Singapore’s New Buyer’s Stamp Duty Rates: What You Need to Know
To increase the progressivity of the Buyer’s Stamp Duty (BSD)
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In Singapore, a power of attorney is a legally binding document that allows an individual, referred to as the “donor” or “principal,” to delegate the authority to act on their behalf to another person, known as the “donee” or “attorney.” A POA can be drafted for a specific purpose, or it can be more general in nature.
Most commonly used POA is the one for HDB flat and property transactions, which allows an agent to buy, sell, lease or sign agreements related to the property on behalf of the donor who is unable to be present or needs assistance. In addition, a POA can also serve the purpose of a Lasting Power of Attorney (LPA), enabling the agent to act on the principal’s behalf in the case of mental incapacity.
In Singapore, a power of attorney is a legally binding document that allows an individual, referred to as the “donor” or “principal,” to delegate the authority to act on their behalf to another person, known as the “donee” or “attorney.” A POA can be drafted for a specific purpose, or it can be more general in nature.
Most commonly used POA is the one for HDB flat and property transactions, which allows an agent to buy, sell, lease or sign agreements related to the property on behalf of the donor who is unable to be present or needs assistance. In addition, a POA can also serve the purpose of a Lasting Power of Attorney (LPA), enabling the agent to act on the principal’s behalf in the case of mental incapacity.
Our role is to provide expert assistance in the preparation and execution of POAs to ensure that your interests are protected. We offer comprehensive power of attorney legal services in Singapore, from advising on the different types of POAs available to drafting legally sound and personalized documents that reflect your specific needs.
Our experienced team of lawyers offers legal advice & representation throughout the entire POA process, including the revocation or amendment of POAs when required. With our expertise and attention to detail, we aim to make the process of creating and using POAs as smooth and stress free as possible for you.
Our services for power of attorney in Singapore include:
Creation of legally binding POA documents that allow delegation of authority.
Advice on different types of POAs available, including general, specific, and LPA.
Ensuring that POA documents meet legal requirements and are properly executed.
Guidance on the appropriate use of POAs and their legal implications.
Helping you understand your rights and responsibilities as a principal or attorney.
Providing personalized & confidential legal services to ensure smooth & seamless execution.
The requirements for a valid power of attorney in Singapore are as follows
Yes, you can revoke or amend a POA in Singapore if your circumstances change or if you no longer wish to grant someone authority to act on your behalf. It is important to seek legal advice before revoking or amending a POA to ensure that the process is handled properly and according to legal requirements. The revocation must be in writing and signed by the donor in the presence of at least one witness who is not the donee. The donee must also be notified of the revocation.
To increase the progressivity of the Buyer’s Stamp Duty (BSD)
Aligning with the objectives of Property Cooling Measures introduced by
Selling your residential property is one of the most significant