Can anyone help me to know the ways to get registered property 1st on third party name and how to get it assured its smooth retention back on own name.
At present im in overseas and want to buy property in India on relatives name. I would like to retain it on my name after 5-years.
Brgds,
Yogi
You can buy the property in your own name even now. You can give power of attorney to your friend/relative to represent you in the sale transaction. You have require to send an enclosure affixing your photo, signature and thumb impression. Any document writer nearby Registrar's office will explain the procedure and handover the blank enclosure to your friend/relative for this purpose. This document canbe scanned at your end but after affixing your photo, signature and thumbimpression, you may have send the originals through courier to your representative. He will be also signing the registration deed in the capacity of your representative. You ask your friend/relative to assist u in purchasing the property in your own name by contacting the document writers for this purpose.
It isbetter to purchase the property in your own name instead of purchasing it in other person. Who knows what will be in his mind after 5 years.
You transaction will be a benami transaction. There will be no authenticated chance that after 5 years whether the 3rd person retransfer the same to your name? because after 5 years the land value may rise.
Execute a registered agreement for transfer of property of the proposed property from your friend.
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