If it is agricultural land your mother cannot execute gift deed in your favour
2) she can execute will bequeathing land to you
3) if it is NA land she can execute gift deed
4) it should be duly stamped and registered
Thank you for taking the time to read my question. Some background about me: I am an OCI card holder. My mother has few acres of land that she inherited and would like to gift that to me and complete the registration formalities. I have 2 questions here- 1. Is it possible 2. How do we proceed?
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If it is agricultural land your mother cannot execute gift deed in your favour
2) she can execute will bequeathing land to you
3) if it is NA land she can execute gift deed
4) it should be duly stamped and registered
It's not permitted as you are an OCI holder. However it's legally permitted to inherit your share in the agricultural lands owned by your mother only after her lifetime.
Yes it's possible as oci has right to receive property. He can approach sub registrar office and get the same registered
A person resident outside India, not being a Non-Resident Indian or an Overseas Citizen of India, who is a spouse of a Non-Resident Indian or an Overseas Citizen of India may acquire one immovable property (other than agricultural land/ farm house/ plantation property), jointly with his/her NRI/ OCI spouse subject to the conditions laid down in regulation 6 of FEMA 21(R).
RBI made amendments in 2018, which includes similar provisions to OCI (Overseas Citizens of India) as well. OCI can also acquire property in the form of inheritance. NRI/OCI can acquire immovable property in India, (other than agricultural land/farmhouse/ plantation property), by way of gift from OCI who is relative u/s 2(77) of Companies Act 2013.
Section 2(77) of the Companies Act, 2013 defines the word relative as below. “relative”, with reference to any person, means any one who is related to another, if – they are members of a Hindu Undivided Family; they are husband and wife; or one person is related to the other in such manner as may be prescribed.
Your mother can execute a valid gift deed in favour of you.
Any OCI/NRI is entitled to receive gift of immovable property from Indian/inherit/sell/purchase property in India. You need not come to India to sell/purchase/gift/receive gift of immovable property. Any immovable property can be sold, purchased or gifted by person residing abroad through Special Power Attorney. The procedure is, draft a special power of attorney on Indian stamp paper of 100 rupees which is available in all countries or even on white paper giving SPA to any of your relatives/friend to receive gift of immovable property. Go to Indian consulate/high commissioner and get SPA attested which the consulate official will readily do. Send the SPA to the person named, he will take the SPA to the District Registrar who will validate it by putting his seal and signature. Fee for validation of SPA is 1 % if it is given to blood relation if given to other person it is 2% of government valuation of the property. With the validated SPA the person named will receive property by putting his signature of registered gift deed as donee.
Your mother cannot transfer the agricultural property to a NRI/OCI/foreign citizen.
a NRI/OCI/foreign citizen.cannot buy or acquire agricultural property by gift deed or any other mode, though he can inherit the property if left intestate or by a Will by the owner that too only after the lifetime of the owner of the agricultural property.
You may have to wait until then to inherit the agricultural property from your mother which can happen only after her lifetime.
Your mother may very well gift the property to you. There is no legal issue. The gift deed has to be properly drafted, executed and registered at the land registry by paying the requisite stamp duty and registration charges.
Dear Client,
Yes, your mother can do that.
Payment for immovable property has to be received in India through banking channels and is subject to payment of all taxes and other duties/ levies in India. The payment can also be made out of funds held in NRE/ FCNR(B)/ NRO accounts of the NRIs/ OCIs.