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madhavan (x)     18 August 2012

Purchase of property owned by nri with indian passport

I want to purchase a commercial property owned by a NRI with US Passport.  The owner is in US and unable to walk due to paralisys and he is unable to sign the documents. According the real estate agent, the sale deed will prepared by an Indian advocate and will forward to him, which he will sign ( thumb ) with two local witness.  And will provide a agent POA to the real estate agent to be present & execute the registration.   This POA will be signed infront of Indian Embassy Chicago.  According to the local advocate, there is no need to pay the  6% stamp duty on this case, as the sale deed is signed by the owner himself.

So I want to know whether this is a proper procedure to transfer the tile legally?   Else, please inform what's the appropriate procedure.



Learning

 1 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com))     18 August 2012

Sending the Sale Deed to the owner is not required. The Seller can execute a POA in his state, notarized by Indian Consul there, authorising his agent to execute as well as register the Sale Deed on his behalf. The POA that he sends has to be stamped and registered at the place where the property is situated within three months of it's reciept in India, once that is done there is no requirement of owner coming to India or even signing the Sale Deed.

 

Good Luck !

 

Bharat Chugh

Advocate

bharat.law06@gmail.com

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