Do you own an inherited property in India and are wondering whether you can sell the property? Well, fret not! You can easily sell your inherited property in India. However, there is a range of legal proceedings, documentation, tax implications, and other intricacies involved, which can only be managed by seeking help from a lawyer. Read on to find out how NRIs can sell their property in India and how legal help can make the entire process seamless and effortless:
To whom Can NRI sell their property?
Dealing with property selling can be complex, especially when you are an NRI. Understanding to whom you can sell your property is the first step to getting started with property selling. Below are the eligibility criteria for selling property as an NRI:
Indian Residents
NRIs can sell their property to Indian citizens without facing any sort of restrictions and conditions. The procedure involved in selling is the same as selling any other property in India, which is governed by local rules and authority.
Other NRIs or Foreign Nationals
An NRI can also sell their property to a foreign national or another NRI. But, in such a case, the transaction executed between the two parties should comply with the directives and rules as set by the Reserve Bank of India. From securing the required approvals and adhering to the guidelines, everything must be followed for a smooth and legal sale transaction.
Legal Protocols for Selling Inherited Property in India
Inherited properties can also be sold by NRIs. Here is a quick insight into the requirements for selling inherited properties in India
Property Title and Transfer
To be able to sell a property in India as an NRI, it is crucial that the inherited property is transferred to the name of the legal heir from the name of the deceased person. All the necessary documents concerning the property transfer and legal heir certificate need to be well-defined and updated for a smooth selling process.
Legal Heir Certificate
A legal heir certificate is essential to prove the rightful heir of the deceased owner. This document needs to be obtained for selling inherited property and can be obtained from the local revenue department, judicial body, or as per state-specific legal guidelines.
Clear Property Title
The property should have a clear property title to steer clear of any legal troubles that may arise during the property selling process. This process entails verification of the legal ownership, analysis of past transaction details, and examination of any outstanding claims.
Sell your Property in India with Ease: Contact Family Kanoon Now!
While the above-mentioned procedures and methods may sound easy at first, they are easier said than done. There are many tax implications and other unique challenges that NRIs may face while thinking about selling their property in India. NRI lawyers in India can prove to be of great help in traversing the legal intricacies involved in selling property. If you are also an NRI planning to sell your inherited property in India, you can consider hiring NRI lawyers in Gurgaon from Family Kanoon who can offer assistance in making the entire sale process manageable and smooth.
Besides just making you aware of the Indian property selling laws and other tax implications, we can provide you with tailored legal advice and solutions to help you sell your property at a faster pace. From reviewing the sale agreement to addressing any legal disputes involved, our NRI lawyers in Delhi hold expertise in making your property sale process seamless. So, don't handle the legal complexities alone. Book an appointment with us now to simplify your property sale process in India!
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