In the broadest sense, the purpose of a power of attorney or ammoktarnama is to grant someone the authority to act on behalf of another individual. Many individuals must execute power of attorney documents at various times and for various purposes. Particularly those who reside overseas or will travel abroad. But he owns land in the country.
There are insufficient individuals in the country to manage or sell all these properties. Suppose you are an expatriate living in a foreign country. You own some real estate in your country. However, you cannot travel to Bangladesh to manage or sell this land. If you so choose, you can then designate someone to care for the land. You may delegate the authority to any reliable law firm in Bangladesh to conduct any task in your absence, not just those pertaining to real estate. If you have the budget or would like to hire the best law firm in Dhaka to delegate your tasks, we would recommend a firm like Tahmidur Rahman Remura.
The law governing the execution of the power of attorney:
The Power of Attorney Act of 1882 has been repealed in Bangladesh and the Power of Attorney Act of 2012 has been enacted. This Act went into force on July 1, 2013, per Notification No. 197-Act/2013 dated June 26, 2013. This legislation defines power of attorney as a document by which a person lawfully distributes authority to another individual to carry out the responsibilities outlined in the document on his behalf. In some instances, it cannot be delegated despite the fact that it is possible to do so. Execution of wills or filing for registration of wills executed by the donor under Rule 4 of the Powers of Attorney Rules, 2015, execution of powers of adoption, execution of declarations relating to donations and bequests, execution of trust deeds, and such other matters as the Government may declare by general or special order..
Important details about the execution of a power of attorney in Bangladesh:
A power of attorney for delegation must be in writing. It is a legal document. Through this document, the Moktar represents the original owner in the donation, sale, transfer, maintenance, mortgage, rent collection, etc. of any property. In this Moktarnama document, it should be made explicit in what capacities he has been granted authority; that is, what he can and cannot do. Moktarnama is often of two varieties. One is the Ammoktarnama, or general Moktarnama. The unique Khas Moktarnama is another example. A power of attorney is often awarded to the grantor. However, customized Moktarnama must be conducted for particular tasks. Generally, deeds unrelated to the transfer of real estate must be notarized by a public notary. But land deed must be registered. Otherwise, it has no basis in law.
Power of attorney Registration Timeline:
This registration must be completed within three months following the Moktarnama’s execution. Additionally, a power of attorney may be appointed in the event of litigation. In this instance, court permission will be sought. Depending on the type of document, a non-judicial stamp of a specified sum must be affixed. In this instance, you must know the amount of stamp required for every given document. Currently, pictures of both the donor and the recipient are required for the transfer of any document, buy and sale, development, and loan application.
The manner in which Bangladeshi expatriates exercise power of attorney:
If a person residing or staying abroad wishes to provide someone power of attorney, he must have a thorough awareness of Bangladesh’s laws and regulations pertaining to the term. In this instance, the document must be executed and attested by a legal expert, written appropriately, and transmitted through the embassy. The Power of Attorney must then be confirmed or authenticated by an Assistant Secretary of the Bangladeshi Ministry of Foreign Affairs. After that, it must be submitted to the Deputy Commissioner’s revenue office and stamped with the stated sum.
A serial number and date will be assigned to the document at this point. This is the number of the document containing the power of attorney. The most significant aspect of a power of attorney is to be cautious about the person’s reliability. Moktar frequently transfers or sells property in his own name or falsely. Once again, to save yourself from future hassle you should hire a Barrister or a reputed top drawer law firm in Bangladesh. The original owner will then be in jeopardy. There are no fewer lawsuits regarding this. Therefore, the document’s terms must be written clearly. It is also the owner’s responsibility to maintain regular communication with the recipient of the authority.
Revocation of Power of Attorney in Bangladesh:
If the power of attorney can be revoked, then yes Revocation of a power of attorney document is possible. At any point, a general power of attorney can be cancelled or revoked. To cancel, you must submit a request to the Registrar of the district where the registration was completed. Aside from this, the notarized document must be annulled by the notary public.
In the end of the General Power of Attorney The grantor may revoke the power of attorney by providing thirty days’ notice by registered mail to the grantee. In addition, the attorney’s responsibilities may be waived with 30 days’ notice to the principal. In addition, if the Moktarnama is made for a specified duration, it will be deemed null and void at the conclusion of the period.
Likewise, a contract for a specific work shall be considered null and void upon completion of that work. Upon the demise of one of the parties, the joint power of attorney is null and void. If the grantor intends to cancel a deed, he or she must submit an application to the District Registrar of the location where the deed was registered. The term “cancelled” will be written on the Moktarnama. In light of this application, the Registrar shall alter the same. Upon receiving a request for the cancellation of a Moktarnama, the Registry Officer shall notify all Registrar’s Offices in his district or the head office of any other district. The applicant is responsible for the cost of postage associated with notice mailing.
Conflict resolution under the Power of Attorney Act:
For any disagreement emerging from a power of attorney registered under the Registration Act, the parties must first attempt to resolve the matter amicably. Otherwise, they will proceed via an intermediary. If this fails, the parties may proceed to court. Termination or cancellation of any Power of Attorney under Rules 12 and 13 of the Power of Attorney Rules, 2015 by the grantor or receiver or their legal representative or any other interested person in the form required in Schedule ‘B’ of the Rules, to the office of the concerned Sub-Registrar. To be noted in Book No. 1 and forwarded to the appropriate officer for necessary action.
When it comes to property legal concerns in Bangladesh, Barrister Tahmidur from Tahmidur Rahman Remura is one of the greatest law firms in Bangladesh. They have good contacts with foreign embassies, such as those of the United States, Canada, Australia, and China, and a sterling reputation among all international investors in Bangladesh.You can reach out to this elite law firm in Dhaka, by contacting Tahmidur Rahman Remura by sending them an email to [email protected]. As you are getting referred by us, their consultants will gladly assist you with Bangladesh company registration.