Want to sell my property. Need suggestion

Q: I am a US citizen of Indian origin living in USA. I have two adult children. My husband who is no more had constructed a house in 1983 and had not left a WILL. But I do have a legal heir certificate and also got mutation of this property done when I visited India last year. Now we want to sell this property as it is, so can this be achieved in a time frame of six months. Also do we have to have an Aadhar card for all of us?

CF User,

22nd January 2014

Legal

aadhar card

mutation of land

will

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A PIO (Person of Indian origin) can inherit immovable property from a person resident in India or a person acquired such property as per Foreign Exchange law in force or can receive property as gift from a person resident in India or a NRI or a PIO. A PIO can transfer any immovable property in India (other than agricultural land / farm house / plantation property) by way of sale to a person resident in India. For more information you can also refer to http://www.rbi.org.in/scripts/FAQView.aspx?Id=33

Gaurav Gupta , Apartment Resident

23rd January 2014

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if you have identified a buyer for this property,you can complete the entire transaction with lesser time.If your buyer is availing loan for the purchase you can expect a time limit of 3 months for the entire transaction. Confirmation from your children is mandatory for the sale. POA from your children( authenticated from the US Embassy or Apostille Agency) authorising you to execute the Deeds on behalf of them will help you to save time. Please take steps to transfer the Katha in your name before you proceed with the sale. Aadhar card is not mandatory.if you are an NRI 20.6% of tax will be applicable.

Beena Pillai, Legal Expert, Bangalore

22nd January 2014

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