Selling a property is not as easy as it sounds. For people living outside India selling your properties in Punjab can be a complex job. Moreover for people living abroad selling inherited property involves a lot of legal regulations and inferences. At someday if you come to know that you’ve inherited Punjab property, you for obvious reasons would be lured to reap all the benefits and profits from it. Let us now get an understanding of the ideal ways of selling your properties in Punjab.
How people living in Canada, UK, USA, Australia & Europe Sell Inherited Properties in Punjab – The Process?
To start with the process of selling the inherited property by People living outside India (NRI) must be confirmed for the clear title as well as ownership. This process can be initiated by checking the Will as a reference if it was left behind by the last property owner in concern. The ownership can be ascertained by fetching the ‘patta’ or ‘khaata’ records from the Municipal Corporation.
In case the title has not been transferred as per the records but is only stated in the will than the process named ‘mutation of property’ must comply with. This states that an NRI needs to get the title of the inherited property transferred in his/her name. If there is no will then in order to obtain the title of the property one must get the succession certificate issued by the court.
Documents Required for Selling Inherited Property in Punjab:
There is the number of documents which an NRI requires to have in place for selling his/her inherited Punjab property. The documents required are as follows:
1. Original agreement of purchase: This document is also called as the title of the property.
2. Original share certificate: The Co-operative society wherein the property is to be sold issues this particular document
3. PAN number: When it comes to selling any property, a pan number is mandatory for NRIs.
4. Form 60: In case you can’t provide your PAN number then you need to submit a Form 60 to the office of the registrar.
5. Sanctioned property plan: The property owner also needs to have an occupancy certificate as the plan of the inherited property which is on sale requires approval from the municipal authorities.
To summarize, the general requirements mentioned above simplifies the complete sales procedure.
Looking for a reliable company to help you sell your land or properties in Punjab? No worries, we at Punjab NRI Property have got you covered. We have an expert team that handles property disputes and selling of properties without any hassle. To learn more about our services and administrative solutions, email us at firstname.lastname@example.org or call at +91-9779397777 (INDIA), +44- 2088435300(UK).