Are you confused about the Property Rights Of NRI And PIO?
Today, let me tell you about the Inheritance rights of NRI and PIO. This is a Definitive Guide of Expert Tips regarding Property inheritance by Non-Resident Indians and Person of Indian Origin.
These are the commonest queries by my NRI and PIO clients regarding property inheritance rights.
Can a Non Resident Indian ( NRI) or a Person of Indian Origin (PIO) inherit property in India?
A Non-resident Indian (NRI) or a Person of Indian origin (PIO) is treated almost at par with an Indian Citizen vis. inheritance of any immovable property in India.
An NRI can inherit immovable property in India. This property may be residential or commercial.
Can an NRI inherit agricultural land or a farmhouse?
A Non-resident Indian (NRI) or a Person of Indian origin (PIO) can inherit agricultural land or a farmhouse also. (Don’t confuse with purchasing such land or farmhouse)
Can an NRI inherit property from another NRI?
An NRI or PIO can inherit property in India even from another NRI or PIO. (some conditions and legal requirements are applicable)
Does an NRI require RBI permission to inherit property in India?
YES and NO.
In most cases, an NRI does NOT require RBI permission to inherit property in India.
However, the Reserve Bank of India-RBI’s permission is necessary if the inheritance is in the favour of a foreign citizen, who is a resident outside India.
I hope you like and have found- Expert Tips To Property Rights Of NRI And PIO useful.
If you are an NRI or a PIO and have inherited property in India, you must seriously consider either knowing the relevant laws and procedures regarding property in India or engaging professional services for managing and securing the property you have inherited.
Supreme Court of India
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DISCLAIMER: Through this article, we wish to help those who are in genuine need of help and are willing to understand the law. This is not a solicitation, advertisement or a substitute of professional legal advice. It does not create any client-attorney relationship.