Selling the property from abroad
2 years ago
Sir I am trying to sell a flat in Goa India but due to covid my Father who is leaving in Oman muscat cannot come down to Goa India and the Flat is in my both father's and mother's name but but mother has given power of attorney to my father......plz help as to how to go about this process...I have a buyer ready
Vaidehi Samant
Responded 2 years ago
A.Your father will have to remain present in India for sale agreement registration process, even if Power of Attorney is executed in someone else's favour the same will be required to be registered since it involves sale of property. I would advise you to ask buyer to wait for some time if possible. Thank you.
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A.Your father will have to issue a power of attorney in somebody's name in Goa ( Say your mother if she is in Goa) and then she can execute the sale deed on his behalf and for herself as well.
You can read about how to create PoA by NRI in this blog https://www.vidhikarya.com/legal-blog/NRIs-Power-of-Attorney-to-sell-property-in-India
You can read about how to create PoA by NRI in this blog https://www.vidhikarya.com/legal-blog/NRIs-Power-of-Attorney-to-sell-property-in-India
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A.Hi,
An NRI can sell his/her residential or commercial property to either a person residing in India, another NRI, or a person of Indian origin (PIO). One can also mortgage the property to an authorized real estate dealer or a financial institution dealing with home loans. In case the property has been inherited from an Indian resident, no special permission is required from the RBI.
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An NRI can sell his/her residential or commercial property to either a person residing in India, another NRI, or a person of Indian origin (PIO). One can also mortgage the property to an authorized real estate dealer or a financial institution dealing with home loans. In case the property has been inherited from an Indian resident, no special permission is required from the RBI.
If you find my answer helpful then kindly rate me.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
If you are a Non-Resident Indian, you can sell the property to a Resident Indian without restrictions. If the buyer is a Non-Resident Indian or a Person of Indian Origin (POI), you may need the approval of the Reserve Bank of India (RBI). You are not allowed to sell the property to a foreigner.
If you find my answer helpful then kindly rate me.
If you are a Non-Resident Indian, you can sell the property to a Resident Indian without restrictions. If the buyer is a Non-Resident Indian or a Person of Indian Origin (POI), you may need the approval of the Reserve Bank of India (RBI). You are not allowed to sell the property to a foreigner.
If you find my answer helpful then kindly rate me.
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