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Buying Agricultural Land Karnataka
1 year ago
Hi
I am in talks for buying agricultural land in karnataka
My Background:
Me & Wife both working in IT and combined income is more than 25 lakhs PA, staying in bangalore
My father is retired Govt employee currently in UP, Has income from pension 7 LPA ,We never had any agricultural land in our family.
My mother is Govt teacher in Bihar, Salary 8 lakhs PA
on whose name we should buy the land? Suppose if its in the name of any parent. Later on can this property be inherited and registered on my name?
A.Dear Client,
Yes, the property can be inherited by you if it is registered in either of the parents' names as you will classify as class 1 heir. However, if there are siblings, the property can go for division if contested by any sibling. You can appoint yourself as a nominee in this regard or get a will prepared for the same. However, consult a property advocate in your area, as property laws differ on state to state basis.
Yes, the property can be inherited by you if it is registered in either of the parents' names as you will classify as class 1 heir. However, if there are siblings, the property can go for division if contested by any sibling. You can appoint yourself as a nominee in this regard or get a will prepared for the same. However, consult a property advocate in your area, as property laws differ on state to state basis.
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