My son, who is a US citizen, wishes to sell his property in India but cannot be physically present to do so. Is it possible for him to execute a Power of Attorney in the US in my name, and would it be acceptable in India?
Yes, your son can execute a specific Power of Attorney in the US in your name to sell his property in India. However, the validity of the document would depend on the specific procedure of each Indian state. To ensure its acceptability in India, the Power of Attorney should be executed and attested by the Indian consulate in the US, and adjudicated by the collector under the Indian Stamp Act, 1899 once received in India. Proper stamp duty must be paid within three months of receipt. Once the Power of Attorney is registered by you, the holder, you can act on the powers conferred by the document and enter into a transaction to sell the property.
In the event that a nominee for a Fixed Deposit (FD) dies before the FD holder and the FD holder also passes away before changing the nominee, who can claim the amount - the legal heir of the nominee or the legal heirs of the FD holder?
The legal heirs of the FD holder are entitled to claim the amount, not the legal heirs of the nominee. Nomination is a temporary arrangement, and ultimately, the legal heirs of a deceased person are entitled to their properties in the absence of a Will. The nominee acts as a trustee and is only a fiduciary for the ultimate beneficiary.
