For most, property transaction at times is a rather baffling and complicated exercise that involves too much of running around. If search for right property turns out to be too cumber some then running a backgrounder check on chosen one and then going around financial institution for loans before narrowing down on one , is just another painstaking process.
It is in this backdrop, the Bangalore –based real estate bank of India (REBI) promising to provide one stop solution for all property need has opened its first master franchisee ‘Orange Infraa’ in Hyderabed. Positioning itself as an end–to-end services provider in real estate sector, it offers to help a customer with transparent transaction in brokerage, financial, database and relocation services under one roof.
The REBI operates through franchisee model and has already commenced operation in Karnataka, karala, Tamil Nadu and west Bengal apart from extending their services in Sri Lanka. The plans are to expand the operation across the country and also spread the network to countries such as Dubai, UK, US, Sin- gapore,Malaysia and Australia....
My mother is Resident Indian and is with me in the USA currently. She would like to give Power of Attorney to my father for a land that she owns. How should we proceed? What are the forms required? Where can we get them?
Our panelist, Mr.R.L.Narayanan replies:
The process of executing a Power of Attorney is quite simple. Your mother can have a Deed of Power of Attorney made, which includes powers granted in favour of your father to sell the property, receive the sale consideration, execute and register Sale Deeds, etc. The powers conferred can also include other aspects relating to sale as may arise in usual course. It is advisable to have this registered as it has better acceptability in the market. The Agent need not attend the registration....
My grandfather has a valuable property (a land of 5 cottah(720 sq.feet per cottah) on which our residence is built taking half of the land and my father and uncle are to inherit it. My father is dead leaving behind six daughters and six sons. We live on the first floor and uncle with his family on the ground floor. Suddenly, one fine morning we saw some other people living on the ground floor and uncle’s family missing. We enquired and came to know that my uncle had sold his share to them and gave them possession.
Let me know whether it is possible for my uncle to do it. Anish Chakraborty
Our panellist, Mr. R.L.Narayanan replies: The correct facts and circumstances under which the property was taken by your father and uncle are not clear. Further, what kind of documentation exists between your father and uncle will also matter. What you are referring to is perhaps a right for you and other heirs of your father to purchase the property, in preference to others. This depends on facts and circumstances. It is also not clear when your uncle has sold the property. Further, the rights of third parties have also intervened. In the circumstances, you will have to consult your advocate if you have any right of enforcing the purchase as above. ...