Punjab mulls amending law allowing overseas Pakistanis to easily buy, sell property

The Punjab government in Pakistan is planning to amend the 116-year-old Registration Act of 1908, specifically targeting Section 31, to facilitate overseas Pakistanis in owning and selling property without legal complications. This reform aims to modernize and streamline the property transaction process for Pakistanis living abroad, who previously faced numerous legal challenges and potential fraud due to the antiquated law.

### Key Points of the Proposed Amendment:

1. **Direct Submission at Embassies:**
   - Overseas Pakistanis will be able to submit their statements for the sale deed directly to their respective embassies.
   - This eliminates the need to travel to Pakistan to register a power of attorney for property transactions.

2. **Current Law and Its Complications:**
   - Under the current law (Section 31 of the Registration Act 1908), overseas Pakistanis must register their power of attorney and send it to Pakistan.
   - The designated individual in Pakistan with the power of attorney has the legal authority to carry out the transaction in person.
   - This process has often led to legal issues and fraud, complicating property transactions for those living abroad.

3. **New System Implementation:**
   - The Punjab government and the Ministry of Foreign Affairs (MOFA) are collaborating to create a system where certain MOFA officers at foreign embassies will have the powers of sub-registrars.
   - Immigrants will appear before a local commission officer, designated by the Foreign Office at their embassy, to complete property transactions.

4. **Verification and Execution:**
   - The person buying or selling the property in Pakistan will be present at the sub-registrar’s office.
   - Verification will be conducted through the NADRA (National Database and Registration Authority) system to ensure authenticity.

5. **Benefits for Overseas Pakistanis:**
   - The amendment will save overseas Pakistanis significant amounts of time and travel expenses.
   - It aims to reduce legal hurdles and the risk of fraud, providing a more secure and efficient process for real estate transactions.

### Implications:

- **Ease of Property Transactions:**
  - This change will significantly simplify the process for overseas Pakistanis to engage in property transactions, making it more accessible and less cumbersome.

- **Enhanced Legal Security:**
  - By involving embassy officials and using the NADRA verification system, the amendment aims to enhance the security and legality of property transactions, reducing the risk of fraud and legal disputes.

- **Economic Impact:**
  - Facilitating smoother property transactions for overseas Pakistanis could potentially boost the real estate market in Pakistan by encouraging more investments from abroad.

This initiative reflects the government's commitment to addressing the needs of overseas Pakistanis and modernizing legal frameworks to support their interests.