POWER OF ATTORNEY:
Power of Attorney is a written authorization by virtue of which the principal appoints a person as his agent. The Principal confers his authority to an agent, who perform specified acts on his behalf. The main object of such type of instrument is that agent has to act in the name of principal and principal also purports to rectify all acts and deeds of his agent done by him under the authority conferred through the instrument.
A Power of Attorney is held to confer only those powers which are specified therein and the agent may neither go beyond nor deviate from the terms of this instrument.
Registration of Power of Attorney:
Power of Attorney, if executed to deal with financial matters must be attested by two witnesses and its registration with Concern Registrar is mandatory.
Challenge to Power of Attorney:
Power of Attorney can only be challenged by the principal and not by the third party.
Use of Power of Attorney:
A Power of Attorney may be used for many purposes including the transfer of property, Purchase of Business, making a contract, representation in Court, Transfer of Inheritance Shares etc.
Power of Attorney Executed in Foreign Country:
Power of Attorney executed in a foreign territory has no evidentiary value unless the same has been attested by the Pakistan Embassy / Consulate in that country as per the mandatory requirement of law. The Power of Attorney can be executed abroad in presence of two witnesses and after the attestation Pakistan Embassy. Then Documents shall be sent trough courier services and same may be attested from Ministry of Foreign Affairs’ office.
Be aware of Fraud which execution Power of Attorney:
It is strongly recommended that the Power of Attorney should be executed through a competent lawyer as only he can protect your legal rights. Always give specific powers to attorney/agent for a specific purpose. Even, if you are giving a general Power of Attorney, specific powers with details should be written and agent should be restraint from selling the property to his own friends or family members. Always instruct the attorney/agent that all payments should be deposited in the principal’s such and such Bank accounts directly from the buyer.
Revocation of Power of Attorney:
A principal, who has executed the power of Attorney may cancel the Power of Attorney at any time or same shall be defective after its expiry or completion as mentioned in Power of Attorney. It shall be cancelled automatically at the death of the Principal.
An affidavit is a written statement on oath by a person to deny or affirming anything in favour of himself or another person before one or more persons those have authority to administer same for discovery and advancement of truth and right.
The Affidavit comprises of particulars of Deponent, address, date and location of its execution. it should be attested by an Oath Commissioner with his seal and stamp, duly authorised by Government.
An affidavit is an easy way to give evidence/surety before any court or other Government institution.