Power of Attorney Procedure

[NiSn]

I am an Indian Citizen and Permanent Resident in canada. I have bought a property in India for which I need to apply for a home loan. For home loan, I need a general power of attorney. My questions are

1) Will i need to get PoA both Notarized as well as signed/Validated by Embassy in Toronto?
2) The PoA will be to assign powers to my Mother who is in India. I would obviously not have her signatures on the PoA form. Will Notary & Embassy both sign and validate the incomplete form?
3) Will every page of PoA be required to be notarized and validated by Embassy? Which would mean a significant cost. Also how many copies will be required?

Any one who knows pls help.

 

[steaky]

Would it be easier for your mother be the property owner for now and then transfer to you once you are in India? If under your name, you realise there are certain tax implications you need to report in your Canadian tax return?

 

[NiSn]

What will be the Tax implications for reporting in Canadian tax return? For now we are planning to register jointly between Me & my Mother.

For Loan, she doesnt have any income so I have to provide PoA. Any idea on PoA questions above?

 

[Felix4freeddm]

What will be the Tax implications for reporting in Canadian tax return? For now we are planning to register jointly between Me & my Mother.

For Loan, she doesnt have any income so I have to provide PoA. Any idea on PoA questions above?

Hi ,

Were you able to determine the process for Toronto? If yes, can you guide me on how to go about.

My plan is below:

1. Get the format from a lawyer in India via a soft copy
2. Sign the document with necessary photo id proof and photographs
3. Get it notarized from a lawyer here in Toronto
4. Visit Ministry of Government and Consumer Services- Service Ontario (222 Jarvis Street, Toronto) to get the document authenticated
5. Head to the Indian Embassy in Toronto and for their seal and stamp etc.

Question I had is:

1. Is the above process accurate?
2. Has the document to be signed by the person I am giving the POA to and then sent here to be authenticated?
3. Any thing I am missing or steps to be followed?