How to make a will when children are overseas citizens
Querist :
Anonymous
(Querist) 23 October 2009
This query is : Resolved
SUB : How to make a will in India , especially when one's children are living abroad as NRI / citizens ?
Dear Sir ,
How to make a will in India , especially when one's children are living abroad as overseas citizens ? In the present case , regarding making a will , division/distribution of property is not important but the transfer of property ( movable & immovable ) is important as the beneficiaries have become citizens of other countries . Can they get the assets transferred in their respective names in India , sell and then transfer the proceeds to their country of residence legally ? What will be the procedure , considering minimum payment of taxes , if any in India ? Thanks in anticipation .
PP
Guest
(Expert) 23 October 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com
REGARDING THE WILL KINDLY NOTE THAT.
1.YOU MAY MAKE A WILL OF SELF ACQUIRED PROPERTY IN FAVOUR OF PERSON OR RELATIVE OF YOUR CHOICE
2.YOU MAY KINDLY SEND THE DETAILS OF PROPERTY AND LOCATIONS.THERE ARE OTHER WAYS OF TRANSFERING THE SAID PROPERTY TO YOUR LEGAL HEIRS OR PERSON OF YOUR CHOICE.
IN CASE YOU NEED ANY FURTHER HELP YOU MAY SEND THE DETAILS OR WRITE OR CALL.
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE.
Querist :
Anonymous
(Querist) 23 October 2009
Thanks for your reply . The immovable property is a house in a city . Can an overseas citizen own immovable property in India ? In the present case the focus is on owning/transferring proceeds to overseas citizen ( not NRI ) . Thanks
Sachin Bhatia
(Expert) 23 October 2009
Your children are living abroad as NRI are entitled to apply & get either Person of Indian Origin (PIO) card or the Overseas Citizen of India (OCI) card.
Under these schemes your children get reasonable benefits out of which they can own or buy immovable property in their name in India.
Querist :
Anonymous
(Querist) 29 October 2009
Thanks a lot !
