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MP (Analyst)     28 October 2014

Bankrupt estate property sale

Hi,

 

I have come across this website while searching for information on selling property in India.  I work for an insolvency and bankruptcy firm in Perth Western Australia and we have been appointed the Trustees of a bankrupt estate that holds property in Chennai, India. I have some queries about the sales process of a property held under a bankruptcy trustee and was wondering if you can advise me regarding the following:

 1)      Does the Trustee need to be present at the point of sale to transfer the title deed;

 2)      Is a Trustee allowed to sell a property in India as part of a non-resident Indians bankrupt estate; and

 3)      What are the legal requirements of selling a property in India.

Any help provided would be much appreciated.

Thank you



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