parents can execute will bequeathing property to you by will .property would be transferred in your favour on parents demise
2) they cannot execute gift deed during their lifetime in your favour
My father/mother bought some agri land, I have OCI, can this land be transferred to my name?
I need help, please. Some articles cover this topic. Which states that OCI holders can in general get inherited property registered. If my dad/mom bought the property from their savings, then what happens to those properties? Can OCI card holders own that property by transfer after the death of their parents?
Asked 3 years ago in Property Law
Religion: Other
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
9 Answers
1. After the lifetime of your parents, you can inherit the agricultural landed properties, inspite of your status being OCI Card Holder.
2. You, being an OCI Holder, can't buy agricultural property, but you can inherit the agricultural property of your deceased parents and own it.
3. If your parents die intestate ( without executing WILL), then the property would devolve equally to all the legal heirs, including you.
4. After the lifetime of your parents, you can inherit and get the agricultural landed property transferred to your name, alongwith other legal heirs.
No it can only be Inherited through will
The OCIs or NRIs or foreign citizen can inherit the agricultural property after the lifetime of the respective property owners.
- Yes, an OCI card holder can get the inherited property by way of a registered Will , but cannot get the agiculture land by way of gift deed etc.
As per RBI/2013-14/4 Master Circular No. 4/2013-14 up dated to now, oci, pio, nri can inherit agricultural land from their ancestors including father living or deceased.
Sorry, the only confusion I have before I hire an advocate/lawyer for this is around the word "inherit" What is an inherited property? case1. Anything that my parent owned becomes inherited property (or) case2. It is limited to properties that were passed down from my grandparents to my father. Case2 is a subset of case1. case1 can consist of properties that my father bought with his own money. Let's assume there is no property that was passed down by my grandparents at all. My Father bought a bunch of properties with his own money. Can I now register them in my name assuming I am the only living survivor? Regards Thank You
Asked 3 years ago
1. Inheritance of property means succession, the devolution of property on an heir or heirs upon the death of the owner.
It is a process which involves the passing on of material property from one generation to another, usually within the family, generally from older parents (donors) to their adult children (heirs), which is completed after the death of the older generation.
Thus inheritance happens only after the death of the property owner (be it self acquired or his/her own inherited property). You can inherit the agricultural property only after the death of your father even though he had transferred it by Will.
Any property standing in name of your parents shall devolve on you on their demise intestate
they can also by will bequeath property to you
it would be inherited property and you can carry out mutation in your name as only survivor
similarly properties passed by your grand parents to your father shall be inherited by you on their demise
Inherited property is property received from your legal heirs through will