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Managing Property in India

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LEGAL
An NRI or PIO who is sitting in a different country, it is very difficult to co-ordinate and fulfills legal formalities in India which they face. Therefore, we at Bhartiya Society have an understanding with ASC, Solicitors & Advocates; a leading law firm of India and therefore provides all kind of legal services to our NRI/ PIO members. The services includes all kind of advisory, drafting of agreements, representation amongst various authorities, Reserve Bank of India, ministries, different courts in India ranging from lower courts to Hon’ble Supreme Court of India etc as the case may be.

We represent our members at each forum and in every area of laws, whether it is an individual matter or a corporate matter, we assure best and promptness in our services.

There are some legal terminologies which are commonly required to be known and of great use for an NRI individuals which are as follows:

  1. Succession: Any person who succeeds or inherits the movable or immovable assets should have a succession certificate from the court for having authentic proof of having ownership of the property. It normally takes 6 months to 1 year but now it is taking 2-3 years because of long pending cases in the court of law.
  2. Mutation: any property existing in India should bear the name of the owner on the municipal records. If it is to be inherited the same should be accordingly changed in the records of the municipal records. The whole process is called Mutation. The process of mutation is different according to the state laws and procedure. Any NRI while purchasing the property or in case of inheritance must get the title of the property checked in Municipal records to know the best title of the property.
  3. Probate: Probate is the official evidence of the executor’s right to dispose off the property as per the terms of the will. Any will which is registered is called probate and have the legal force of law if it is registered and can be executed by the law if so circumstances desire. A Probate is necessary when the WILL pertains to immovable properties situated in Mumbai, Calcutta or Chennai.
  4. Power of Attorney: The power given to any person under an agreement to do the things on behalf of a person who is authorized under law to do that act is called Power of attorney. In simple words Power of Attorney means a person authorizing another person to do acts or certain acts on his behalf. The Power of Attorney is of two kinds
    1. General Power of Attorney – General Power of attorney gives wide powers to the agent to do various things on behalf of principal as detailed in deed and not confined to any specific acts or acts relating to a specific subject. 
    2. Specific Power of Attorney – Specific Power of Attorney is given in respect of single specified transaction like selling of particular property. Once the said particular act is completed, the special power of attorney naturally gets revoked or the powers of the holder get exhausted.

The attestation of power of attorney is not compulsory but in order to avoid any dispute and to establish the proof of genuineness it is advisable to get the document attested by two witnesses.
The registration of document is not compulsory.
It is to be noted that one should be very careful while giving any kind of Power of Attorney and should get Power of attorney drafted or vetted by the expert lawyers.

 
 
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