Smooth Transfer Of Inheritance From Parents To NRI Children- The Guidelines To Follow
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- เผยแพร่เมื่อ 10 ก.พ. 2025
- #nri #nrimoneyclinic #financialplanning
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Thanks a lot, sir for sharing the important and useful video.
Thank you for your videos; they are very educational.
The term "NRI" itself seems discriminatory. No other country uses such terminology to distinguish between its citizens living inside or outside its borders. Many services are unavailable to NRIs, and even basic government service apps are restricted for them, including different income tax provisions. Our country greatly benefits from remittances from NRIs, more than many other nations. Despite having a significant number of its citizens living abroad, services are limited due to a closed mindset. Instead of solving a problem, the government often opts to just shut everything down. There are too many restrictions on making payment transactions or paying bills. It's well known that almost all NRIs invest in India and send money back.
I'm surprised that no one is questioning why the country treats NRIs differently. Sir, could you please make a video on this topic?
W
Well said
Very informative and extremely helpful video . Thank you.
One of the Best Channel for NRI to understand Money and its right usages.
Greatly appreciate Dr.rajeev
What you said about commercial real estate is not clear. Some digital ownership? I didn't cat that at all and don't know where to search for more information. Thanks to anyone who can fill in these blanks for me!
Thank you sir....🎉🎉🎉🎉🎉
Great video n discussion
Can a father transfer his property/ house etc to his son with gift deeds and is it needed to be registered on stamp paper? Without any will , while Father is alive. ..
Yes father can gift if he is ok to cede control. For the gift deed to be effective for immoveable property it should be registered after paying applicable stamp duty depending on the jurisdiction of such property. However, for transfer via a will such stamp duty is not applicable
If parents want to sell the property’s and send the money to NRI children How can we do it What is the process
No reply for any queries sent
Great talk. Have a question. We have properties/savings in my name and wife’s name and in joint. Do we have to prepare 2 separate WILLs, by self and wife? Or we can include all above mentioned in one sinhle Will signed by both?
Sir you are the best
Please advise the formalities to follow when funds received from sale of father's property is transferred to own son abroad, especially the tax implications, and other expenses that may arise in India
Very helpful
detailed smooth and exhaustive explanation...thanks for the information. azad H Popatia
What is the capital gains tax if there is loss in sale
In some countries there are laws regarding the division of inheritance, such as not giving one child more than another. Are there any such laws in India, such that even authentic wills could be contested because they dont respect the laws of division.
excellent smooth detailed explanation. What are normal charges for services rendered.azad popatia
I live in pondicherry with my wife,we are in our seventies and oci card holder,both of us in a wheelchair so do you have a office here?
Hello Sir,
Thank you, Please add some details on
When parent is alive, and they give money Indian Rupees, and NRI wants to transfer money.
what is process?
Does a will made in the U.K. cover assets in India if they are not specified as such on the will? Does the term ‘residuary estate’ in a British will include property/ money you wish your children to inherit in India?
In UK you need to see a solicitor about will and assets in India..... almost certainly you will be advised that an Indian will is required made in India and witnessed in India
Bank and savings accounts need careful attention to have trusted family nominees in the event of death
What about HUF
IS IT BETTER TO BREAK IT WHEN YOU ARE OLD
How to transfer funds from property sale from india to nri by parents
If you make a will in the U.K., will a will made in India revoke the will made in the U.K.? Sometimes British will makers tell their clients that they don’t know about the law in India and they cannot give them an informed answer? Can you please clarify this kind of scenario?
First of all I should thank you for providing such an important topic. I ave question say the will is executed by the parents under two witnesses but it is not registered. Now if the parents pass away so as the witnesses can this will be still valid?
Does a will need to be registered in India....please ask your advocate who made the will
Its just an advertising video > But if we ask them on how to create those documents and there are no answers
What is the implication of estate duties on assets inherited in india?
India currently has no estate duty and therefore no implications as such in India. That said, law in your home country should also be examined to understand if there are any implications. Usually assets received via inheritance by NRIs from Indian residents parents are not subject to estate duty even in the home country of the NRI.
India has no inheritance tax at present. In UK there is inheritance tax which is 40 percent and includes foreign assets in India so you should get Indian assets valued at death
Somehow I feel the whole gamut of discussion is having a son or sons are NRI. But what about if you hv one daughter NRI and one daughter or son Indian citizen. What type of bank account needs to be there if the stay of parents are NRI type
Great advice thank you so much I love your videos .
When parent is alive, and they give money Indian Rupees as gift and NRI wants to transfer money.
what is process?
My parents have sold a property and they want to give that money to me and I need this money in UAE. Will in need to pay 20 % tax this property was bought using money that I transferred to India every month in last 10 years. Amounts were small 30k 1 lack a month
I had this experience already when my Dad passed away. i stayed for 6 months to get all the paper work done and then left the country to my country of residence being an OCI holder. I practically was giving bribe to the RDO and VDO everyday which was more than the govt. taxes and charges.
What is RDO and VDO. Need to know these steps as they are integral to the transfer process.
Sir, I am a oci card holder from uk. My parents are passed away. Am I still eligible to register my parents agricultural land on my name please?
Thank you
Yes, you can. You can not buy agri property but, you can get inherited agri property.
Yes , as an OCI cardholder, you can inherit agriculture land but not purchase it. Do note that, if your parents haven't written a Will and if you have siblings, all of them will be regarded as legal heir and may require additional documents such as succession certificate/ legal heir certificate (depending on the jurisdiction) before the title transfer can be undertaken.
A succession certificate will require court fees of 750 uk pounds over a certain amount and can take over 2 years ...if the court raises objections it can take even longer .....😢
Pl. Convey the transfer of benefits to minor grand son who on accoint of his birth being at foreign country and thus became foreign citizen. However, the minor child pare to are NRIs
I mean minors right In respect of NRIs kids who born at foreign country.
Should you make a will in India and check that your property or village belongs to Waqf Muslim board?
A will is meaningless if it is contested by one child who is not happy. The case goes to court even though a will was registered in a law full way. I speak from personal experience. A will is actually useless. The parents should transfer property while they are alive.
This will thing is NOT entirely that easy. ANY WILL CAN BE DISPUTED and that i where all hell breaks loose
I’m new here. Very informative videos. Can you please explain about inheriting ancestral property and land?
No discussion about the transfer of funds from INR in india. ....to USS IN USA
This discussion isnt specific to NRIs
Discussion May please be to the point-Immovable( Real estate)& Movable( Financial investments).
How to include assets in the will that would be created after the will has been written? For example financial assets created/generated subsequently?
You can update your Will any number of times to include assets that you acquire post writing your first Will. Having said this, capturing a clause on how to deal will future assets will give guidance to your family on how these assets have to be dealt with in case you have not updated the Will. In the Yellow platform, refer the section on "Residuary Assets" to specifically address this very situation.
Invaluable service sir
Can a will be changed without notice to the original nominee of the 1st will ?
Absolutely without any issues and any number of times.
Do you offer services for NRIs in New Zealand?
Yes , we do
Is will made outside India valid in India
Sir, can u pl clarify whether it is necesssry to make a Joint-Will (if permitted by law) by Joint owners (parents) for a single immovable property for inheritance to their only son (no daughter)?
Dependant on wishes of your parents. Ideally its best for them to write a separate Wills casting their wish for their specific interest in the immoveable property.
Can I get succession certificate when my parents are alive?
No you cannot do that ....but your parents😅 can make a will in India
What a waste of time for the first 10 minutes. Just telling what everyone already knows. Come to the solution part faster man ! Also very repetitive words. Each point has been explained in painful repetition !
Very TRUE 😂😂
No use video, very misleading😮
Why are written legal wills transferring property to living partner of death have to share with children who are grown up and cannot have property in her name unless children have automatic right to share and selling becomes a nightmare nearly taking almost 18 months😢
@RameshPatel-ph3ie Did not understand your question. That said, I will attempt a response from what I could gather. In India, if you pass away without a Will then basis your religion, gender, etc the law defines how your assets have to be transferred. Further, it is not automatic, you still have to approach courts to obtain a succession certificate, legal heir certificate, etc before the asset transfer can happen which results in substantial cost and delayed timelines. Instead by having a Will in place this process can be avoided and more importantly your assets can be transferred as per your wish which may not necessarily align with what the law mandates.
After one partner dies and will states property to go wife yet in India the authorities insisted wife entitled to property if son and daughter also inherit part of property .son and daughter not in will were asked to give undertaking that they do not want any share and mother to get the full right.both son and daughter live in Uk.
@@RameshPatel-ph3ie Which jurisdiction was the immovable asset? and was it a registered will?
Waste of time watching this
Not useful. Waste of time.
Very interesting and informative like to contact for inheritance for my children iamm 66 yrs now pls help and contact me foe creati g will or transfer of property when i am still active
Thanks