I am living in US for 17 years and became US citizen October 2015. My brother who is living in India gifted me the property in India, July 2015. He registered that property in my name in 2014, that time I was not an US citizen.
Now I want to sell that property in India and transfer the money to US bank. I have accounts with Citi and State Bank in US. Once I sell the property in India the buyer will give me the cash only, its worth of $50,000. I want to use that money for my daughters’ education.
Could you please advise me how to transfer the money from India to US bank? Can my brother send the money to my account? Since I am US citizen now, is any issue to sell the property in India?
Appreciate your feedback and response! Aruna