Power of attorney is a written document used to authorize some other person to act on behalf of the principal (the owner of the property). POA for property sale are used when the owner authorizes some other person to buy or sell the property.
Types of Power of Attorney Used for Purchase of Property
- General power of attorney: This kind of POA in UAE authorizes the individual to act on the behalf of the principal to deal with real estate purchases. This kind of POA gives broad powers to an attorney also enables to do all the duties which are not limited until the date mentioned in the POA.
- Special power of attorney: This POA only gives specific powers to the attorney and only can act for special situations. This is mostly used for transaction which is limited and can be completed quickly.
Requirements for the Validity of POA Transactions
- For a POA to be valid it has to be prepared in Arabic or English with a legal translation into Arabic and to be notarized by Notary Public in the UAE.
- When a POA is entered in some other country then it should be authenticated in UAE embassy and then it should be attested in ministry.
- All the real estate transactions issued by DLD have issued various policies and restrictions related to POA which can help to gain protection to registered owners and also prevent misuse of POA.
Points to Consider When Dealing with Property Sale
- The person granting POA should have the capacity to grant the POA
- Consider the agent and the powers granted to the agent
- They should also consider the agent must be familiar with all the rules of POA and also fulfill all the obligations.
Application of POA for Purchase of Property
- POA is mostly used for real estate transaction and is used when the principal is used to make decisions actively on behalf of principal
- This POA can be a garantee for transferring of assets when the principal is unavailable. When the principal is out of the country the agent is given powers to deal with real estate transactions
- POA is also granted when the principal is under a condition when they no longer possess or enact a decision regarding a property.
- POA has been granted by the principal that is at least 18 years and is capable of understanding the POA.
Validating a POA
The validity of POA for purchase of property is less than two years only then the Dubai land department accepts such attorneys. It is very important to ensure that the POA should be renewed so that all the powers granted can be enforced.
Revocation of POA for Purchase of Property
- When there is an end date in POA has been reached
- When the person who granted POA has lost his mental capability
- Death of the agent
- Incapacity of the agent
- When the agent is involved in some fraud or criminal cases
POA drafting Services in UAE
POA for the property sale is very difficult to deal with and also drafting such an attorney can be a complex nature. If you are looking for a lawyer to draft your POA, contact us. We have a team of experts who can help to deal with all the property related cases and also can give their expert opinion regarding such a case.
What are the types of POA?
The two types of POA are general and special POA but the other type of POA is limited and unlimited Durable and nondurable.
What is the duration of POA?
The duration of POA can be mentioned in the attorney document. They mention the exact date of the document about the start and completion of such powers. The POA is valid only until the date mentioned.