No person shall, without prior approval of the Government of Nepal, sell, donate, mortgage or otherwise transfer ownership of any immovable property to a foreign citizen, foreign body corporate or foreign nation. If any such property is so transferred or received, such property shall devolve on the Government of Nepal. If any money of a creditor is involved, it shall be equivalent to unsecured money.
If any foreign citizen is to obtain any immovable property by virtue of succession or partition, that property shall not be registered in his or her name nor shall he or she be entitled to receive any income from it except in cases where he or she has resided in Nepal upon obtaining the citizenship of Nepal in accordance with law. Such person is entitled to sell or otherwise transfer such property a citizen of Nepal. Any transaction done in violation of the foregoing provision shall be void and that property shall devolve on the Government of Nepal.