No gift deed can be executed for agricultural land in favour of foreign citizen
Inherit ancestor's agriculture land
Can a US citizen (OCI) inherit an ancestor's agricultural land from his cousin (father's brother's son)) as a gift. Both the OCI and his cousin have the same grandfather.
Asked 3 years ago in Property Law
Religion: Hindu
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5 Answers
This will not be an inheritance, but it would be termed as a transfer and such transfer of agricultural; property to NRI/OCI is prohibited.
Dear client as per Indian laws a gift to foreign citizen is guided by Foreign Exchange Management Act 1999. And as per that no hift above INR 17000 me made directly to foreign citizen.
It can only be inherited through will and cannot be gifted during lifetime
Nops but only by way of inheritance.
