Is acquisition and transfer of immovable property in india by a NRI?

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A person resident outside India who is a citizen of India (NRI) can acquire by way of purchase, any immovable property in India other than agricultural land/plantation property/farm house. He can transfer any immovable property other than agricultural or plantation property or farm house to: a) A person resident outside India who is a citizen… Read more »

Is a certified copy of will available to everybody?

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A certified copy of a registered will is available to the testator only during his lifetime. After his death anybody can obtain after producing proof of death of testator. Will can be deposited in a sealed cover in office of the District Registrar. A fee of Rs.500-00 prescribed to deposit will in a sealed cover…. Read more »

Why promote and protect intellectual property?

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There are many compelling reasons – First, the progress and well-being of humanity rest on its capacity to create and invent new works in the areas of technology and culture. Second, the legal protection of new creations encourages the commitment of additional resources for further innovation. Third, the promotion and protection of intellectual property spurs… Read more »

What is the stamp duty and registration fees for registration of a will?

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There is no Stamp duty on will deed. For registration of will during the life time of the testator Rs.100 Registration fee prescribed + User Charges applicable. To register the will after the death of the testator Registration fee of Rs.100 and enquiry fee including batta, processing expenses at actual will be collected. Will –… Read more »

What are intellectual property rights?

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Intellectual property rights are like any other property right. They allow creators, or owners, of patents, trademarks or copyrighted works to benefit from their own work or investment in a creation. These rights are outlined in Article 27 of the Universal Declaration of Human Rights, which provides for the right to benefit from the protection… Read more »

Are any documents required to be filed with the Reserve Bank after the purchase?

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No. An NRI / PIO who has purchased residential / commercial property under general permission, is not required to file any documents/reports with the Reserve Bank. Acquisition of immovable property in India by persons resident outside India (foreign national) is regulated in terms of section 6 (3) (i) of the Foreign Exchange Management Act (FEMA),… Read more »

Where can a will be registered?

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It can be registered in any office of the District Registrar/Sub Registrar Office of India. Under the general permission available, the following categories can purchase immovable property in India: Non-Resident Indian (NRI). Person of Indian Origin (PIO). The general permission, however, covers only purchase of residential and commercial property and is not available for purchase… Read more »

Which are the documents required to be compulsorily registered?

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Gift deed of immovable property. Other non-testamentary instruments, which purport or Operate to create, declare, assign, limit or extinguish whether in the present or in future, any right, title or interest, whether vested or contingent, of the value of one hundred rupees and upwards, to or in immovable property. Eg: Sale, mortgage, partition, release, settlement… Read more »

What are the organizations dealing with IPR’s?

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The World Intellectual Property Organization (WIPO) of the UNbased in Geneva,is the apexintergovernmental body dealing with IPR’s. Besides there are various international organizations implementing a number of global treaties in the realm of intellectual property. In India the Ministry of Commerce & Industry, Ministry of Human Resource Development, Ministry of Information & Broadcasting and the… Read more »

What happens if you do not register your ownership rights?

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Non-registration of ownership rights may lead to someone else use the intellectual property without any benefits to you and even assume ownership of the said property. Patent and copyright information also helps in avoiding duplication of research. A person may acquire immovable property in any of the following ways: By inheritance of ancestral property. Through will…. Read more »