Can we say that Power of Attorney means to give a legal authority for property to someone? Yes, it is an individual right to manage the property, like selling, renting out, or managing legal matters on behalf of the owner of the property. Power of Attorney is also known as Mukhtar Nama in Pakistan. We also know that to get a Power of Attorney in Pakistan is a straightforward process that involves a short payment of fees and documentation.
However, the procedure is important and you have to be serious to know the types of Power of Attorney (POA), Mukhtar Nama rules, and its requirements. In this article, we will discuss each and everything about Power of Attorney for property for your easy access about Mukhtar Nama. So stay connected with Raabty till the end:
As we know, the general power of attorney which is also known as Mukhtar Nama has different three types. Each type will be discussed in detail. It includes:
General Power of Attorney means giving full authority to the agent on behalf of the rules. General Power of Attorney gives a right for an agent to take any legal stand or complete any task for the principal in their absence. It is also known as Mukhtar Nama Aam in Pakistan. The owner can set the period for Mukhtar Nama Aam as well.
We know that it is opposite to general legal authority. Special Power of Attorney means giving very limited authority to the agent to perform a specific legal task. Also, It is known as Mukhtar Nama Khas in Pakistan.
Legal Power of Attorney means that the giving person makes the lawyer of the property owner representative in a certain case instead of any other person. It is also known as Wakalat Nama in Pakistan. It is a very common type of POA.
There are some important requirements for Power of Attorney for property in Pakistan. The applicants, grantor, and agent are required to provide these documents:
As we know getting a Power of Attorney (POA) document depends on some points. For example, like there is no fee for POA if the agent is the blood relation of the donor. However, the value of the property determines the registration fee. The 1% of the value of the property is the registration fee for Power of Attorney for property in Pakistan. And, there is a 2% tax on the registration fee as well. It should be noted here that, the Mukhtar Nama is to be printed on stamp paper of Rs.500 to Rs. 5,000.
In recent years, overseas Pakistanis also used the Power of Attorney or Mukhtar Nama for property, if they were unable to visit the country often. The government of Pakistan has enabled overseas to grant Mukhtar Nama from their residing country without even visiting Pakistan. However, they are required to be present in the embassy of their residing country to get the application of POA validated and attested.t
As we know for sale of property, power of attorney comes under the category of Special Power of Attorney, also known as Mukhtar Nama Khas. In this type of power of attorney, the agent can only sell a property, but they cannot perform any other legal task. On the opposite, Power of Attorney for property management comes under the category of General Power of Attorney. where the agent can take on different legal tasks, such as selling, renting, registering a property, or managing the finances of the property.
Can sale deed be executed by the power of attorney, yes it is. Just contact Raabty to get professional assistance in finding the best residential properties, or any type in Pakistan’s famous housing societies.
Lasty, Power of Attorney (Mukhtar Nama) is a legal document that allows someone to manage property on behalf of the owner. It can be General, Special, or Legal, depending on the authority given. The process of obtaining a POA in Pakistan is simple and requires specific documents and fees. Overseas Pakistanis can also use POA without visiting the country. A Special POA is needed for selling property, while a General POA allows broader management. Understanding the rules and requirements is important to avoid legal issues. For expert assistance, contact Raabty to help with property-related matters in Pakistan.
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