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!