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Tanmay Patnaik

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Partner in the Private Client Practice at the Mumbai office of Cyril Amarchand Mangaldas. Tanmay specialises in family constitutions and settlements, trusts, wills and succession planning. He can be reached at tanmay.patnaik@cyrilshroff.com

 

 

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A family settlement agreement offers a hassle-free solution
Source: Livemint.com

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 13th October, 2021 and the online edition of the same can be found here.

We are two brothers and one sister. In the event of our parent’s demise, we brothers stand to inherit some immovable property and we plan to pay some amount to our sister in settlement. What is the right way to execute this?

⁠— Name with held on request

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Continue Reading A family settlement agreement offers a hassle-free solution

A Will is invalid in the absence of witnesses
Source: Livemint.com

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 29th September, 2021 and the online edition of the same can be found here.

Do married daughters have rights over their father’s self-acquired property if the father passed away in 1999, which is before the Hindu Succession (Amendment) Act, 2005? Also, the daughters in this case were married before 1986, after they received proper settlements with land plots and were told that they would have no share in the remaining property of the father, earmarked for the sons. The father also wrote a Will stating that all his acquired property will go to his wife and sons alone. But due to his illness, he could not get it signed by two witnesses. Also due to change of residence and his death, only a photocopy of this Will was found. Can this Will be used in any way?

—Name withheld on request

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Continue Reading A Will is invalid in the absence of witnesses

Rights of 'members' of an HUF remain extremely limited
Source: Livemint.com

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 14th September, 2021 and the online edition of the same can be found here.

What is the status of the wife of the grandson in a Hindu undivided family (HUF)?

—Shiv Kumar Jha

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Continue Reading Rights of ‘members’ of an HUF remain extremely limited

Probate Compulsory for a Will to bequeath property in Mumbai
Source: Livemint.com

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 18th August, 2021 and the online edition of the same can be found here.

I reside in Mumbai with my family in a flat transferred to me as per the Will of my father after his death. Now, I wish to sell this flat. I have two siblings, one in Mumbai and another in Chennai. For selling the flat, is it necessary to get their approval? Do they have to sign the sale deed, as the Will is not probated? My brother in Chennai is unable to move out of his house due to ill health. Is it necessary to get a power of attorney (PoA) from him to sell the flat? If yes, how can it be done? Is it necessary that I must also be present to sign in the PoA? Also, considering the health of my brother, is there a provision to call the registrar home and certify the PoA deed? Please advise.

—Mallika G.

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Continue Reading Probate Compulsory for a Will to bequeath property in Mumbai

Siblings get estate in intestacy if parents pre-decease owner
Source: Livemint.com

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 04th August, 2021 and the online edition of the same can be found here.

My elder brother and his wife died recently. They don’t have any children and have not left behind a Will. We were three brothers of whom now I am the sole survivor. We also have two sisters who are married. Now, who will be the successor to my late brother’s property, including movable and immovable assets?

—Name withheld on request

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Continue Reading Siblings get estate in intestacy if parents pre-decease owner

Family arrangement in writing can avoid dispute over Property
Source: Livemint.com

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

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Continue Reading Family arrangement in writing can avoid dispute over property

The rights of a legal heir supersede the rights of a nominee
Source: Livemint.com

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

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

Maiden name won't cause complications in property dealings
Source: Livemint.com

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

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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
Source: Livemint.com

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

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