Mother and her two daughters, the owners of a plot of land, gave Power of Attorney to a person for developing the property, seven/eight years ago. The attorney holder constructed Flats in the land and sold, but transferred no financial effects to the Owners(especially to the two daughters), instead avoiding them now. Can the two daughters now write to the attorney holder to submit and clarify the details of development done by him and transfer the proportionate financial gains to them? more
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Without knowing the exact intention written in the POA one cannot give proper advice, Whether the said POA had any condition of right of sale in favor of the developer , if yes upto what extent of devoloped property had he right to sale for himself, and what was the share of the daughters and mother in the devoloped property? As of Law no contract even in the form of POA is valid if there is no consideration to any of the parties to the POA. If daughters have got no consideration they may file a civil suit asking the possession of the property. more
Aug 24
IF presently the issue is ONLY about financial accounts or gains, THEN the claim/demand could be time barred due to the provision of Limitation Act. POA can be rescinded by giving proper notice, to all parties concerned. Keep Smiling .... Hemant Agarwal READ ARTICLES ON: http://hemantagarwal21.blogspot.in/?view=sidebar more
Aug 03
Power of attorney must have been executed along with some Developers agreement. without the same POA must be a blanket transfer of powers to do anything. So first findout the said agreement and payment if any made during the development of the flats, thereafter next course of action be decided. more
Aug 02
You said that you wrote the POA. The condition not mentioned. Such case, it is not correct to give advice. more
Aug 02
Thank you for responding to my posts. I shall get in touch with all details for getting your guidances in the matter. more
Aug 02
