Can you imagine the children and neighbors of seniors in India (or the United States) subjecting the seniors to verbal and physical abuse over their decision not to sell or transfer their property? Sounds like the children want to sell the house and pocket the money. If they lived in the United States in 2005, they could transfer the deed to their names and get a cash out refinance loan without having to prove any income and sucking all the value out of their ancestral home. The real estate bubble part 2…Live from the Indian Subcontinent. The survey team interviewed 1,183 people above the age of 60, randomly selected from localities across Delhi, in the latter half of 2007. Fifty-two per cent said they had faced harassment or abuse — physical and emotional — from their children, family, tenants or landlords to vacate their home.
The Indian Parliament recently passed the Maintenance and Welfare of Parents and Senior Citizens Bill, 2007, providing for three months’ imprisonment for those who abandon or do not look after their parents. Legislation of the treatment of parents is a new thing and maybe the US will have something similar in the coming years but Indian Society is very patriarchal. So much for dropping mom and dad off at the nursing home….
For more information on the article of Senior Abuse over Property rights, click here.