Buying and Selling land in India by OCI (US Citizen)

#1 Jan 3rd, 2008, 22:05
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  • akigir is offline
#1
Hi,
I have a question regarding buying and selling of land in
India by Overseas Citizen of Indian Origin. If a person is currently US Citizen who bought land in India when he was Indian citizen , can he give Power of Attorney to his Indian relatives to sell the property registered under his name which he bought when he was Indian Citizen?

Thanks.
#2 Jan 3rd, 2008, 22:07
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  • capt_mahajan is offline
#2
Not a legal expert, but I don't see why not.
#3 Jan 7th, 2008, 13:33
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  • nabamitamukherjee is offline
#3

Hi !

At any point of time, if u were an Indian Citizen or your father, grand father or great grandfather, then u are a Person of Indian Origin according to the Reserve Bank of India guidelines....hence, even if you are not an Indian Citizen now, u can sell ur property giving a general power of attorney to anybody who is in India (provided that is not an agricultural land). The registration laws of a GPA (General Power of Attorney) have different rules and regulations depending on the states.

There is no problem at all, however it is always advisable to get a PIO (Person of Indian Origin) Card from the Indian Embassy, so that u do not face any kind of hassle ...also u can apply for a dual citizenship of India as well as the country of ur residence... these make things a little simpler...
#4 Jan 7th, 2008, 14:29
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  • Mickey S is offline
#4
Is anyone going to take legal advice from someone who writes "u" and "ur"?

As has been said many times before on this forum, you may get a lot of ideas and opinions but a definitive answer should be sought from a professional.
#5 Jan 7th, 2008, 17:18
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  • nabamitamukherjee is offline
#5

good introspection buddy !

very good introspection buddy !!! however before making any such comment, why dnt u verify the facts ...if u thnk u know too much why dnt u answer his queries,rather than confusing him ??? I quite doubt whether r u grossly qualified to comment on that, bcz any person who is, will be more interested to learn the facts, rather than brooding over "u" or "ur"...!!!
#6 Jan 7th, 2008, 17:26
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#6
nabamitamukherjee, welcome to indiamike

A forum where us moderators discourage sms-speak.

Other than that, I am sure your input in your first post has some validity.
#7 Jan 7th, 2008, 17:43
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  • nabamitamukherjee is offline
#7

Thanks Capt !!!

Point Noted Captain !!!

However, I did not know this... I keep on posting while on work because I have numerous Non Resident Indian clients, for whom I have to be online almost for 10-12 hours in different sites. Hence, I just thought of helping somebody out because this is the core area of my working !

I guess this time I have not made a mistake !
#8 Jan 7th, 2008, 17:52
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  • capt_mahajan is offline
#8
all settled then.

To the OP, keep in mind some people will not buy on a Power of attorney because it can be revoked and is therefore more risky. There are horror stories.

All it means is that you may have fewer customers as a seller.
#9 Jan 7th, 2008, 18:06
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  • nabamitamukherjee is offline
#9

I suppose so !

One might not opt for a GPA, there are provisions for Special Power of Attorney as well, which restricts or curbs down the rights of a POA. The points can be customised.

Personally, if you ask me, I do not encourage people buying or selling on a POA because people might be harassed. In case it becomes impossible for a client to come, I ask them to give a POA to his wife or mother...(but has to be doubly sure). In banking we normally used to accept a General Power of Attorney though, that too registered from the Magistrate.

For buying there are lot of other option, like giving a bank mandate, however for selling it is a little difficult.
#10 Jan 7th, 2008, 18:46
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#10
Hey Nabamita, welcome to Indiamike, I hope your help here would resolve lot of issues and confusion.
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#11 Jan 8th, 2008, 14:43
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#11
Thank you so very much ! I really hope it does.
#12 Jan 8th, 2008, 14:53
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#12
Quote:
Originally Posted by capt_mahajan View Post nabamitamukherjee, welcome to indiamike

A forum where us moderators discourage sms-speak.
It's "we" moderators.
#13 Jan 8th, 2008, 14:55
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#13
Congratulations!
#14 Jan 8th, 2008, 16:09
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#14
We don't discourage bad grammar and spelling... just SMS!

#15 Mar 11th, 2008, 03:37
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#15

Iindian consulate give POA to OCI?

On the same line of this topic, Any idea will the indian consulate give POA to OCI? The Indian consulate here does not respond to phone or email. I have been looking to find this out this for more than a month. Please advice. If the answer is yes, what is the procedure?

Thanks,
vsn.

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