Hi I am planning to buy a Indian( residential)property from a person who was origin of India and now citizen of Canada. The seller had jointly acquired this property with her husband, however her husband died in the year 2008 and left the probated WILL made in Canada. The seller has two children's both the children's are married. The seller is holding OCI card, pan card, NRO account and Canadian passport. The society has transferred share certificate on sellers name and also all maintenance bills. The original agreement from builder has names of seller and husband. Since I was planning to take a loan they did title search which is clear, we also did paper publication saying husband has died and now they are willing to sell property. We have got NOC from advocate. There is also power of attorney given to her sister who's residing in india(though she will be coming herself to sell and do registration). We are also getting POA from children's attested in Canada and will be registered in india. Please guide me what other things should I take care incase of buying property from her? Seller also knows she is liable to pay 23% TDS which will be deducted by myself. Let me know you guys need some other information. Thanks
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On demise of husband wife and her 2 children would be legal heirs
2) her 2 children need to execute gift deed or relinquishment deed to transfer their share in flat in name of mother
3) mere transfer in society records does not confer clear and marketable title to the property
4) you have to deduct TDS from sale consideration paid to the seller
1. Since husband was holding 50% share in flat, after his demise his share will go to your seller and her 2 children
2. As society has already transferred share certificate to seller's name, there is nothing much to worry about
3. But if possible it would be better to get noc of the 2 children for the intended sale
4. However if under the Will of the husband, his share is bequeathed to seller, and the Will has been probated through court, then the noc of the children can be done away with
5. Why have you called for the PoA of children?
6. Rest all looks good to go
Mere transfer of share certificate on sellers name and maintenance bills does not suffice that the title is clear and free from any defects.
In this case, after the death of the husband, his wife and 2 children are the class one legal heirs and hence, the children would have to relinquish their rights to their mother by way of gift deed or relinquishment deed.
Then only, the mother will have complete ownership of property and would be able to transfer its rights to you.
You'll have to deduct TDS.
1. Since there is Will on seller name the seller is owner of complete portion of the flat.
But for precaution you can take noc from the children's also.
Further if will is not concerned to said flat then all three mother and 2 children will have equal share and all 3 have to be registered.
For that if POA is made it can be attested in Canada and can be stamped with indian embassy and then can be further verifying with SDM in Indian.
2. You have to take TAN registration and deposited the TDS amount .
3. If registered through poa read POA care fully and see whether stamped properly or not
All is well, you have all go ahead
Good Luck!!!
1. The other legal heirs of the seller shall have to execute and register the POA in favour of the seller before the appropriate officer of Indian Consulate at Canada.
2. Thereafter the seller can execute and register the sale deed in your favour before the Registrar in India and apply for transfer of the share certificate of the Society in favour of yourself.
3. You shall have to deduct 23% TDS while making payment to her and shall have to deposit the same with the I,Tax department within the stipulated period of time.
No in this case you can go ahead.
The information provided by you in this regard seems to be perfectly alright especially when the bank is also said to have given okay for this.
Whatever worth it is, you may obtain a second legal opinion from a local lawyer before venturing into the purchase.
Hope WILL executed by husband, he bequeathed his complete share in her. than objection from children and mother of deceased if alive over.
Than rest is fine, smooth deal.
