Virat Kohli
Indian cricketer Virat Kohli has given the responsibility of his luxurious bungalow located in Gurugram to his elder brother Vikas Kohli. For this he has created a legal document, which is called Power of Attorney. Virat lives in London with his wife Anushka Sharma and children, so he is not able to come to India frequently to look after his property matters. In such a situation, through power of attorney, he gave powers to his brother so that he could easily do all the work related to his property.
His Gurugram bungalow is said to be worth around Rs 80 crore, and he also has a flat there. After the power of attorney, Vikas Kohli has got the right to take any legal or government action related to this property. With this, Virat will not have to come to India again and again and Vikas has been allowed to handle all the work on his own behalf.
What is power of attorney?
A power of attorney is a legal document in which a person (called the principal) gives permission to another person (called an agent or attorney) to perform specific or general actions on his or her behalf. This right can be related to property, banking activities or any kind of legal work.
When the owner i.e. the principal gives power of attorney, then the agent has full authority to handle that property or work, just like the owner himself does. This means that the decisions taken by the agent are valid for the principal.
How many types of power of attorney are there?
There are mainly two types of power of attorney. The first is General Power of Attorney in which the agent gets permission to do all the work of the principal. That means the agent can take any decision on behalf of the owner.
The second is special or limited power of attorney, in which the agent is given authority only for a specific task. For example, if you have to sell or buy a house, you can give power of attorney to the agent only for that work.
How is a power of attorney made?
To make a power of attorney, the document is prepared on a non-judicial stamp paper (which is worth Rs 100). After this, it is very important to get it notarized, so that it becomes legally valid. In this document, signatures of both the parties and signatures of two witnesses are also required.
When this process is completed, the agent has the authority to act on behalf of the principal. There is no dispute or problem regarding this later, because it is an official document.