Ownership rights for Non-Resident Indians (NRIs) regarding property in India are well-defined. NRIs are allowed to own property in India, which includes both residential and commercial properties. The acquisition of property is subject to certain conditions and restrictions as per the Foreign Exchange Management Act (FEMA) regulations. NRIs can own property by: Purchase: NRIs can purchase...
August 2023
Joint property ownership is a legal arrangement in India where multiple individuals collectively own a property, such as land or a house. This ownership structure has both advantages and disadvantages. Pros: Shared Financial Burden: Joint ownership allows multiple parties to pool their resources and share the financial burden of acquiring the property, making it more affordable for everyone...