I am planning to buy a property in the name of my partner am not married to yet. I want to secure a small property for her in sikkim as she is a resident there. Is it possible that I become a joint owner or atleast somewhere I can make an agreement saying property cannot be sold in future till my consent is taken or appropriate value with appreciation for the money lent to buy property is paid to me before any sale agreement is made in future. Pls advise how to protect myself in the best way.
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Don’t purchase property before your marriage
2) only after marriage purchase property in her name
3) Only Sikkimese residents are permitted to buy land here. Article 371F of the Constitution of India, which grants special provisions to Sikkim, prohibits sale and purchase of land or property involving outsiders. In addition to this, only tribals can purchase land and property in the tribal areas of the state.
4) your consent would not be necessary for sale of property
It would be better if you enter into an agreement (loan) with your partner. Lend this money to your partner at substantial interest rates and transfer that amount through banking channels.
Hello,
After purchasing the property, get a POA in your name thereupon mentioning the required conditions.
Regards
See as you are not domiciled in Sikkim you cannot buy a property in your name therefore cannot be joint owner.
To protect.your right you can do is make a irrevocable power of attorney.
Secondly you can make a friendly loan agreement for the amount you are investing so that in worst case scenario you can recover your amount back .though interest cannot be charged on such loan keep that in mind.
Or a mortgage deed for amount saying that you have given friendly loan for that property is mortgaged to you.
Dear Sir,
You can do the proposed joint ownership by way of MoU (Memorandum of Understanding) or partnership deed etc. Your interest in the said property will be protected and it cannot be sold without your specific written consent.
Dear Client,
Only Sikkimese residents are permitted to buy land here. Article 371F of the Constitution of India, which grants special provisions to Sikkim, prohibits sale and purchase of land or property involving outsiders. Any such agreement is void. You can lend her money to purchase property so that at least you can recover the money if any dispute arise.
You can't buy land in Sikkim unless.
You're a local subject and are Sikkimese by birth.
instead marry a local Sikkimese girl for purchasing property.
Dear Sir,
In Karnataka also similar conditions applies when a person purchases a property in Karnataka he must have agricultural land. But in case of joint purchase then both the persons must individually satisfy the conditions, please check the same in Sikkim State.
There is a protected place for primitive tribe Lepchas in Sikkim, where even the domicile holder of Sikkim cannot buy a land.
Sikkim was an independent country, which was made an associate state as late as 1974. Next year in April, when Chogyal (king of Sikkim) was removed by India, the elected representatives of Sikkim asked India to make Sikkim a full-fledged state.
Hence, the constitution was amended by 36th amendment on April 1975 to make Sikkim a part of India. Sikkim was very sensitive towards its identity. So Article 371F was added, to protect the unique identity and old laws of Sikkim.
This article in our constitution protects our unique Identity and culture. And not allowing other people to buy property in Sikkim is a part of it.
This being the situation you may not even be a joint owner of the property proposed to buy in your friend's favor.
Better not to take any risk, instead you can give her a loan and make a loan agreement for the amount lent.
