A new circular issued on the Power Bond Registration system
Posted on: 11/Oct/2018 2:31:53 PM
In order to clarify the prevailing confusions and misunderstanding on the existing procedure/system for Power Bond Registration, the state government department of registration has issued a new circular.
When an individual chooses to accord the authority to another person to sell his/her property, the process or the system of the registration in the government is known as ‘Power Bond Registration’.
According to this system, the person according the authority is called the 1st Person. The person to whom this power is accorded is known as the agent. So, the 1st person can accord the right to sell his/her property to the ‘agent’.
When the ‘agent’ registers this, he/she has to submit a valid document that the person who is according him this right is still alive.
The Department of Registration issued an order in the year 2013 that this proof of the 1st person being alive to be given by the agent is to be submitted 30 days in advance before the other documents required for registration are submitted for the registration process.
However, there had been complaints received that some of the registration officials have been insisting that the above proof of the 1st person being alive must be obtained and given on the date of registration and thus the concerned persons are facing undue hardships.
In this situation, the apartment of Registration has now issued an explanation in this regard. In this, it is clarified that the valid document proof of the 1st person (one according authority) being alive must be submitted by the `agent` (the person receiving the authority) and obtained by the Department of Registration 30 days in advance of the registration. If this proof of document had been submitted or obtained more than 30 days in advance, it will not be valid.
