Yes, an NRI can sell their share after partition, subject to compliance with FEMA regulations and tax laws. However, it’s advisable to consult a legal expert before proceeding.
Archives: FAQs
Is registering a partition deed in India mandatory?
Yes, it is advisable and often mandatory to register a partition deed, especially for immovable property, to make it legally valid and enforceable.
What are the tax implications for an NRI receiving property through partition?
NRIs may be liable for capital gains tax if they sell the property later. The tax liability depends on the holding period and the nature of the property (residential or commercial).
Can a family member contest a will during the property partition?
It is possible to challenge a will basis fraud, undue influence, or lack of testamentary capacity. However, the responsibility of providing proof lies with the individual contesting the will.
How is ancestral property different from self-acquired property in terms of partition?
Ancestral property can be inherited for up to four generations and is subject to equal division among legal heirs, including daughters, after the 2005 amendment. Self-acquired property can be willed according to the owner’s wishes.
Are there any restrictions on NRIs owning agricultural land in India?
NRIs are generally not allowed to purchase agricultural land in India. However, they can inherit such land. Specific rules may vary by state.
How long does the property partition process typically take in India?
The duration may vary depending on whether it’s settled through mutual consent or court proceedings. Mutual consent can be quick, while court cases may take several years.
Can an NRI participate in property partition proceedings remotely?
An NRI can participate remotely by appointing a power of attorney or videoconferencing if the court allows it. However, personal presence may be required for certain crucial stages.
Are there any specific documents NRIs need for selling property in India?
NRIs need documents such as a PAN card, passport, and OCI/PIO card and may require an NRO account for the transaction.