Understanding Special Power of Attorney
A Special Power of Attorney authorizes an agent to perform specific acts for a limited purpose. It is commonly used for specific property transactions court representation and NRI property management.
When to Use SPA
Use SPA for specific transactions like selling a particular property representing in a specific court case collecting a payment or executing a specific contract.
Frequently Asked Questions
What is Special Power of Attorney?
Authorizes agent to perform specific acts for limited purpose or time period.
When to use SPA instead of GPA?
Specific transactions: selling particular property representing in court case collecting payment executing contract.
What is stamp duty on SPA?
Typically Rs. 20-100. If authorizing property sale additional stamp duty may apply.
Is SPA registration required for property?
SPA for property sale must be registered if authorizing agent to execute sale deed.
Can SPA be used for NRI transactions?
Yes NRIs frequently use SPA to authorize family members or agents for property transactions in Kolkata.
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