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Get Your Rights ‘Transferred’ to Yourself – In Time!

How many times would you have heard NRIs complaining of their property being usurped by unwanted elements, for sheer lack of legal transfer of property in their names? Transfer of property is easily one of the most troublesome issues that NRIs face – and lack of awareness of these has led many NRIs to suffer mental harassment.

For anybody to be able to take action on their property, it is important that a clear title is established to stake ownership. Moreover, to avoid fraud, property has to be in the individual’s name.

When an owner passes away, it is imperative that the authorities be informed immediately. Under the Indian procedures, the change of title of property does not happen automatically. It is normally a tedious and time-consuming process. One is required to submit some verification checks to the appropriate land revenue and registry departments. If an individual wants to have active control, build, and mortgage or even sell the asset in India, it has to be effectively in the individual’s name. Or else it would be tough to carry out any further transactions related to the asset.

Transfer of Property can take place in different ways. First is when you inherit through the Will document. In the absence of the Will, the inheritance would be through the natural law of succession – inheritance being of class I heirs under the relevant laws in India. The owner could also gift the property if he were still alive – this can be done through a Gift Deed. Finally, transfer of property could take place through a normal buying and selling. In this case, there would be a registered sale deed. In this case, money exchanges hand too.

For any of these processes to be held valid, there must be a registration done. The stamp duty and other costs involved would be based on a percentage of the value, and the rates will vary from state to state. Also – for any further transaction to take place, registration is necessary. When people ignore the validity and significance of the registration process, they become vulnerable to complications in property issues later on.

The problem with NRI cases is that most of them do not have proper legal representation in India to aid them with procedures related to property. For one, they dread the travel. There could also be the complexity of disputes, which they would find difficult to resolve from far off. Bureaucracy or Judiciary makes it no easier for them. To add to the complication is the fact that law procedures are different not just from state to state but also vary between particular property types. This would require complete knowledge, awareness, and diligence in handling these issues at various levels.

All NRIs seek professional and trustworthy services in property matters without traveling to India. As one of India’s top law firms on property issues, NRI Legal Services offers comprehensive advice for transfer anywhere in India exclusively to overseas residents without their having to travel to India personally. Some of the best legal advisors coordinate and communicate with the clients and complete these formalities of transfer of property on their behalf.

Make sure you are taking steps to stake claim to what is rightfully yours – Now!

By | November 30th, 2016|Blog, Illegal, Transfer of Property|0 Comments

Succession Certificate: Making Inheritance More Meaningful

Inheritance is understood to be a naturally smooth flowing process, and a lot of people are not even aware of the relevance of the ‘Succession Certificate.’ It is a known fact that a majority of the inheritance issues get covered under the Hindu Succession Act. Some that are related to the minorities are taken to be in the ambit of their community acts – or maybe the Indian Succession Act.

Not many are aware that the need of the Succession Certificate could be related to both movable and immovable properties. It is significant for financial assets like the bank deposits, FDs, etc. and these are not released by the banks unless this document is made. In the case of a person dying without having made a Will, the Civil Court can grant the Succession Certificate to ensure the release of debts and securities of the deceased. It establishes the legitimacy of the heirs and gives them the authority to get the deposits and other assets transferred in their names.

Many NRIs have been saved from unnecessary hassles of inheritance due to the advice of the legal experts regarding this document. For all applications made by a recipient to a court of competent jurisdiction, the document in all cases is issued as per the applicable laws of inheritance.

This document can also be granted for immovable properties. This could be in the case of situations where there are questions of ownership and possession. This would require a systematic process of transfer which can be based or done through a Will or under the Law of natural succession.

All related services can be taken care of by our firm, including getting documents and also sale if you want later on. The crucial thing to be remembered is that even if an overseas citizen were to know details about land that he thinks belongs to him, he could be a problem if a parent or an uncle/aunt dies without making a Will. Simply knowing that a property is his cannot help much – proper documentation would be required to assert a claim. There are rules that determine the manner in which all the assets of the deceased are passed on to the heirs. These issues, however, need to be addressed after taking proper legal advice.

At any point in time when one has to apply for this kind of a document, the following information is required:

  • The time of the death of the deceased or the Death Certificate as proof.
  • Place of residence of the dead person or if such residence is not within the jurisdiction of the district judge then, any other property of the same individual falling under the purview of the district judge to whom the application is made.
  • The details of the family and other kith and kin of the deceased and their residential addresses.
  • Proof of what right or what capacity he should be nominated as the successor of the departed.
  • Sufficient evidence that the said asset does not fall under the restrictive cases and there is no dispute to his claim as a successor.
  • Complete details of any debt or security attached

Since our company has many years of experience of working on property disputes for NRIs, and have a network of competent lawyers, we can ensure that our clients get accurate legal advice for property claims at every stage of this process. Not only do we educate them about the necessary procedures, but we also help them with the legal formalities in a hassle free manner, thus ensuring that no client is ever left alone.

By | November 29th, 2016|Blog, Succession Certificate|0 Comments

All partitions needn’t be sad stories – Partition of Property

There are times that an NRI is the co-owner with somebody, in a property. By itself this might not be a problem; but sometimes, this leads to property disputes taking place. Usually the scenario would be that the other person would be seeking major control or manage or even try and sell the property as to create problems for the NRI. This clearly goes against the interest of the overseas citizen. It prevents him from taking any action related to his own property.

NRI Legal Services is a professional legal management company which offers advice on all matters related to property disputes. We advise all clients that in such circumstances, filing of a Suit after seeking appropriate advice is the best remedy available under law for an NRI. In all such cases, clarity on individual ownership of any land held jointly is a must. It aids in proper management and control of the NRI’s property.

  • Partition is a process whereby a property that is jointly owned by several persons gets divided into separate portions such that every person then gets a share as per his legal entitlement.
  • Once the division is done, every part would get a new title, and every ‘owner’ then would be giving up his stake in the other portions.
  • That means that there would be complete autonomy to operate in the partitioned holding. Meaning thereby that nobody else can interfere in the holding where you would have stake.
  • The property in question here could be the ancestral land, a house or a commercial establishment that has been inherited along with siblings or other co-owners.
  • Joint ownership does not mean that people lose out on their property because of any confusion and complication.
  • Do remember that a co owner’s stake would be both inheritable and transferable.
  • A prerequisite is that each holder’s investment, undivided share in the interest and title of the property needs to be defined clearly.
  • This would avoid problems in transfer, inheritance and taxation.
  • Partition is two kinds -contested or uncontested.
  1. In a contested scenario, when the involved parties do not agree, a legal suit has to be filed in the courts.
  2. In an uncontested situation, the co-owners mutually agree to the solution. The shares of the people involved would depend on the particular share for each one as mentioned in their purchase or inheritance document.

Sometimes, in the case of some urban commercial or residential properties where individual saleable units cannot be carved out or partitioned, the court orders a sale of the same. After the sale, the proceeds are divided according to the share of each person. Once that is done, each owner is free to take whatever decision he wants to about his individual holding. It is possible for NRIs to file and then be suitably represented in a suit with the help of our team of legal experts without even visiting India during the process. The company has an undeniable advantage of over seventeen years of experience and thousands of clients – it places us at an advantageous position in handling NRI property dispute cases.

By | November 28th, 2016|Blog, Illegal, Partition of Property|0 Comments

Unaccounted deposits could face 50% tax, 4 Years lock-in period

No less than 50 percent tax could be levied on inexplicable bank deposits made when using banned currency notes around December 30, 2016 including a four-year lock-in period for One half of the remaining amount underneath the amendments to tax law the government plans to usher in Parliament shortly. However, a greater 90 percent tax and penalty might be enforced if people don’t declare the unaccounted cash under their own accord. Cash deposits made while using old currency of Rs.500 and Rs.1,000 notes over a threshold which can be declared to Tax government bodies may attract 50% tax, as reported by the amendment towards the Tax Act authorized by the Cabinet yesterday.

One half of the remaining deposits, or 25 % from the original deposit, won’t be allowed to be withdrawn for 4 years, sources stated. In a situation where such deposits aren’t declared and therefore are detected by tax government bodies, as many as 90 % tax and penalty might be imposed, they stated. The government had given a 50-day window beginning from November 10 either to deposit the now invalid currency in circulation or exchange it for brand new notes.

As the exchange, which was restricted to a maximum of Rs 2,000 per person, continues to be withdrawn, all old notes with no ceiling could be deposited in accounts. This, sources stated, had brought some boost in bank deposits, specifically in zero-balance Jan Dhan accounts that have grown by over Rs 21,000 crore in only two days, raising suspicion that these accounts might have been accustomed to launder black money. As the tax government bodies had spoken of levying an optimum rate of tax and 200 percent penalty on the top from it for just about any inexplicable deposit above Rs. 2.5 lakh between November 10 and December 30, it had been felt that this type of move might not have legal backing.

To plug individuals loopholes, the cabinet is considered to possess yesterday approved amending the Tax Act with the addition of a clause within the sections to maintain the tax with an inexplicable earnings throughout the window, sources stated. The federal government intends to bring the amendment for approval in early next week after getting the President’s nod. Sources stated demonetization would be a major key to uproot black money and corruption nevertheless its purpose could have been defeated when the ill-become wealth was deposited through benami deposits. And taxing them was a method to punish dishonest people. The tax rate, however, can’t be just like for honest tax payers. Additionally, it couldn’t function as the 45 percent tax and penalty billed on hereto undisclosed wealth introduced to books utilizing a one-time compliance window underneath the Earnings Disclosure Plan (IDS) that ended on September 30.

Sources stated because the black money holders didn’t make use of the government offer to declare their unaccounted wealth, they ought to pay a greater rate of tax now and curbs put on its usage. The federal government can also be contemplating on developing a bond where the 25 percent “lock in” money could be parked and could be withdrawn after 4 years through the depositor. From the additional taxes on inexplicable and undisclosed deposits, the federal government can create a fund to construct rural infrastructure.

By | November 26th, 2016|Blog, Demonetisation|0 Comments

Demonetisation Do’s and Don’ts: Govt Announces Operational Measures

After about fifteen days of the Demonetisation process, the Government finally announced some measures on an operational level so that there is clarity about the usage of the old versus new notes – as also the exchange of the notes. Significantly, the following are noteworthy points:

  • There will be no over the counter exchange of the old notes of Rs 500 and Rs 1000 now, post midnight November 24, 2016.
  • From November 25, you can only deposit the old notes in their accounts and then withdraw new currency through ATMs or cheques at banks.
  • The government intends encouraging people who currently do not have accounts to open them and deposit the abolished notes.
  • There will still be a limit of Rs 24000 per week withdrawal per bank account
  • ATMs can be used to draw up to Rs. 2,500 a day per card.
  • The RBI has doubled the limit on digital transactions through e-wallets like Paytm to Rs. 20,000 per month.
  • Meanwhile, in Nepal people are already having problems exchanging Indian currency old notes. Now, the government has declared that the new Indian notes stand banned in the country
  • The government of Nepal will wait for a declaration by the RBI under the FEMA Act. This move has been introduced because Nepal claims its incompetence to judge about counterfeit currency
  • Certain exemptions granted for a further period till December 16, 2016, with the following guidelines:
  • All payments to be acceptable for the exempted categories only in old Rs 500 notes
  • Payments of up to Rs 2000 can be done per student in all Central Government, State Government, Municipality and local body schools too
  • Payment of fees in Central and State colleges
  • Pre Paid mobiles can be paid up to a limit of Rs 500 per top up
  • While one can buy goods from Consumer Cooperative Stores, the limit would be Rs 5000 at a time only
  • In Utilities, only water and electricity are allowed to be paid with these notes
  • The toll free arrangements on roads were extended till December 2, 2016. For the next ten days or so till December 15, old notes can be used to make payments
  • For Foreign citizens, the rule is that they will be permitted to exchange foreign currency up to Rs 5000 per week. However, now entries will be made in their passports. The RBI proposes to issue further guidelines regarding this.

Notifications and updates are coming in daily. While we are trying our best to bring you the most accurate and updated Information on this subject it is a possibility that by the time we relay the information it might have been changed. Please verify from the official site of RBI before taking any action (https://www.rbi.org.in/).

By | November 25th, 2016|Blog, Demonetisation|0 Comments

Criminal Litigation Against NRIs and Overseas Citizens

“A DAY IN PRISON IS LONGER THAN A THOUSAND YEARS” DON’T LET THAT HAPPEN TO YOU!!!!

A huge number of our NRI clients come to us because of false litigation initiated against them. Most of these charges are either unfounded or baseless. To top it all NRIs have to be fearful of coming to India on account of such fraudulent charges. More often than not, relatives, friends or others initiate such action against NRIs simply to prevent them from coming to India. The motive is to grab their property or maintain illegal occupancy. In totality, NRIs are faced with the following issues –

  • Fear of being arrested or their passports being confiscated
  • The anxiety that they would never be allowed to leave the country
  • The subsequent loss of their properties here.
  • Many who have been declared proclaimed offenders (PO’s) and are not able to get trustworthy lawyers for representation to manage their criminal litigation have to languish outside the borders of the country.
  • Such victimized NRIs simply keep waiting for a chance to return and claim their inheritance or rightful shares to their lost properties.
  • Ironically, thousands of PO’s who continue to live in fear overseas for years are not aware that the cases against them could be resolved through representation in the court.
  • Such POs can now be successfully defended in the appropriate courts of law.
  • Several such people who have contacted us from different parts of the world have now been able to get rid of the stigma of being called PO’s and have gone on to successfully defend themselves to recover and restore their full rights.
  • On an inquiry where a client is involved in a criminal case in any court in India, the very first step is to read and review the complete case file to take an informed decision on how to proceed further.

If any NRI is caught in these situations, he should not delay in asking for legal assistance or guided opinion from the team of legal experts at NRI Legal Services.  What all such POs need is an understanding, efficient, competent legal expertise. This would assist them in handling the entire legal scenario for the NRIs. The company offers all of this – and more – to all clients who approach us. Being one of the top law firms in India, NRI Legal Services uses its proficient team to represent, solve and finalize all NRI property or litigation dispute cases to suit the convenience of overseas citizens. In most situations, overseas citizens do not have the correct knowledge about procedures or formalities. Therefore they need sound legal advice to find solutions, and that is something they are assured of when they approach the company.

By | November 24th, 2016|Blog, Criminal Litigation|1 Comment

Landlord-Tenant Dispute- Tales that Never End!

Eviction of tenants is one of the most frequently queries that we handle from NRIs. Landlord-Tenant disputes are not limited to local levels only. In the case of NRI properties, the matter always becomes worse because people can take undue advantage of the absence of overseas citizens. Most NRIs have no option but to give their houses on rent to protect from trespassers, illegal occupants; and to manage and take care of assets which could otherwise be at risk a state of deterioration or neglect.

However, the landlord-tenant relationship is a sensitive one and needs to be treated with immense prudence. We cannot always ensure a completely fool proof protection methodology, but there are definitely certain precautions that can be taken so that the risks stand reduced. Even if they were to be served a notice to quit it wouldn’t necessarily always – the illegal occupants, are adept at disrespecting all tenancy arrangements. Hence, legal advisors have to be careful about the rights of NRIs and protect the same.

We, at NRI Legal Services, have a committed and experienced team of legal service experts who exclusively handle matters for NRIs and overseas citizens all across the country without having them to travel to India.

Did you know?

  • Rent laws across the nation are now more in favor of the landlords than ever before and with some special provisions in certain cases for NRIs eviction has become comparatively easier.
  • Some judgments from the Honorable Supreme Court of India and High Courts have conclusively upheld the rights of the landlords in eviction suits.
  • Special clauses such as – personal necessities have been introduced in rent laws arming the landlord with legal teeth to carry out an eviction.

As far as factors unique to these conflict issues are concerned it is good to have proper legal agreements that safeguard the interests of the landlord.

  • Rent/lease agreements should be properly defined, written and signed by both parties.
  • Registration of these documents is a must.
  • Most landlords are better off if they enter into Leave and License agreements with the tenants which are preferred to be of shorter duration.
  • At the first instance of an occupant acting out of line, the owner should get an indication that he needs to be shown the door out of his property
  • If the legal notice sent to residents is not yielding a result, then the law has provisions for setting up rent courts all across the country for bringing them to conviction.
  • Property dispute lawyers suggest that you should enter into sound agreements maybe even engage in specific Power of Attorney with your tenants so that your legitimate rights stay protected.
  • It is always advised to get your tenants registered with local police stations.
  • Property agreements need to be renewed as and when required. Rental payments should frequently be checked.

It is important for the tenants also to understand and realize their responsibility too. Although there are tenancy and rent-related laws in all Indian States conflicts still arise and more so in the case of NRIs who cannot oversee their properties always very well.

By | November 23rd, 2016|Blog, landlord tenant dispute|0 Comments

Demonetisation Myths and Rumours

Whenever major sweeping changes are made in an existing system, some myths and rumours are bound to be floated around too – partly because of the ignorance of the masses and partly because of a tendency of a section of people to create confusion and panic. The Modi government’s recent Demonetization move is no exception! Prominent stories that have been doing the round over the past twelve days are:

1. Demonetisation would be done for the Rs 100 and 50 notes too.

No such move was either conceived or announced.

2. Bank lockers would be sealed and gold/diamond jewelry

The Finance Ministry was quick to clarify that there was no such step planned.

3. The new currency notes that have been circulated have been designed to have chips on them which would help identify people who have black money.

This was imagination at its height! No such technique was implemented.

4. The colour of the new 2000 note just bleeds away.

Not at all. The 2000 note uses what is known as ‘intaglio ‘ You can test it by rubbing it with a cloth – the result is a ‘turbo-electric effect.’ This causes the colour to run on the cloth. Hence the misconception.

5. All customers will be marked with indelible ink for every withdrawal.

No – customers were in fact marked only for exchange of old notes; not for the withdrawals.

6. The Indian economy is not equipped to handle this process of the digital economy as not many people have bank accounts.

The truth is that ever since the Indian government announced the ‘Jan Dhan’ scheme in 2014, there have been more than 2.5 crore bank accounts – even if we were to assume that every family has four to five people, almost every family seems to have been covered by bank accounts.

The biggest rumour of course came two days ago, with a panic wave that almost threatened to disrupt the peace of mind! The Social Media got flooded by a message that from April 1, 2017 all properties would be invalid for one year. All properties would be linked to the E Property Pass Book or the EPPB, which would further be linked to PAN and Aadhar online.

The message further went on to say that unless property got registered n the EPPB, it would not be said to belong to the owner legally. The panic factor being that from April 1, 2018, the government would take over all properties not listed there.

It took only a day however for the Finance Ministry to declare that there was no Government authentication for this news and that it was all a fake message!

Beware – in the process of changing the 500 and 1000 notes, people are changing facts too. Keep a watch on our website – we are striving to keep your interests protected and bring you the latest, authentic news so that you can contribute positively to the change in the economy, rather than be victims of fake news.

The current demonetisation is unprecedented and historic . Notifications and updates are coming in daily . While we are trying our best to bring you the most accurate and updated Information on this subject it is a possibility that by the time we relay the information it might have been changed. Please verify from the official site of RBI before taking any action (https://www.rbi.org.in/)

By | November 22nd, 2016|Blog, Demonetisation|1 Comment

Guidelines to NRI investors post demonetization

The words “Property for Sale” always create a lot of interest. It is important for people to learn to protect their properties. More so, in this era post demonetization and the effects, the current wave is supposed to have on the real estate sector too. The first step in this direction is to get the required documentation in proper shape. This includes the registry titles and the ownership details.

One can buy a house either directly through the seller or through real estate agents. A common and prominent way of buying property is to invest through Builders. Unfortunately, it is common practice for such land developers to delay or completely avoid handing over of built apartments at the prescribed time. This results in monetary loss and mental stress to the customers.

It is, therefore, crucial to verify the past records of the builder –

  • See what kind of reputation he has in the context of the quality of construction and services.
  • Make sure if he has been giving the possession on time or not, who is going to be managing the property in the long run, what kind of credible associations he has and what is his reputation regarding the customer servicing.
  • Important to check out the balance sheets to see how the company has been faring over the past few years.
  • If the project is a Joint Venture, then you need to check out the details of the partner too.
  • The price framework is a crucial aspect when you check out an asset for sale – being clear on your budget always helps.
  • An investor must do a complete due search before investing in any asset
  • Do a background checks on the builder and his firm including looking into all previous projects completed by the developer
  • Check if the title documents are complete and also verify about all
  • Make sure all the papers are scrutinized by legal service experts before signing the agreement
  • The most important components of the agreement should be the cost, total area & size of the unit, the payment plan, date of completion and possession

If there are any conflicts in this matter, remember:

  • Consumer complaint needs to be filed in the State Consumer Commission.
  • In the present scenario, Consumer courts in India have become aggressive and quick.
  • A penal interest is charged from the date of possession mentioned in the original agreement.
  • Complete representation is provided by us throughout the matter till it reaches its logical end – without an Nri  having to travel to India.
By | November 21st, 2016|Blog, Demonetisation, Real Estate|0 Comments

Demonetisation and The Real Estate Sector

When History takes a turn, there is plenty you can expect. India seems to be living in this kind of a phase for the past ten days. The wave of demonetisation that swept across the country on November 8 has brought related changes in various areas of the economy. Besides the fact that the move is expected to flush out the black money in the economy, it is also being projected as a step towards a – dirt free –  real estate sector. Nobody can turn a blind eye to the fact that most of the transactions in the property market are still carried out with unaccounted money.

Everyone realizes and acknowledges that the initial reaction in the market would be a severe hit to the sector, which is already facing a recession. It has been said that initially, it is the resale of property that will take a big hit. As will the high-end transactions where there could be huge cash transactions. The primary market – where builders with a good reputation and credibility undertake projects – will probably be less affected because transactions here are undertaken largely through legal means and loans taken. On the whole, it is hoped and expected that in the medium to long term, a greater transparency will flow in and act as a correction factor for the entire market.

In the past few years and months, the Government has also initiated a set of reforms for the Property sector – the Real Estate Regulation Act (RERA), REITs, Benami Property Amendment and other reforms related to the FDI.  There is a substantial difference between the collectorate rates and the rate of property in the property market. Whatever investors pay money in the initial stages, more often than not gets paid in cash. Moreover, sometimes when the buyers offer to pay large amounts of cash, they get huge discounts. The cash input in property transactions is expected to go down now with the government’s – surgical strike-  on black money. In the short run, this is going to result in a fall in both the land prices and the deals that take place. Over time, the property developers could very well be forced to slash down property prices due to the high inventory and corresponding cash crunch. This suits all buyers and in the long term is expected to bring in the sense of stability in the ever fluctuating property market.

To sum it up, analysts are expecting that there could be an increased element of transparency and therefore a more professional and corporate kind of approach in the real estate sector.

By | November 20th, 2016|Blog, Real Estate|0 Comments
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