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-   -   A potential solution ? (https://britishexpats.com/forum/goa-170/potential-solution-564785/)

Mzee Oct 1st 2008 10:14 pm
A potential solution ?
 
I have been reading with interest the long thread about the difficulties that everyone has had registering their properties and I wonder if there is a way round it - this is just a thought. On completion, the developer grants a 999 year lease to the lessee (Purchaser) without any constraints and also signs a Declaration of Trust for the freehold i.e. that they hold the freehold on trust for the purchaser. It is just a thought, I am not sure what legal status such documents have in Goa but worth investigating .... At present everything seems to be in limbo and this may be at least a way of safeguarding the right to the property and then having it registered.

morse Oct 2nd 2008 1:12 am
Re: A potential solution ?
 
Originally Posted by Mzee (Post 6838338)
I have been reading with interest the long thread about the difficulties that everyone has had registering their properties and I wonder if there is a way round it - this is just a thought. On completion, the developer grants a 999 year lease to the lessee (Purchaser) without any constraints and also signs a Declaration of Trust for the freehold i.e. that they hold the freehold on trust for the purchaser. It is just a thought, I am not sure what legal status such documents have in Goa but worth investigating .... At present everything seems to be in limbo and this may be at least a way of safeguarding the right to the property and then having it registered.
Not sure but I don't think this is possible - but I know somebody who bought from a "white friend" on a 99 year lease!!!! would not trust the friend with a geko.

a_f_d Oct 2nd 2008 1:22 am
Re: A potential solution ?
 
Originally Posted by Mzee (Post 6838338)
I have been reading with interest the long thread about the difficulties that everyone has had registering their properties and I wonder if there is a way round it - this is just a thought. On completion, the developer grants a 999 year lease to the lessee (Purchaser) without any constraints and also signs a Declaration of Trust for the freehold i.e. that they hold the freehold on trust for the purchaser. It is just a thought, I am not sure what legal status such documents have in Goa but worth investigating .... At present everything seems to be in limbo and this may be at least a way of safeguarding the right to the property and then having it registered.
FN's can not have a lease for more than 5 years less a day - although there is some legal info to suggest that a Deed agreeing to continually renew a lease might be enforcible.

AndyD 8-)#

enfield951 Oct 2nd 2008 2:15 am
Re: A potential solution ?
 
There are lots of potential solutions,unfortunately they are all in gift of the
Polititians, Federal or State.
They could for instance declare a moratorium on agreed sales up to a certain date e.g 31st December 2007,and make future purchases subject to scrutiny
regarding the residency Qualification by the RBI.
Alternatively they could do as per Thailand and allow FN's to buy Apartments
(Condo's) only with a 49/51% split per block FN's and Indian Nationals.
Houses only to be purchased by bona fide companies with the land on 30 year renewable leases.The possibilities are endless.
The smart money is on nothing happening any time soon!! ;);)

Honey Bee Oct 2nd 2008 2:59 am
Re: A potential solution ?
 
Originally Posted by a_f_d (Post 6838878)
FN's can not have a lease for more than 5 years less a day - although there is some legal info to suggest that a Deed agreeing to continually renew a lease might be enforcible.

AndyD 8-)#

I Agree Andy - but you know how people are getting conned.
Are you in Candolim now?

a_f_d Oct 2nd 2008 10:50 pm
Re: A potential solution ?
 
Originally Posted by enfield951 (Post 6838981)
There are lots of potential solutions,unfortunately they are all in gift of the
Polititians, Federal or State.
They could for instance declare a moratorium on agreed sales up to a certain date e.g 31st December 2007,and make future purchases subject to scrutiny
regarding the residency Qualification by the RBI.
Alternatively they could do as per Thailand and allow FN's to buy Apartments
(Condo's) only with a 49/51% split per block FN's and Indian Nationals.
Houses only to be purchased by bona fide companies with the land on 30 year renewable leases.The possibilities are endless.
The smart money is on nothing happening any time soon!! ;);)
Enfield, if by 'they' you mean the Goa Gov. then legally they can't do any of those things cos' Transfer of Property is a Centre matter.
Not that the law seems to matter as sweet Fanny might say!

AndyD 8-)#

a_f_d Oct 2nd 2008 10:59 pm
Re: A potential solution ?
 
Andy - Are you in Candolim now?
yup, sun; grubby sand** and Kingfisher - actually it was G&T yesterday 'cos I failed to stock up before the Mahatma's dry birthday party!

** the roadsides do actually seem a little bit better than 6 months ago.

cheers (_)? AndyD 8-)#

noni Oct 3rd 2008 2:07 am
Re: A potential solution ?
 
Originally Posted by a_f_d (Post 6841343)
yup, sun; grubby sand** and Kingfisher - actually it was G&T yesterday 'cos I failed to stock up before the Mahatma's dry birthday party!

** the roadsides do actually seem a little bit better than 6 months ago.

cheers (_)? AndyD 8-)#
:rofl::rofl: Any pavements in Candolim since March :lol:

enfield951 Oct 3rd 2008 7:38 am
Re: A potential solution ?
 
Originally Posted by a_f_d (Post 6841321)
Enfield, if by 'they' you mean the Goa Gov. then legally they can't do any of those things cos' Transfer of Property is a Centre matter.
Not that the law seems to matter as sweet Fanny might say!

AndyD 8-)#
By 'they' I mean any legislators , but it is really only' pie in the sky',because as we know it just wouldn't happen.
Perhaps we should press for the UK,Russia and any other interested countries to obtain an agreement from the Indian Government that their nationals won't attempt to buy 'property ' in India as long as the Indian Government prohibit their nationals from doing the same in 'our' countries !
Any property already held to be dealt with as agreed by the parties as long as it is the same for Indians as us.

morse Oct 3rd 2008 8:52 am
Re: A potential solution ?
 
Originally Posted by enfield951 (Post 6842440)
By 'they' I mean any legislators , but it is really only' pie in the sky',because as we know it just wouldn't happen.
Perhaps we should press for the UK,Russia and any other interested countries to obtain an agreement from the Indian Government that their nationals won't attempt to buy 'property ' in India as long as the Indian Government prohibit their nationals from doing the same in 'our' countries !
Any property already held to be dealt with as agreed by the parties as long as it is the same for Indians as us.

I Totally agree with you - what is good for one is good enough for the other.
Perhaps we should swop our villas for any indian property in UK.

hemingway Oct 3rd 2008 10:09 pm
Re: A potential solution ?
 
Originally Posted by morse (Post 6842609)
I Totally agree with you - what is good for one is good enough for the other. Perhaps we should swop our villas for any indian property in UK.
I also totally agree with Enfield & Morse - what's good for the goose etc etc.

If we can pick which Indian's property that we would like, could I have Lakshi Mittal's place on Kensington Palace Gardens please. . . . . . . . . . . .

Hemingway

Honey Bee Oct 3rd 2008 11:56 pm
Re: A potential solution ?
 
Originally Posted by hemingway (Post 6843622)
I also totally agree with Enfield & Morse - what's good for the goose etc etc.

If we can pick which Indian's property that we would like, could I have Lakshi Mittal's place on Kensington Palace Gardens please. . . . . . . . . . . .

Hemingway

Hope you like Hindi colours - you can spot local indian houses miles away, and they don't use curtain rings to hold the curtains up.

But then we can always call in the "60 minute make over" team. :rofl:


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