Will /Property Will
How Write Will, Will may be a legal declaration of the intention of a testator with reference to his property, both movable and immovable. The essential characteristics of a Will are that it must be intended to come back into effect after the demise of the testator and it must be revocable by the testator at any time. Many disputes are often resolved at the very outset if there’s a transparent disposition of one’s property during a Will.
By means of a Will, one can appoint in writing, a testamentary guardian for his infant children. One can have somewhat greater provision for a handicapped child, a widowed daughter or an invalid parent.
Transfer Of Property Through Will
If an individual dies without a will, the law of succession applies supported the faith of the deceased. Since laws of marriage and succession are the foremost intricate among the religious laws, inheritance issues in India are very complicated. just in case of quite one heir, distribution of assets can cause family disputes,”.
If you would like your spouse to urge all of your properties after your death, you ought to still write a will mentioning this. “All the assets don’t automatically get transferred to the deceased’s spouse. The applicable succession laws (depending on one’s religion) usually provide for distribution of the assets among the natural heirs, which incorporates other relatives additionally to the spouse of the deceased,”
Transfer Of Property After Death Without Will In India
In the Hindu Succession Act, the rules governing the distribution of the assets in case of intestate death of a female are different as compared to the intestate death of a male. In case a male dies intestate, i.e. without making a will, his assets shall be distributed according to the Hindu Succession Act and the property is transferred to the legal heirs of the deceased. The legal heirs are further classified into two classes- Class I & Class II.
Class I heirs:
It consists of the immediate family linked by the male. It includes wife, son, daughter and mother. All the people in this class shall equally divide the share among themselves.
Class II heirs: Absence of Class I heirs
In case of absence of the class I heirs, as given above, the class II heirs will become entitled to the property of the deceased.
The class II heirs consist of many relatives who have been classified into categories and placed in a hierarchy. Preference is given to the one ranking above, wherein if there is even one member available in the higher (preceding) category then all of the property shall pass to the members in that category and none to the ones coming after that (succeeding).
However, if there is no one available in the higher (preceding) category then it shall pass to the members following next in the category (succeeding).
Transfer Of Property After Mother’s Death – Succession in case of Death of a Female
After the amendment of the Act in 2005, females have been given equal rights of inheritance as that of a male. However, the distribution of her property is different from a male. A lady is the absolute owner of her property whether self-acquired or inherited. Any property whether movable or immovable earned or inherited by her will be considered, either before, during or after the marriage, even before the commencement of the Act is her ‘Stridhana’
Stridhana is a term associated with Hindu Law. The character of property that is whether it is Stridhana or woman’s estate, depends on the source from which it has been obtained. A woman has inalienable rights over Stridhana and she can claim the same even after her separation from her husband.
A lady who dies intestate, i.e. without leaving a will, her assets will be distributed according the Hindu Succession Act.
According to the Act, the first right on her assets will be of her husband, son and daughter, including the grandchildren but only in case the children are not alive.
Gift deed:
A Gift Deed may be a document that records the act of giving a gift and is executed between the donor (the person giving the gift) and therefore the beneficiary (person receiving the gift). Though it’s not compulsory to execute a gift deed while gifting any asset, it does create a legitimate documentary record.
Legally speaking one that owns the property can make a present to the other person. An exception to the present rule is that the case during which either of donor or beneficiary may be a minor.
A gift once made can’t be revoked.
Gifts made to relatives defined by the tax Act are exempt from tax within the hands of the beneficiary.
Legal Heir Certificate
A Legal Heir Certificate identifies the rightful successor who then, can claim the assets/properties of the dead person. All eligible successors must possess this certificate to get a claim over the deceased person’s property.
The Purpose Of Legal Heir Certificate Required Is:
Transferring properties and assets of the demised person to his successors.
Claiming insurance.
Sanctioning and processing family pension of the deceased employee.
To receive dues like provident fund, gratuity etc from the govt
Receive salary arrears of the deceased, state or central Government employee.
To gain employment supported compassionate appointments.
Generally, for any property purchase or registration, the customer should request for a legal heir certificate to determine the ownership of the property. There are often instances, where there are several legal heirs for an ancestral property and in such cases, it’s required that each one legal heir’s check in the deed of conveyance giving their approval to avoid any litigation’s.
Succession Certificate
Succession certificate is a document issued by a civil court to the legal heirs of a deceased person certifying a rightful person to be the successor of such deceased person. This certificate authorizes the successor to realize the debts and securities of the deceased person.
A person who doesn’t leave a will on his death is claimed to possess died intestate. In such cases, the relations got to get a succession certificate to certify the legal heir who is entitled to say the assets in accordance with the succession laws. it’s mandatory for claiming assets like bank balance, fixed deposits, shares, open-end fund investments, etc.
Apply
A petition within the prescribed format must be made to the competent Civil Court—within whose jurisdiction the asset of the deceased is situated—by the legal heir claiming the asset. The petition should contain names of all heirs; details about time, date and place of death should be mentioned within the application. a replica of the death certificate has got to be produced.
Notice in Publication ( Newspapers ):
Once the petition is received, the court issues a notice within the newspapers alongside notice to all or any the respondents. The notice involves objections, if any, to issue succession certificate in favor of the petitioner.
Note: A Legal Heir certificate doesn’t substitute the Succession Certificate. It can be revoked/cancelled under certain situations. These may be fraud, defective proceedings, etc. Thereafter, the certificate becomes useless. The court, even if there is more than one heir, will only issue a single succession certificate.
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