This is Vinoth from chennai and I have a genuine request. We have a property on my Grandfathers name (late) and on 2004 my father and his 8 sister have signed and given Power of attorney to a real estate agent. for 3 crore rupees as price to sell at 2004. However after 9 years now in 2013 he is threatening us to sign the deal for his seller at same price when the actual price of property now is more than 20 crore.
And Threatening us that he would sell the property without out knowledge if we don't agree to his deal. How can we stop him from selling this property and is it possible to cancel his POA? He has likely mortgeged the POA so we cannot cacel it.
We would also like to make sure nothing happens on this property without our knowledge. Any leagal advise of how we can stop him or if he can really sell it off without our knowledge ?
And as a grand son, what rights do i have and my father has as a son.
You help on this would be highly appreciated.
1 Answer from Attorneys
The original property papers should be in your custody. The agent cannot do anything with the Power of Attorney (POA), especially if it not irrevocable. Tell the agent point blank the price (Rs. 20 crores) at which the sale deal of the property can be done. To cut off and kick out the agent for good, ensure that you either personally occupy the entire property or lease it out for short term periods ranging from 11 months to 3 years to a third party.
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