GOA - Buyer Beware!
#1906
Account Closed
Joined: May 2006
Posts: 1,146
Re: GOA - Buyer Beware!
We can moan and rant and rave but no one is going to help us either the Goan advocates or the British Government.We also were advised to make a will.That fiasco alone at the sub registrar should have told us what a ***** up the whole bureaucratic system in Goa is.What a laugh that was.It was a public will read out at the sub registrar in front of all and sundry who were registering births deaths and getting married.I never laughed so much in my life.I have never attended anything so funny.The will cost us the equivalent of £80 English quid,mind you it was worth this just for the experience.But what was it all for.Our kids are never going to be able to own the property.It isn't worth the paper it was written on:curse::curse::curse::curse::curse::curse:
#1907
Account Closed
Joined: May 2006
Posts: 1,146
Re: GOA - Buyer Beware!
I have been following the threads for some time and have a question for the Learned ones.
Having noticed in one of Nonis threads that individuals may have taken out Goan wills (persumably to protect their property). Is it possible therfore for an indian person to will their property to FNs and would the Indian government allow it to happen. Also is it possible for an indian person to make a gift of property to a FN. Would this be covered by FEMA?
Having noticed in one of Nonis threads that individuals may have taken out Goan wills (persumably to protect their property). Is it possible therfore for an indian person to will their property to FNs and would the Indian government allow it to happen. Also is it possible for an indian person to make a gift of property to a FN. Would this be covered by FEMA?
#1908
Re: GOA - Buyer Beware!
We can moan and rant and rave but no one is going to help us either the Goan advocates or the British Government.We also were advised to make a will.That fiasco alone at the sub registrar should have told us what a ***** up the whole bureaucratic system in Goa is.What a laugh that was.It was a public will read out at the sub registrar in front of all and sundry who were registering births deaths and getting married.I never laughed so much in my life.I have never attended anything so funny.The will cost us the equivalent of £80 English quid,mind you it was worth this just for the experience.But what was it all for.Our kids are never going to be able to own the property.It isn't worth the paper it was written on:curse::curse::curse::curse::curse::curse:
An Advocate who Andy holds in high esteem advised us to make a Will to save children getting into any legal difficulties in having the Apartment in their names when were 'called home to the lord!. We were at Mapsa Registry Office from 9.30 with an Advocate and two witnesses until 4.15. and sorry GC I did not find it funny I :curse:was :curse::curse: Fancy being advised to bequeath property we should not have owned in the first place.
#1909
Account Closed
Joined: May 2006
Posts: 1,146
Re: GOA - Buyer Beware!
An Advocate who Andy holds in high esteem advised us to make a Will to save children getting into any legal difficulties in having the Apartment in their names when were 'called home to the lord!. We were at Mapsa Registry Office from 9.30 with an Advocate and two witnesses until 4.15. and sorry GC I did not find it funny I :curse:was :curse::curse: Fancy being advised to bequeath property we should not have owned in the first place.
#1910
BE Enthusiast
Joined: Jun 2005
Location: Irvine, North Ayrshire Scotland
Posts: 725
Re: GOA - Buyer Beware!
I found this link which seems (towards the end of the article) to imply that it is a complaint about the purchase of agricultural land .. It refers to 482 transactions - worrying.
http://timesofindia.indiatimes.com/G...ow/3945093.cms
http://timesofindia.indiatimes.com/G...ow/3945093.cms
A lot of the Goan community have no idea what is going on and the guys have had lots of support from them, as indeed they risk losing their homes if found to be agricultural land!!!!!
The whole system is a big joke, the guys went to the RBI and where told if they have the deeds in their name and live in the property they can sell no problems!!!!!and if you send copies of your deeds with a letter saying that it is your intention to sell they have said they will send a letter saying its ok lol
watch this space because i'm sending my letter tomorrow.
#1911
Re: GOA - Buyer Beware!
The complaint is unfounded against them as the land their house was built on was converted to residential in 1920, the previous owner of the house they purchased and other houses on the plot has come forward with all the relevant documents and they have submitted them to the DofE
A lot of the Goan community have no idea what is going on and the guys have had lots of support from them, as indeed they risk losing their homes if found to be agricultural land!!!!!
The whole system is a big joke, the guys went to the RBI and where told if they have the deeds in their name and live in the property they can sell no problems!!!!!and if you send copies of your deeds with a letter saying that it is your intention to sell they have said they will send a letter saying its ok lol
watch this space because i'm sending my letter tomorrow.
A lot of the Goan community have no idea what is going on and the guys have had lots of support from them, as indeed they risk losing their homes if found to be agricultural land!!!!!
The whole system is a big joke, the guys went to the RBI and where told if they have the deeds in their name and live in the property they can sell no problems!!!!!and if you send copies of your deeds with a letter saying that it is your intention to sell they have said they will send a letter saying its ok lol
watch this space because i'm sending my letter tomorrow.
or will it be more mumbo jumbo
#1912
Banned
Joined: Oct 2008
Posts: 2,478
Re: GOA - Buyer Beware!
Heard to-day very worrying for those who have bought here, that a person in Candolim has been given notice to appear before the court next week to say if/how much black money they paid the builder, as part of their purchase price and to account for their finances.
Of course no-one on here would have done such a thing, but thought you should know.
Please don't ask for more details............................
Of course no-one on here would have done such a thing, but thought you should know.
Please don't ask for more details............................
Last edited by noni; Feb 18th 2009 at 2:55 am. Reason: taken out personal details.
#1913
Re: GOA - Buyer Beware!
'For Sale' signs are appearing on properties owned by FN's who have Registered their Deeds. Is there any way in which they can legally sell at this particular time? If they are not under investigation by the D of E we have been told that they will when the sale proceeding starts. Any answers?
#1914
Re: GOA - Buyer Beware!
'For Sale' signs are appearing on properties owned by FN's who have Registered their Deeds. Is there any way in which they can legally sell at this particular time? If they are not under investigation by the D of E we have been told that they will when the sale proceeding starts. Any answers?
No single investigation by the D of E (to our knowledge) has had an "all clear", No Objection Certificate, or legal endorsement of the legitimacy of their property purchase. To allow FN's to sell would be tantamount to admitting the legality of the initial purchase, and this does not appear to be the remit of the D of E. It would also overrule the State Governments instruction to the Sub Registrars.
According to the illegal, unconstitutional, and as yet unsigned (by the President of India) amendment (22A) to the Registration Act (1908) by the State Government of Goa, all Sub Registrars have been instructed to treat purchases and Sales by FN's as "against the public interest" (i.e; ignore them).
We know of an NRI couple who recently sold their holiday apartment in Candolim ("had enough of Goa"). They had no problem since they were NRI's with registered Sale Deeds selling to NRI's. Incredibly, even at this late stage and with so much negative publicity about the FN property scandal, two of their prospective buyers were FN couples who had no NRI, PIO or OCI status. The Sub Registrar was quick to inform the sellers that they would not consider registered purchase by FN's. Evidently, the Estate Agent who has an office on the Baga Road had been misleading the potential purchasers.
Likewise, we know of FN's who have marketed, found their eligible buyer and, after all that stress been declined at the Sub Registrars.
If anyone knows of a way to sell a freehold villa with Registered Sale Deed to a NRI, PIO, OCI or Indian (not bought from a builder), and get the Sub Register to endorse the paperwork, I am open to suggestions (not hearsay, and preferably by p.m).Thanks.
#1915
Re: GOA - Buyer Beware!
IMHO, FN's who place their property For Sale are further unnecessarily lining the pockets of Estate Agents and Advocates. Such action will also inevitably bring them under the scrutiny of the Department of Enforcement.
No single investigation by the D of E (to our knowledge) has had an "all clear", No Objection Certificate, or legal endorsement of the legitimacy of their property purchase. To allow FN's to sell would be tantamount to admitting the legality of the initial purchase, and this does not appear to be the remit of the D of E. It would also overrule the State Governments instruction to the Sub Registrars.
According to the illegal, unconstitutional, and as yet unsigned (by the President of India) amendment (22A) to the Registration Act (1908) by the State Government of Goa, all Sub Registrars have been instructed to treat purchases and Sales by FN's as "against the public interest" (i.e; ignore them).
We know of an NRI couple who recently sold their holiday apartment in Candolim ("had enough of Goa"). They had no problem since they were NRI's with registered Sale Deeds selling to NRI's. Incredibly, even at this late stage and with so much negative publicity about the FN property scandal, two of their prospective buyers were FN couples who had no NRI, PIO or OCI status. The Sub Registrar was quick to inform the sellers that they would not consider registered purchase by FN's. Evidently, the Estate Agent who has an office on the Baga Road had been misleading the potential purchasers.
Likewise, we know of FN's who have marketed, found their eligible buyer and, after all that stress been declined at the Sub Registrars.
If anyone knows of a way to sell a freehold villa with Registered Sale Deed to a NRI, PIO, OCI or Indian (not bought from a builder), and get the Sub Register to endorse the paperwork, I am open to suggestions (not hearsay, and preferably by p.m).Thanks.
No single investigation by the D of E (to our knowledge) has had an "all clear", No Objection Certificate, or legal endorsement of the legitimacy of their property purchase. To allow FN's to sell would be tantamount to admitting the legality of the initial purchase, and this does not appear to be the remit of the D of E. It would also overrule the State Governments instruction to the Sub Registrars.
According to the illegal, unconstitutional, and as yet unsigned (by the President of India) amendment (22A) to the Registration Act (1908) by the State Government of Goa, all Sub Registrars have been instructed to treat purchases and Sales by FN's as "against the public interest" (i.e; ignore them).
We know of an NRI couple who recently sold their holiday apartment in Candolim ("had enough of Goa"). They had no problem since they were NRI's with registered Sale Deeds selling to NRI's. Incredibly, even at this late stage and with so much negative publicity about the FN property scandal, two of their prospective buyers were FN couples who had no NRI, PIO or OCI status. The Sub Registrar was quick to inform the sellers that they would not consider registered purchase by FN's. Evidently, the Estate Agent who has an office on the Baga Road had been misleading the potential purchasers.
Likewise, we know of FN's who have marketed, found their eligible buyer and, after all that stress been declined at the Sub Registrars.
If anyone knows of a way to sell a freehold villa with Registered Sale Deed to a NRI, PIO, OCI or Indian (not bought from a builder), and get the Sub Register to endorse the paperwork, I am open to suggestions (not hearsay, and preferably by p.m).Thanks.
#1916
Re: GOA - Buyer Beware!
yes,FEMA covers gifts and bequests:
gifts to non-resident FN's are a No!
BUT non-resident FN's CAN inherit from residents or from non-residents who were resident when they bought.
FEMA is readily available on the web, and is easy to understand - why not read it all for yourself?
AndyD 8-)#
gifts to non-resident FN's are a No!
BUT non-resident FN's CAN inherit from residents or from non-residents who were resident when they bought.
FEMA is readily available on the web, and is easy to understand - why not read it all for yourself?
AndyD 8-)#
#1917
Re: GOA - Buyer Beware!
actually this is quite a reassuring article - apparently a constitutional amendment needs a 2/3rds majority so that's not going to happen; and it also notes (for the first time in print afaik) that the Goa amendment to the Registration Act needs Presidential assent.
AndyD 8-)#
AndyD 8-)#
#1918
Forum Regular
Joined: Sep 2007
Posts: 71
Re: GOA - Buyer Beware!
Heard to-day very worrying for those who have bought here, that a person in Candolim has been given notice to appear before the court next week to say if/how much black money they paid the builder, as part of their purchase price and to account for their finances.
Of course no-one on here would have done such a thing, but thought you should know.
Please don't ask for more details............................
Of course no-one on here would have done such a thing, but thought you should know.
Please don't ask for more details............................
#1919
Re: GOA - Buyer Beware!
May be it is a different guy. I have heard to same story and know the people concerned. See what happens in a few weeks - if anything
#1920
Just Joined
Joined: Feb 2009
Location: Peterborough/Candolim
Posts: 28
Re: GOA - Buyer Beware!
yes,FEMA covers gifts and bequests:
gifts to non-resident FN's are a No!
BUT non-resident FN's CAN inherit from residents or from non-residents who were resident when they bought.
FEMA is readily available on the web, and is easy to understand - why not read it all for yourself?
AndyD 8-)#
gifts to non-resident FN's are a No!
BUT non-resident FN's CAN inherit from residents or from non-residents who were resident when they bought.
FEMA is readily available on the web, and is easy to understand - why not read it all for yourself?
AndyD 8-)#
Ok, I am willing give it a try only because you said it was easy to understand and I will read it all. I wonder how many others have actually read it and really understood it