Dear client
When buying a property from an NRI (Non-Resident Indian), there are several precautions you should take to ensure a smooth and legally sound transaction. Here are some steps you can consider:
Verify Ownership and Title: Ensure that the property's ownership and title are clear and free from any encumbrances or disputes. You may want to hire a local lawyer or property expert to conduct a title search and verify the ownership documents.
Check KYC and Sale Deed: Investigate the differences in the wife's name in the KYC and sale deed. This could be a potential issue, and you should understand the reason behind it. It's essential to ensure that the seller has the legal authority to sell the property.
Power of Attorney: Since the seller has given a power of attorney to his brother-in-law for selling the property, verify the authenticity of the power of attorney document. It should be properly notarized and registered, and you should consult with a legal expert to ensure its validity.
Embassy Attestation: If you want the sale deed to be signed at the embassy, this is typically referred to as "consular attestation" or "embassy attestation." The exact procedure can vary depending on the country and embassy involved. You should contact the relevant embassy or consulate to inquire about their specific requirements and procedures for attesting legal documents.
Due Diligence: Conduct thorough due diligence on the property, including checking for any outstanding property taxes, utility bills, and other dues. Ensure that all these are cleared before the transaction.
Draft a Clear Sale Agreement: Have a legally binding sale agreement that outlines all the terms and conditions of the sale, including the purchase price, payment schedule, and the responsibilities of both parties.
Consider an Escrow Account: Consider using an escrow account to hold the funds until all legal requirements are met, and the property is transferred in your name.