In a landmark decision, the Punjab government has decided to amend the 116-year-old law to introduce a hassle free system for overseas Pakistanis for sale and purchase of their properties in their home country.
Reports said the provincial government has prepared a draft for amending the law, a move that will legal complications in the property sale and purchase process. Reports said the amendment will be made to Section 31 of the Registration Act 1908.
As per the draft, Pakistanis living abroad can record their statement for sale deed at their respective embassy. It would save their time and travel expenditures of millions of rupees.
Under the existing law, the overseas Pakistanis are required to visit their respective embassies to get the power of attorney. The attorney is later sent to the relevant person in Pakistan, who appears before the registrar to complete the sale and purchase process of the property.
“Due to old laws, overseas Pakistanis often faced not only legal complexities but also instances of deception and fraud when buying and selling their properties.
How Overseas Pakistanis in Dubai Can Sale Property Without Visiting Pakistan?
Pakistanis living in Dubai, UAE, will be able to visit the nearby Pakistan embassy to record their statement for sale deed instead of sending power of attorney for selling their property, if the law is amended.
