What is Legal Advice for NRI?
The need for legal expert advice to NRI in unfortunately not an easy task if you are residing in another country.
- NRI often need the advice of the Property management lawyers to help them to either inherit or purchase the property which enables them with feasible solutions.
- To get the ownership records is not an easy task at all. Often the registered documents are either lost or are nor recorded properly.
- Thus, here comes into picture the requirement of the legal expert advice to resolve the issues
Mainly the issues faced during this phase as stated below:
- If documents are visible online still it shows not depict a complete picture of exact shareholding nor its valuation.
- Documents available online are mainly in vernacular languages so it is a difficult task to convert it into the English.
- Whether commercial, residential and urban documents are required, it is difficult to obtain all the documents online. It can be obtained manually.
- If any property was transferred or acquired illegally in the past, one needs to apply to verify the old records which can only be possible if the request for the same has been made and obtained through legal experts.
- A common issue faced is that the registered sale deed or the primary title of document is either not available with the clients nor it is available with the relevant officers or the municipal authorities.
Transfer of Property
One of the most difficult issues which require an expert advice is the transfer of property in India. It is mandatory to follow a transfer procedure to transfer a property in India. Unless the asset is properly and legally registered in your name you cannot transfer the property otherwise there is a risk of benami ownership in India.
Partition of property
- The need for Legal Expert advice in case of partition of property arises due to shared co-owned If the individual owns a co-owned property which can create legal issues, to resolve such issues an expert advice is mandatory.
- In such a situation it is advisable to file a suit after taking an expert legal advice
- Partition of joint land is a mandatory step for effective control of your ownership.
- It is processed in which the property is portioned into separate portions in which each share gets divided and gets legal entitlement.
- After Partition every portion gets new title of ownership which can be either ancestral land, house or a commercial establishment which is co-inherited by siblings or other co-owners.
Property possession dispute with developers is a common problem as delay in possession of flats are an everyday complaint in India even though they have remained on top of the list preferences of investment.
It is very important for the people to verify that all the documentation is in proper shape.
As buying can be through seller or the real estate agents. However, the property possession dispute arises if the people invest in the builders or through developers.
A Succession of Property
The first step is to file for succession certificate in the court within whose jurisdiction the dead person resided to inherit the property whether movable or immovable.
Requirements of Transfer
- As a process there should be a clear title of the asset .i.e. the property should be legally registered in the name of the person who is the real owner of the property.
- As we know that the transfer proceedings are time-consuming, tedious process which involves proper documentation with verification checks which are submitted to the appropriate land revenue and registry departments.
- Thus, in order to buy, sell, build or mortgage in real estate assets the legal title is to be clearly defined.
- Transfer of property can be done in the form of inheritance through will or law of natural succession or in case of absence of will to be inherited by the legal heirs under succession Laws in India.
Types of Partition
Where all the parties do not agree, in such a case legal suit is filed in the court.
All the co-owners mutually agree to a solution which involves execution of deed on a stamp paper in an unambiguous manner.
Things to Consider While Investing in property through Developers
- The investor should do due diligence of the project in which he is investing;
- Verify the full background of the developer and a track record of the previous projects handled by him;
- Verify the title checks and the land for which all the permissions have been issued to the developer;
- The agreement to be executed between the buyer and the developer should be verified by the expert before it is signed;
- Fixed and frozen cost that the buyer has to pay from start to finish with clauses of increase, if any, be clearly defined;
- The total area and size of the unit purchased including common areas be specifically mentioned in the agreement;
- To resolve such matters a consumer complaint needs to be filed with the State Consumer Commission;
- Filing a claim is the quickest legal path for bringing defrauding developers and builders to book;
- It is a highly fast and efficient way to get the developers to deliver the property or refund the money along with interest and damages.
- In the present scenario, Consumer courts in India have become quick and aggressive.
- A penal interest is charged from the date of possession mentioned in the original document;
- Complete representation is provided by us throughout the matter till it reaches its logical end without an overseas citizen having to travel to India.