How to Protect and Maintain Your Property in India While Living in the U.S.
I have come across many Indians who are staying in the USA and having their property in India in the form of a house or land. I am also having my own house in India and I spend my most of the time here at the USA as I am USA resident. At times it becomes very tricky and difficult to
maintain the property in India while staying here in the USA. I have tried to cover few very useful tips for all my AC friends having their own property in India. I am sure these tips will help them to maintain their valuable assets in India properly while residing in the USA.
First of all, make sure that your property is in your own name and the legal documents to this effect are very clear. Sometimes such property is in the name of some cooperative society, which can create problems for you in future. You must preserve all these legal documents of your property very carefully in your home country. The bank safe deposit box is one such location. You must keep at least one Xerox copy of these documents with you here at the USA. The next aspect is to arrange paying your all utility bills for the property regularly in time during your absence. The bills can be for electricity, cooking gas, Municipal house tax, water tax, telephone services, bank safe deposit box rentals, and the education tax. These bills come every month except for the Municipal house tax bills which come only once in a year. I would suggest paying these bills in advance while you are visiting India.
First of all, make sure that your property is in your own name and the legal documents to this effect are very clear. Sometimes such property is in the name of some cooperative society, which can create problems for you in future. You must preserve all these legal documents of your property very carefully in your home country. The bank safe deposit box is one such location. You must keep at least one Xerox copy of these documents with you here at the USA. The next aspect is to arrange paying your all utility bills for the property regularly in time during your absence. The bills can be for electricity, cooking gas, Municipal house tax, water tax, telephone services, bank safe deposit box rentals, and the education tax. These bills come every month except for the Municipal house tax bills which come only once in a year. I would suggest paying these bills in advance while you are visiting India.
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