Can I issue a general Power of Attorney to my parents in India before purchasing property, or do I need specific property details first?

Yes, as an NRI, you can grant a General Power of Attorney (PoA) to your parents in India before purchasing property. While a General PoA allows your parents to act on your behalf in various matters, it’s more effective to include specific property details if possible.

Key Points:

• General vs. Specific PoA:
  A General PoA grants broad powers, but for property transactions, it’s best to specify details like property type, location, and developer. If the property is not yet identified, you can give your parents the authority to act once you choose the property.

• Process:
  Draft the PoA clearly, mentioning the powers granted, including authority for property dealings. You can issue a General PoA and later update it with property specifics once identified.

Example:

An NRI in the UAE granted a General PoA to his parents in India to handle all property matters. Later, when he decided on a property in Bangalore, a supplemental document specified his parents' authority to finalize the purchase.

Future Trends:

• Digital POA:
  Digital platforms could simplify POA creation and management, especially for NRIs.

• Blockchain:
  Blockchain could ensure secure and transparent property transactions, linking the POA to the property deal.

This approach offers flexibility, ensuring your parents can handle the property purchase on your behalf.

For assistance with drafting a General or Specific Power of Attorney for property transactions in India, contact LawCrust Consulting at +91 8097842911.