Family arrangement in writing can avoid dispute over Property

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 21st July, 2021 and the online edition of the same can be found here.

My husband died in 2020 and left a house and a flat (currently on rent) in my name. Besides, there are some assets such as jewellery and fixed deposits that I intend to equally distribute among my two children. Should I get a Will registered for the purpose, since my son is not happy that I want to give an equal share to my daughter as well? How do I ensure that the property does not go into dispute after my demise?

—Name withheld on request

Continue Reading Family arrangement in writing can avoid dispute over property

The rights of a legal heir supersede the rights of a nominee
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The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 07th July, 2021 and the online edition of the same can be found here.

My father and mother passed away after they came down with covid. My father had made a registered Will in 2015. According to that document, my nephew has been named the claimant of all his liquid assets. However, after 2015, my father declared me as his nominee in almost all his bank accounts. Under these circumstances, who is the rightful claimant of my father’s liquid assets, my nephew or myself?

—Name withheld on request

Continue Reading The rights of a legal heir supersede the rights of a nominee

PROBATE REQUIREMENT IN DELHI & AROUND

Introduction

A probate is a certificate granted by the court in respect of a Will, which proves the validity of the Will and grants rights to the executor to administer the estate of the deceased testator in the manner set out in the Will. Post the demise of the testator, the executors named in the Will can apply to the jurisdictional court to seek a probate to establish the authenticity of the Will. Continue Reading Probate Requirement in Delhi & Around

Maiden name won't cause complications in property dealings
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The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 23rd June, 2021 and the online edition of the same can be found here.

I bought a house in my name in 2007 after marriage. At that time, I had my PAN card and bank accounts in my maiden name. So, the house was registered in my maiden name. Later, I changed the name in my PAN card and bank accounts when I added my husband’s surname to my maiden name. Now, the house is registered in my maiden name, while all my documents and IDs have my husband’s surname added to my name. Will this anomaly create a complication later if I plan to sell the house or plan to bequeath it? What do I need to do to avoid this complication in future?

—Mrs Khare

Continue Reading Maiden name won’t cause complications in property dealings

Until death do us part’ - Can a celebrity’s publicity rights be inherited

 

“After a while you learn that privacy is something you can sell, but you can’t buy it back.”

-Bob Dylan.

 

Every celebrity possesses a universal and intangible asset – their public image. They spend years cultivating it and protect it fiercely. Like a game of chess, every public interaction becomes a calculated move. However, can this ‘asset’ be inherited? Continue Reading ‘Until death do us part’: Can a celebrity’s publicity rights be inherited?

 

Property transfer will take place under HSA in case there's no will
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The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 9th June, 2021 and the online edition of the same can be found here.

My father passed away in 2016. He left behind a house where I stay with my wife, mother and younger brother, who is unmarried. My mother is willing to transfer the house to my brother and I as a gift. So, these are my questions. First, what is the process for getting the ownership changed to my brother and I? Second, what are the fees to be paid to the government, if any? Third, how much taxes are we supposed to pay? Fourth, is there a time limit to transfer the ownership? Fifth, how much will it cost in lawyer fees?

—Name withheld on request

Continue Reading Property transfer will take place under HSA in case there’s no will

Registration of immovable property must for valid, marketable title
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The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 7th June, 2021 and the online edition of the same can be found here.

My elder sister and I are the only two surviving legal heirs of our father, who had passed away in 1973. We are cultivating our father’s share in some land in farming in our ancestral village in Punjab. The mutations are still continuing in the joint names of our father and his brothers.

As we are now senior citizens we are looking to consolidating these landholdings. My sister has two sons and I have two sons. She may not wish to have any share transferred in her name, but would prefer to gift the same to me or to my sons. How should I proceed to obtain mutations in our names? Will it be necessary to first transfer the property in our names and thereafter further apply for transfer of her share to me or my sons?

– Name withheld Continue Reading Registration of immovable property must for valid, marketable title

The validity of a Will is determined by a testamentary court

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 26th May, 2021 and the online edition of the same can be found here.

My grandmother executed a Will and got it registered at the sub-registrar’s office. While putting her thumb impression, she did it twice. She is educated and appended her signature on it. The staff captured her image and took her thumb impression on the computer, too. Will it affect the genuineness of the Will?

—Chimnay

Continue Reading The validity of a Will is determined by a testamentary court

If the property is ancestral, you could claim a right in it

 

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the  following Q&A which was published by the Mint Newspaper on 12th May, 2021 and the online edition of the same can be found here.

My paternal grandfather wrote a Will for an equal distribution of a house to his son (my father, who died in 2010) and grandsons (my brothers) without any mention about the granddaughter (me). I have four brothers. The elder one voluntarily parted ways after a mutual agreement in 1990. He is now deceased. Now, the remaining three brothers are claiming equal rights on the property based on my grandfather’s Will. But my assumption is that I’m allowed to claim my share in the property too based on inheritance rights.

—Kusuma Continue Reading If the property is ancestral, you could claim a right in it

In your Will, add a guardian for minor children
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The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in the  following article which was published by Livemint and the online edition of the same can be found here.

A disturbing trend from the second wave of covid is the increasing number of orphaned and vulnerable minor children across India. While some minors have lost both their parents, others are in a situation where their surviving parent is unable to take care of oneself or the family. Families are often confused and scared about what to do in such scenarios. Parents admitted to certain hospitals are being made to sign declarations about their children’s ‘custody’ if they do not survive.

Continue Reading In your Will, add a guardian for minor children