Benami property fraud Karachi?
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Section: Affordable Legal Services Karachi Can you summarize the topic of Benami property fraud Karachi mentioned in the text and the main point that should be included in the ?
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“Benami property fraud Karachi is nothing new to Karachi, a well-known issue. The property market in Karachi is on a high, but it seems like the bad guys are always getting away with their crimes. There is a lot of corruption in Karachi. see But what we need now is professional advocacy to defend the interest of property owners who are being robbed at their doorsteps. This type of property fraud can take many forms. It could be an individual or a company, but the damage is the same: The buyer does not
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I am the top expert lawyer in Karachi, In 2017, Benami property fraud cases in Karachi were reported more than in any other city. People were robbed of their properties worth millions. In one such case, the accused had stolen Rs12 crore from the property. The accused had a house worth Rs1 crore in Badin, Shaheed Benazir Bhutto International Airport (SBBIA) Karachi. The police had recovered more than Rs30 crore worth of fake money from the accused,
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A benami property is a legal fiction in which a real property is registered in the name of an owner other than the legal owner. This leads to concealment of ownership and a double income. A beneficiary acquires ownership but does not own the property. A common example is where real estate developer transfers his unit into a trust and buys another unit in the name of his friend or relative. In the process, the developer and beneficiary end up with ownership, while the unit in question becomes the beneficiary’s property. This issue has been in
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I have been doing the law for about 18 years now, I know, the worst scourge that is being inflicted on Karachi city — Benami property fraud. The scandal that has erupted in Karachi is called `benami property fraud`. The practice, in which real property has been sold on the basis of fake documents, is rampant in Karachi. In my personal experience, I have heard that fake property transfers, the transfer of fake property to real people by a person who is not real, is a
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Benami property fraud is a highly prevalent problem, wherein property is purchased using fictitious names by an individual. This is done to misappropriate the proceeds of sale and keep the real owner of the property from recovering the money. It has been rampant in Karachi, and the authorities have yet to make any headway in eliminating it. A report by Karachi Police indicates that 1,745 cases of benami property transactions were registered in 2018. A person can purchase a house for as little