Can a person bequeath his or her house to a foreign nation?
My mother wishes to bequeath her house to me. I am currently a foreign national, holding the OCI card. Which is the best way for her to pass ownership of the house to me and do I have to pay any taxes by way of inheritance?
- Sector-1, Noida
If she writes her will in your favour, there are no taxes or estate duty to be paid by way of inheritance. Will comes into play after the death. But if you want the property to be transferred during her life time, then it is Gift Deed which she may execute for which stamp duty has to be paid on transfer.
Answered on 28 Sep 2018
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