Axis Bank General Power of Attorney India offers a gateway to Non Resident and Resident Indians to carry out various banking activities with respect to buying a new home and/or applying for a home loan. This general power of attorney grants powers to a representative to act on your behalf as if you are making decisions.
You must register this legal document in the office of the Sub-Registrar when it is signed and executed in India. Alternately, you must get it duly stamped within three months of signing and issuing it outside India. The power of attorney form has detailed descriptions of powers you allot to the agent. Therefore, read the four-page document in entirety along with your nominated agent to understand its broad and sweeping powers. In addition, you must notarize this document from competent Indian Embassy Officer, Axis Bank Manager, or Notary Public for its execution and legal standing.
What You Must Know Before Proceeding
- This Axis Bank General Power of Attorney India is irrevocable. You need permission from the Axis Bank to cancel this legal document for whatsoever reason.
- Your appointed agent has powers to act on your behalf to carry out various financial transactions with Axis Bank pertaining to procuring a new home and a home loan. However, this document does not permit your appointed agent to take healthcare decisions for you on your behalf.
- This general power of attorney permits the agent to participate in all activities required for registration of the residential property with concerned government offices as well as take possession of the property on your behalf.
- You authorize your agent to create an equitable mortgage on the property as necessitated by the Bank to secure the loan.
- You and co-borrower if any must duly date and sign this document for its execution and legal standing.
Steps to Prepare Axis Bank General Power of Attorney India
- Please enter your name on the first line of the form.
- Then enter your father’s legal name on the second line.
- Enter your detailed residential address on the third line.
- The fourth line requires the name of the agent / attorney in fact under the appointment.
- Enter the father’s name of the agent / attorney in fact under the appointment on the next line reserved for the same.
- The next line has space for entering detailed residential address of the agent / attorney in fact under the appointment.
- Enter the name of the place, date, and sign on the subsequent line. Co-borrower if any must enter the name of the place, date, and sign on a separate line.
- Enter your and co-borrower’s address on separate lines in the required format.
- Please notarize this document before Axis Bank Manager, a Notary Public, or competent Indian Embassy officer to complete preparation of Axis Bank General Power of Attorney India.