Wills, Probate & Succession

Can I buy property in any other state across India?

Each and every state in India has different policies and rules for buying and selling properties. You should go through them through reliable sources before thinking about it.

What are the eligibility criteria to apply for a loan against property?

You must have achieved the age of 21 years and a piece of self- occupied property. A regular source of income is also desirable.

What is benami transaction?

The term benami has originally been generated from Persian language which means property without a name.  Section 2(a) of the Benami Transactions (Prohibition) Act, 1988 states , “‘Benami transaction’ means any transaction in which property is transferred to one person for a consideration paid or provided by another person.”

What are the documents to be verified before buying any property?

 The title deed, encumbrance certificate, Pledged land, Property Tax receipts and Measurement of Property are the primary documents which need to be verified before buying any property.  

What does the term ‘’gift’’ mean in connection with property?

The transfer of a piece of movable or immoveable property that is made voluntarily without any considerations from the receiver is called ‘’gift’’. The person who transfers the property as gift is known as donor and the receiver as donee.

Can a foreign national buy property in India while staying on a tourist visa?

No, not at all. No foreign national can buy a property in India while on a tourist Visa. A tourist visa lasts only for 180 days and to own a property in India, it is necessary for foreign nationals to justify the residency requirement of at least 183 days in a financial year. 

What does intellectual property stand for?

Intellectual property stands for those creative pieces of work that cannot be measured in terms of money. This type of property includes designs, inventions, formulations, phrases and symbols.

What's the difference between a rent agreement and a lease?

A rent agreement stands for tenancy for a shorter period, and a written lease, on the other hand, gives tenants the right to occupy a place for set term. Lease is particularly made in case of commercial spaces and rent agreement in the residential ones.

What are the common rights of a tenant?

Right to demand an agreement, payment receipts, right to drop contract, serve notice to landlord and right to use common areas of the society are a few common rights of a tenants. 

Can an eloped girl make any claim over the FD of her father?

If a girl runs away from her home without following family or societal norms, her father has the right to take back all the money deposited by him in her daughter’s bank account at the time when was a minor.

Pages

Subscribe to RSS - Wills, Probate & Succession