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Transfer of property is governed under Transfer of Property Act, 1882 in India. Section 5 of the Act defines the term ‘Transfer of Property’ as ‘an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and other living persons. Transfer of Property has to be done in consonance with applicable rules, regulations and procedure for the transaction to be legal and binding which can be quite a complex process for those who are not from the legal background.
Knowing the pertinence of this law, it becomes extremely important that one seeks appropriate guidance in the right direction for smooth and legal transfer of their property especially in the case of NRIs.
NRIs do not reside in the country and are physically incapable of dealing with on ground paperwork and in some cases are even unaware of legal compliances that are required to transfer a property.
Given the nature of transfer of property laws in India, the entire process seems even more confusing as each state has varying laws and applicable taxes. Pertinent steps like registration of Instrument of Transfer like gift deed, sales deed, transfer deed with the right authority to ensure that such transfer is legal and binding is quite salient. Besides, NRIs are much prone to illegal activities like financial frauds, illegal sales, delays in documentation, misrepresentation, and a lot more. This is why NRIs find themselves being reluctant to transfer their land as it seems exceedingly laborious and petrifying given the daunting malpractices that take place, the load of paperwork and documentation that is required to attain the end goal.
Thus, it is often advised that they hire experienced consultants to help them in the process of transferring their land ownership rights. In order to safeguard their rights of ownership and to make legal property transactions, NRIs not only need expert advice but also authentic subject matter experts to handle their transactions end to end.
And this is exactly what the experts at Legal Consultancy India are here to help you for. We are a team of experienced specialists who have extreme regard in their daily interactions and thrive to deliver end to end solution oriented services to the clients further ensuring legal transfer of client’s properties as per their desired timeline.
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