Most of the NRIs and PIOs often ignore the needfor their ancestral property management. They feel worried about their insurances, investment, and other liabilities, but completely ignore their ancestral property. There are two reasons behind it, first, they do not feel the need for that, and secondly, they do not know the ways to protect their ancestral property and retain its value as a performing asset in their life. The current blog is an attempt to clear the air about this phenomenon for NRIs and PIOs.
The Aftermath of the Migration can be Jubilant as well as Disastrous
Let us travel back to the history of colonization in the USA, 16th century saw the tremendous migration of the people from African countries, Spain and UK. Most of them were bonded labors. “The lady of fortune” smiled on some of them they got some land as a compensation of their honest services. Now in the 16th or 17th generation down the line, their bloodline is enjoying a princely status in the same location where they were working as bonded labors. It happened because the first generation won the battle of livelihood and shelter and forthcoming generations got this opportunity to survive well and flourished well.
In Some Cases, It Was a Double Disaster Forced By Destiny
Let us have a look at the migration patterns of 16th and 17th century in America again. We told you the story of the people who got an opportunity to settle down in the land where they were working. However, many of them reverse migrated to their native land after finishing their contracts. They were the worst sufferers because they lost their roots completely their properties were all ransacked by others and they were forced to start their life from a zero all over again.
Let Us Come Out of This Stereotypical Dream and Face the Reality of 21stCentury
NRIs staying abroad are also feeling the same pang. According to various surveys, the employment opportunities for migrant population in the current world are declining. Economically speaking a big recession is all set to hit the world market. First world countries are cutting down the needs of human counterparts in their operations and to top the list the foreign policies and domestic policies are discouraging the concept of migrant laborers. It also means that PIO (people of Indian origin) are also under a threat where they can be forced to migrating back to their native lands. Now NRIs are also under this threat where they will be forced to start it with a big zero.
Control Your Destiny and Employ the Knowledge of Experts in Ancestral Property Management
NRIs and PIO can hire seasoned firms like Knowledgentia Consultants to handle their ancestral property management. There are many issues that require a constant attention, for instance, you need a watchdog to check the legal status of your property. Many NRIs and PIO lose their property because they fail to attend the litigations associated with the distribution of the ancestral properties. They can hire these firms for various types of plans. Knowledgentia consultants offers following professional services: –
- Property searches and preparation of due diligence report – Our legal team undertakes preparing a concrete due diligence report for all our clients after conducting a comprehensive search regarding title of the land/property. Our services include conducting a detailed search to registration as well as getting all ownership documents and deeds in order to enable our clients to have a clear status of the title of the concerned property.
- Transfer of property– We offer detailed legal advice and solutions regarding transfer of property by way of will, gift or sale deed. All formalities for the purpose of transfer of property including payment of stamp duty and other registration costs are taken care of by our experts who provide assistance in a time bound manner regarding any such issues.
- Partition of property-All formalities required to be conducted with respect to partition of joint land including contesting a partition suit are taken care of by our legal experts who are handling partition disputes since the inception of the firm. NRI’s have a limitation in terms of appearing and fulfilling the formalities but Knowledgentia Consultants bridges all the gaps through providing one stop window solution for partition of property/land.
- Litigation – Along with handling civil litigation, our legal team also handles criminal cases against NRI’s and overseas citizens in case they are declared proclaimed offenders or any FIR’s are registered. All possible situations including arrest and confiscation of passport are also taken care of by the experts in our legal team.
- Illegal transfer/succession/sale of property – Knowledgentia ensures and facilitates the recourse for illegal transfer or possession of property to the valid legal owners.
- Tenant/landlord disputes– any disputes or litigation arising with the tenant are also dealt with by our team.
- Will/succession– We also undertake preparation, registration and execution of will and succession certificates.
- Power of attorney– Power of attorney being a legal document of special significance needs to be prepared with a lot of care and caution. We offer detailed legal advice with respect to the same and also offer our services for preparation of General or special power of attorney as the case may demand.
- Land/property encroachment related disputes – Our team makes all endeavors to recover and ensure that the property is free from encroachment or any other legal impediment.
NRIs & PIO hire Knowledgentia Consultants to act as their local arm. We are renowned for our completely transparent process under which the prescribed time and cost are all explained to the client beforehand, furthermore, here are no hidden costs. Knowledgentia Consultants is highly popular among the diaspora of Africa, Canada, Australia, Singapore, Europe, the Middle East and USA.