hope you will like this video then please like and share it.

If you have any suggestions or want to suggest any topic for future videos

So you can comment below.

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till then keep learning keep earning

and be happy as always