Tuesday 21 April 2009

Whether a non-resident can inherit immovable property in India?

Yes, a person resident outside India i.e.
  1. an NRI
  2. a PIO and
  3. a foreign national of non-Indian origin can inherit and hold immovable property in India from a person who was resident in India. However, a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan should seek specific approval of Reserve Bank.

A person resident outside India (i.e. NRI or PIO or foreign national of non-Indian origin) can inherit immovable property from (a) a person resident in India. (b) a person resident outside India However, the person from whom the property is inherited should have acquired the same in accordance with the foreign exchange regulations applicable at that point of time.

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