I am citizen of USA with OCI card holder. My dad is an Indian citizen. I know I cannot buy Agricultural land. Can I send money to my dad and let him buy the agricultural land in his name. Is that possible? Also, Is it possible to later inherit the land that my dad purchased.
First answer received in 30 minutes.
Lawyers are available now to answer your questions.
Dear sir/ma'am,
yes, you can send money to your father that he can buy the property in his name. he can later make a gift deed to you or make a will and transfer the ownership of the land to you by the above declarations. it is advisable to make all the agreements registered and not on the stamp or notary to save few rupees. getting the documents registered will make the agreement legally valid fully and can be used as a form of evidence in the future for whichever reason.
We are three siblings, is it possible for my Dad to pass on the purchase of land with a 'will' or deed just to my name. Will that be a problem with regards to inheritance, as the land is not being inherited by other siblings
Your father can purchase agricultural land if he is a farmer
you can send money from abroad
your father can bequeath land to you by will
Your siblings can challenge will executed by your father
Yes the course of action you are stating is very much possible.
The land should be purchased by him and a will must be written in your name. It should be registered.
Dear Sir/Ma'am,
It is advisable for you to get a will made on your name on behalf of your father if you are interested in inheriting the agricultural land in future.
This will prevent any further complications regarding to the inheritance of the land and will leave no scope of dispute for future.
The Indian Succession Act applies to each and every citizen of the country.
Therefore, a will shall be required for clear distribution of property among the siblings.
Tell your father to buy property by your money, sent by you (yes you can send money and your father can buy from it). Then get a will from him, giving the property to you. And give you a general power of attorney also to deal with it. It will keep you safe.
Or you can give loan to father by which he will buy property and give you mortgage papers.
Such other arrangements can be made as per your preferences.
Good luck
There is no restriction to send money to your father from any ther country of your residence as a gift or for any other purpose.
However you may please note that he cannot buy agricultural property on your behalf or on your name.
He can buy property on his name.
You can inherit the property only afte3r his lifetime.
You can acquire the entire property if he transfers the same by testamentary disposition i.e., by bequeathing the same in a Will.
Your father can bequeath the property to your name exclusively ignoring other children a nd he can make a specific mention in the Will about it and the Will may be prepared through a registered document.
It is always advisable that your siblings may be informed about this arrangement well ion advance so that they do not resort to any dispute at a later stage especially after the lifetime of your father.
Property purchased by father from your funds in his name is ancestral property and you will be entitled to inherit ti. Father can transfer the proper through will in you name exclusively.
- As per FEMA21/2000 RBI rules , an NRI or PIO cannot acquire agricultural land /farm house/plantation property in India.
- If you will purchase an agriculture land , then it will be a violation of FEMA laws , that can result in a penalty or even confutation of that property.
- Further, to purchase an agricultural property in India, an NRI has to take a prior approval from Reserve Bank of India, But you can acquire this property only by way of inheritance.
- Being an NRI , you are only allowed to purchase residential or commercial property in India.
- Yes, you can use money to purchase property in the name of your dad.
