Power of Attorney Format for Leave and License Agreement

SPECIAL POWER OF ATTORNEY FOR LEAVE AND LICENSE OPERATIONS

Document ID: POA-LL-2024-001
Effective Date: [Effective Date]
Version: 1.0.2-FINAL
Governing Jurisdiction: [Insert State/Province and Country]

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STATUTORY & LEGAL COMPLIANCE NOTICE

IMPORTANT NOTICE TO PRINCIPAL: This document creates a powerful legal relationship. By signing this Special Power of Attorney, you are granting another person (the "Attorney-in-Fact") the right to enter into legally binding contracts, receive funds, and potentially alienate interests in your immovable property. This document may require mandatory registration and payment of ad valorem stamp duty depending on the Governing Jurisdiction. Consult with legal counsel to ensure this document is registered with the relevant Sub-Registrar of Assurances or equivalent land registry authority to ensure full enforceability against third parties.

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I. PARTIES & RECITALS

1.1 THE PRINCIPAL:
[Full Legal Name of Owner], residing at [Complete Residential Address], holding [Passport/ID Number: _______] (hereinafter referred to as the "Principal").

1.2 THE ATTORNEY-IN-FACT:
[Full Legal Name of Agent], residing at [Complete Residential Address], holding [Passport/ID Number: _______] (hereinafter referred to as the "Attorney").

1.3 THE PROPERTY:
The Principal is the absolute owner and is seized and possessed of the immovable property located at:
[Insert Full Address of the Property including Flat/Unit No., Building Name, Street, District, and Zip Code] (hereinafter referred to as the "Scheduled Property").

1.4 RECITALS:
WHEREAS, the Principal is unable to personally attend to the management, execution of documents, and registration formalities regarding the licensing of the Scheduled Property due to [Reason: e.g., overseas residence / professional commitments];
AND WHEREAS, the Principal desires to appoint the Attorney to act on their behalf to execute a Leave and License Agreement and manage the licensee relationship.

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II. EXHAUSTIVE OPERATIVE CLAUSES

1. SCOPE OF POWERS AND ENGAGEMENT

The Principal hereby nominates, constitutes, and appoints the Attorney to do all or any of the following acts, deeds, and things in the name and on behalf of the Principal: 1.1 Negotiation: To negotiate the terms and conditions of any Leave and License Agreement with prospective licensees regarding the Scheduled Property. 1.2 Execution: To sign, execute, and deliver the Leave and License Agreement, including any renewals, extensions, or amendments thereto. 1.3 Registration: To present the executed Leave and License Agreement before the relevant Sub-Registrar of Assurances or competent authority for registration; to admit execution thereof and do all acts necessary to complete the registration process. 1.4 Possession: To hand over possession of the Scheduled Property to the Licensee and to take back possession upon the expiry or earlier termination of the License.

2. COMPENSATION, FINANCIALS, AND PAYMENT TERMS

2.1 Receipt of Funds: The Attorney is authorized to receive on behalf of the Principal all Security Deposits, License Fees (Rent), and utility reimbursements. 2.2 Banking: To deposit such funds into the Principal’s Bank Account: [Bank Name], [Account Number], [IFSC/SWIFT Code]. 2.3 Expenses: The Attorney is authorized to pay from the received funds any statutory dues, property taxes, maintenance charges, or brokerage fees necessitated by the transaction. 2.4 Invoicing: To issue valid receipts and invoices to the Licensee for all payments received.

3. TERM AND TERMINATION

3.1 Duration: This Power of Attorney shall remain in full force and effect from the Effective Date until [Expiry Date] or until the completion of the registration and handing over of the Scheduled Property, whichever is later. 3.2 Revocation: The Principal may revoke this Power of Attorney at any time by providing written notice to the Attorney; however, such revocation shall not affect any third-party rights created by the Attorney prior to the receipt of such notice. 3.3 Survival: This Power of Attorney shall not be affected by the subsequent incapacity of the Principal unless otherwise required by law.

4. REPRESENTATIONS AND WARRANTIES

4.1 Principal’s Title: The Principal warrants they have clear and marketable title to the Scheduled Property and full legal capacity to grant these powers. 4.2 Attorney’s Conduct: The Attorney warrants they shall act in the Principal's best interest, exercising the standard of care of a fiduciary, and shall maintain accurate records of all transactions.

5. INDEMNIFICATION AND LIMITATION OF LIABILITY

5.1 Indemnity: The Principal hereby agrees to ratify and confirm all lawful acts done by the Attorney under this Power of Attorney and agrees to indemnify and hold the Attorney harmless against any losses, costs, or damages arising from the Attorney's performance of the powers granted herein, provided the Attorney has acted in good faith and without gross negligence. 5.2 Limitation: The Attorney shall not be liable for the default or breach of contract by any Licensee or third party.

6. DISPUTE RESOLUTION AND ARBITRATION

6.1 Mechanism: Any dispute arising out of or in connection with this document shall first be attempted to be resolved through good-faith mediation. 6.2 Arbitration: If mediation fails within thirty (30) days, the dispute shall be referred to and finally resolved by arbitration under the [Insert Arbitration Rules, e.g., AAA or ICC] by a sole arbitrator. The seat of arbitration shall be [City, Country]. The language shall be English.

7. GOVERNING LAW AND JURISDICTION

7.1 This Power of Attorney shall be governed by and construed in accordance with the laws of [Insert Jurisdiction]. The courts of [Insert City] shall have exclusive jurisdiction over any matter arising hereunder.

8. MISCELLANEOUS PROVISIONS

8.1 Severability: If any provision of this document is held invalid or unenforceable, the remaining provisions shall continue in full force. 8.2 Entire Agreement: This document constitutes the entire understanding between the Principal and Attorney regarding the Scheduled Property's licensing. 8.3 Counterparts: This document may be executed in counterparts, each of which shall be deemed an original.

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III. EXECUTION & FORMAL SIGNATURE BLOCKS

IN WITNESS WHEREOF, the Principal has hereunto set their hand and the Attorney has accepted this appointment on the date first above written.

FOR THE PRINCIPAL: Signature: _____________________________________ Printed Name: [Full Legal Name of Principal] Title: Principal / Property Owner Date: [Date]

FOR THE ATTORNEY-IN-FACT (Acceptance): Signature: _____________________________________ Printed Name: [Full Legal Name of Attorney] Title: Attorney-in-Fact Date: [Date]

WITNESS 1: Signature: _____________________________________ Name: _________________________________________ Address: _______________________________________

WITNESS 2: Signature: _____________________________________ Name: _________________________________________ Address: _______________________________________

NOTARIAL SEAL & CERTIFICATE: (To be completed by a Notary Public) State of [State] County of [County] On this day, [Date], before me appeared [Principal Name], known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged that they executed the same for the purposes therein contained.

_____________________________________ (Signature of Notary) My Commission Expires: [Date]

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IV. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Drafting & Customization: Open this document in Microsoft Word or Google Docs. Replace all bracketed text [...] with the specific details of the parties and the property. Ensure the property description matches the Title Deed or Sale Deed exactly.
2. Verify Authority: Ensure the Principal is the sole owner. If the property is co-owned, all co-owners must sign as Principals or execute separate PoAs.
3. Stamp Duty: Calculate the stamp duty required for a Special Power of Attorney in your jurisdiction. In many regions, PoAs for property transactions require high-value stamp paper to be valid for registration.
4. Execution (Signing):
   • The Principal and Attorney must sign in the presence of two (2) witnesses.
   • The witnesses should not be related to either party or have a financial interest in the property.
5. Notarization: Take the signed document to a Notary Public. The Notary must verify the identity of the Principal (typically via Passport or National ID) and affix their seal.
6. Registration (Crucial): For Leave and License agreements, most jurisdictions require the PoA to be registered at the Sub-Registrar's office. Present the original PoA, ID proofs, and registration fees at the local land registry office.
7. Digital Execution: If using DocuSign/Adobe Sign, ensure your jurisdiction accepts "Remote Online Notarization" (RON). If not, physical wet-ink signatures and physical notarization are mandatory for real estate PoAs.
8. Record Retention: The Attorney should keep the original registered PoA. The Principal should retain a certified true copy. Provide a copy to the Licensee during the execution of the Leave and License Agreement to prove authority.