buying property on third party name

Business Manager

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


 

 
Reply   
 
retired banker

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.

 
Reply   
 


practicing advocate

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.

 
Reply   
 
Business Manager

Dear Sir,

Thanks for your reply.

Actully at present i don't its record on my name. That is the reason i want to know is there any way to get it assured the return of property.

Brgds,

Yogi

 
Reply   
 

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.

 
Reply   
 
Business Manager

Hi Ganesan,

Thanks for the reply. Yes, i undestand what do u mean. So is there any way to get assured the re-transfer? Are there any agreements /deeds which protects the re-transfer?

Brgds,

Yogi

 
Reply   
 

Execute a registered agreement for transfer of property  of the proposed property from your friend.

 
Reply   
 
Business Manager

Dear Sir,

Thanks once again for your suggestion. How this can be done and Is it secured enough to get assured the re-transfer?

Brgds,

Balaji

 
Reply   
 
law officer

Contact Local lawyer

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

  Search Forum








×

Menu

Post a Suggestion for LCI Team
Post a Legal Query
CrPC MASTERCLASS!     |    x