Consideration in favor of GPA holder.
I am going to buy a plot of 1000 sq.yrd, it is on the name of 2 brothers, both are NRI, one brother is coming in india with the registered GPA by 2nd brother in his name. he also has letter of consent & NOC which mention that he can have all sell consideration on his name. Is it valid to make all sell consideration in favour of GPA holder only. is there any ruling by supreme court regarding this matter?
You are advised to check all the title deeds at least 14 years prior. You can purchase the property through GPA holder, provided that, the sale consideration should be paid though demand draft or cheque in the name of the owner of the property according to their share of the property.
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