Irrevocable Power-Of-Attorney Deed Format

Irrevocable Power-Of-Attorney

Irrevocable Power-Of-Attorney Deed Format

This power-of-attorney is made the ……… day of ……… by me, AB of, etc.

Whereas I have obtained this day from CD of, etc., the sum of Rs. ……… as and by way of loan agreeing to repay the same with interest thereon at the rate of 18 per cent per annum: And whereas it has been agreed between me and the said CD that the said CD would be authorised by me to sell my house No. ……… (or, etc.) situate at, etc., and out of the proceeds of such sale adjust, appropriate and pay himself and liquidate the debt due to him: Now this deed witnesses that for the consideration as aforesaid I hereby nominate, appoint and constitute CD my aforesaid attorney, in my name and on my behalf:

To enter into any agreement for sale, to sell, exchange, surrender, lease or otherwise dispose of any of my property or properties or portion thereof and to transfer realise and mortgage or charge or to execute or enforce any powers of sale or other power under any such mortgages or charges or otherwise to realise or obtain the benefits thereof in such manner as my said attorney shall think proper.

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To adjust, appropriate and pay himself at the first instance out of the proceeds of such sale less all costs, charges and expenses the amount due to him and thereby to liquidate the debt payable by me to him and to pay the balance thereafter to me.

And I hereby agree to ratify and confirm all and whatsoever my said attorney shall lawfully do or cause to be done by virtue of this deed. This power-of-attorney is irrevocable provided however that the constituted attorney shall keep and maintain proper account of the sale and allow me inspection thereof as and when demanded.

Description of the property

In witness whereof the parties hereto have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by AB                                                                   AB

in presence of:

Accepted by CD in the presence of:                                                                   CD

Irrevocable Power-Of-Attorney Deed Format

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