Hey Friend,Despite the fact that the Indian real estate market has once again become quite favourable for NRI investors, there is still a reticence to make investments due to concern over the potential legal repercussions. The laws regarding self-acquired properties are the same whether they are jointly owned by a couple or by siblings, whether it be a piece of land, an apartment, or a standalone home.Check Out NoBroker’s NRI Property Management Services!Need help understanding property documents? Want to conduct due diligence on property? Check NoBroker legal servicesUnless there is a clear indication of a specific percentage share for each co-owner, each sibling is regarded as an equal owner of any property inherited from parents. If a sibling decides to split up, the other siblings have two options: they can either decide to buy out the separating member's part or they can issue a surrender deed covering the entirety of the portion of his property.However, I would like to suggest that you consult an expert property lawyer who can assist you with your query in a perfect way. I hope this helps:)Read More:Can NRI sell property in India without physical presence?
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How to secure interest of one party when property is owned by two NRI brothers?
Sandeep Shah
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September 26, 2022
2022-09-26T21:45:17+00:00 2022-09-27T18:04:08+00:00Comment
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