Inheriting farm land

shere

Does anyone know whether a PIO can inherit agricultural land ?

crvlvr

can't seem to find anything on the internet that addresses this specific issue. but, even if laws exist, the enforcement would be lacking. As log as there is not dispute, i don't think it would be a problem.

GoanCanuck

Would be advisable to consult a lawyer.

Nick-H

The answer is inThis Page somwhere, I think! Happy Digging

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shere

Thanks for your replies.

The only partly relevant section I found in the FAQ was the following (the term immovable property is not defined, so I have emailed the RBI for clarification) :

Q.14. Can a person resident outside India (i.e. NRI or PIO or foreign national of non-Indian origin) hold any immovable property in India acquired by way of inheritance from a person resident outside India?

A. 14. With the specific approval of Reserve Bank a person resident outside India may hold any immovable property in India acquired by way of inheritance from a person resident outside India, provided the bequeathor had acquired such property in accordance with the provisions of foreign exchange law in force at the time of acquisition or under FEMA regulations.

hash666

for sure you can inherit property in india whether or not ur a pio... even a non-indian can inherit property in india...

machadinha

Immovable property in a legal sense normally means real property (as in real estate), as opposed to personal property (stocks, jewellery, antiques and whatnot). Under Dutch law it covers land and its untapped raw materials, its plantings, and the buildings and works directly connected to that land, or even indirectly by way of association. What would worry me more here is the stipulation "inheritance from a person resident outside India," which I don't know if it holds up for you. I see now this is covered in the preceding question though:

Either way I think you have some serious consulting with banks and lawyers and the likes to do. Good luck with it if it goes through!

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Nick-H

Agricultural may be the rub. There are much more restrictions on owning agricultural land than any other land.

machadinha

Yes, interestingly (or not) in the Dutch law I quoted above the word for "plantings" is typically ambiguous, I had first translated it to read plants & crops but then I had my doubts about the latter so I changed it. With the "raw materials" (don't know a better translation right now) the operative word is untapped/not yet exploited, which to me implies that any processed products arising from the same are not considered immovable property. You'd think this reflects on crops or at least when harvested too, I really don't know. I'd say this is where the banks and legal consultation come into play. What it might all boil down to, but it really depends on Indian law, is you're entitled to inherit and own the land provided you meet the appropriate requirements, however any exploitation of that land you'd have to consign to any existing business structure, or create a co-op for it or something. Could be a fair deal to benefit all parties really. Then for your right to actually stay there and for how long you'd probably have all the intricate laws that apply to face, which many a thread has been dedicated to but I still can't make head or tail of. Being a PIO should bring with it the obvious advantages where applicable though.