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It is an instrument that allows you to appoint a person or organization to manage your affairs, if you become unable to do so. However, all power of attorneys are not created equal. Each type gives your power of attorney a different level of control to the person who will be making decisions on your behalf. Hence, it is a written authorization to represent or act on another behalf in private affairs, business or some other legal matter. Most importantly, a person authorizing the other to act in his behalf is principle, granter or Donnie. And the person accepting such authorization is an agent, grantee etc.
Power of Attorney is used for wide variety of reason. The act of granting someone a power of attorney i no way means that you are in capable of making personal decision. It is simply a legal way of allowing the individual to act for you if needed. When people go out of the country for an extended time period they often bestow power of attorney on a son, daughter, close relative or friend. When the power of attorney is no longer required it can be revoked with document called revocation of power of attorney.
In many cases, a general or specific power of attorney need not required to be registered. The question of registration arises only in a power of attorney given for the sale of immovable property. Indian registration act does not make a power of attorney compulsorily registerable. However, the Supreme Court has recently rules that a power of attorney given for the sale of immovable property should be registered such power of attorney should be used within 3 months from the date of its execution.
A parent should create power of attorney for a child in the event they are unable to take care of their child. The document is not intended for long term use but rather for short term occasions. Where a parent will be a way from their child for some business trip abroad, or official work or both the parents fall ill is and are unstable to think for themselves. Which allows for a person of their choice someone who is in close relationship with the family of a child to make decisions in order to take care of that child. A power of attorney of minor child is also known as guardianship power of attorney, medical power of attorney, minor power of attorney etc.
“Power-of-attorney” includes any instrument (not chargeable with a fee under the law relating to court-fees for the time being in force) empowering a specified person to act for and in the name of the person executing it;
A power of attorney is a deed which requires authentication as required under section 85 of the India evidence Act, 1872. A power of attorney authenticated before a Registrar may be revoked by an application on a paper without any court fee. A power of attorney is in general revocable in its nature but in cases where the same as part of security for any debt. It is irrevocable notwithstanding the death of the debtor until the debt is repaid.
Any notice given to, or information obtained by the agent, provided it be given or obtained in due course of the business transacted by him for the principal, has, as between the principal and third parties, the same legal consequences as if it had been given to or obtained by the principal.