Hi,
I am in Canada and a Canadian citizen. I have a house in Pune which on my fathers name and I am the nominee. My father expired in Jan 2016 and My sister is in Pune but it's a hassle for her to look after the house.
I need to sell it now. My sister say's I have to send her an affidavit on her name as owner or can do the sell deed on y behalf.
Do you know any lawyer how can do it in Brampton or Mississauga.
Best Regards
Ram
I do not have an experience of selling home in India.
But I think best option is to prepare legal documents in India (Power of attorney or affidavit or whatever needs to sell house as per Indian law) and courier them here. You sign here in front of lawyer to notarize and send back to India.
-----------------------------------------------------------------
Success is Never Ending and Failure is Never Final.
I will give you a small bit of help. Work with it.
First the Property Value.: Say it is worth a Crore now.(Khoka) It was bought in the year 1960 for 1 lakh. An accountant or an Auditor can work the 'Cost of living factor' from the date your Father acquired it to this year 2016 and work the capital gains for you. That is a MUST.
Second. You are not on the title to the property as I see that you are a nominee there. Is there a WILL and if so is it registered. If NOT, are you very serious about the Nominee part in some document that you have.
If not, then hang onto the paper dearly. Let your Sister claim the property as hers and put it on the market and Sell it for the going price and she can sign the documents etc., as if she owns it and dispose it off. Now comes the best part. If she will part with all of the money so raised by the sale, then, ask her to go to any bank and see the manager and ask him to send you the entire sum through a wire transfer to your Canadian Account.
There is no law against it and a Sister can send any amount of money upto $250,000/year now to you. If it is more, then the balance the next year.
Does that help?
FH.
Why am I going this route?? Because, if you were to claim the property as yours and some one buys it in India, they will have to with hold a 30% of the sale proceeds and deposit it into the Indian Tax system and provide you with a receipt and you will have to file a return and claim the same after wards by filing a return. You will also need a Pan card and a Pan Number and all of the other paper work to go with it. When your Sister sells it, it will be a smooth sailing. Only hitch is she will have to part with the dough after she sells it, all of it for that matter.
You know you need an accountant. What are you waiting for. Hire one and fire your questions at him. They have done it many times for others. You will be well serviced by them. fh.
---
Quote:
Originally posted by ramohi
Hi,
I am in Canada and a Canadian citizen. I have a house in Pune which on my fathers name and I am the nominee. My father expired in Jan 2016 and My sister is in Pune but it's a hassle for her to look after the house.
I need to sell it now. My sister say's I have to send her an affidavit on her name as owner or can do the sell deed on y behalf.
Do you know any lawyer how can do it in Brampton or Mississauga.
Best Regards
Ram
Hi Full house....
Many thanks for your post...
Regards
Advertise Contact Us Privacy Policy and Terms of Usage FAQ Canadian Desi © 2001 Marg eSolutions Site designed, developed and maintained by Marg eSolutions Inc. |