Intestate

The recent Supreme Court (“SC”) judgment in the case of Arunachala Gounder vs. Ponnuswamy[1] is a significant one since it focusses on whether a sole daughter could inherit her father’s self-acquired property dying intestate, prior to the enactment of the Hindu Succession Act, 1956 (“Act”). It also delves into the order of succession after the death of the said daughter.

In this blog, we analyse the judgment and its impact on the property rights of Hindu women and widows under the Act.

Continue Reading A daughter’s right: Inheritance and devolution of her father’s self-acquired property

Succession Toolkit

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article, which was published by the Outlook Money on 1st April, 2022 and the online edition of the same can be found here.

Intestate succession planning laws in India are unfavourable for women. So, women must use the tools available and become the decision-makers in how their assets are transferred. The Covid pandemic has shown that life is fragile, and tragedy can strike any time. In the course of conversations with clients, we find that most women do not undertake succession planning, and even fewer understand the need for an estate plan. This is mainly due to lack of awareness, and because they usually tend to look to their husbands and/or other family members to deal with their assets. This needs to change, especially at a time when women are becoming wealth creators in their own right and are increasingly running large family businesses. Many women today are also inheriting valuable portions of the family business.

One can execute a Will just by signing it and having it attested by two witnesses. There is no requirement for having the Will mandatorily registered in India


Continue Reading Your Succession Toolkit

Intestate
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 24th March, 2022 and the online edition of the same can be found here.

How will the property of a man who has died intestate and is survived by an elder brother having sons and a daughter, besides the sons of a predeceased elder sister,  be divided? Do the sons of the late sister have equal rights as those of the elder brother?

—Name withheld on request 

Continue Reading Who is the legal heir of a man dying intestate?

property rights
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 March, 2022 and the online edition of the same can be found here.

My father had booked a flat in Mumbai many years ago but died before he could get possession. A year later, the builder handed over the flat to my mother, who currently lives there. The flat is still registered in my father’s name. What are the legalities involved in transferring the flat to her name. Also, should I have to give a NOC or power of attorney (POA) to my mother? 

— Name withheld on request

Continue Reading Should you execute PoA to relinquish property rights?

HUF
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 20th February, 2022 and the online edition of the same can be found here.

My dad had invested in mutual funds in which my mother was a nominee. I have lost my parents and wish to transmit them in my name. My query is – whether these mutual funds can be transferred to ​​​a Hindu Undivided Family (HUF) that I have created to reduce tax liability?

—Name withheld on request


Continue Reading What is the right of an heir in the mutual fund holdings of a parent?

Gift deed
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 19th February, 2022 and the online edition of the same can be found here.

We are two brothers and one sister, and we follow Hinduism. In 1970, my father built a house on a plot which was in my mother’s name, although it was bought with my father’s money. My father expired in 1990. In 2012, my brother and I demolished the house and built a new house with our own money. After construction, my mother gifted the house to both of us equally. We requested our sister to take one floor, but she denied verbally as she is well off. In the future, can my sister or her children legally ask for a share in the house?


Continue Reading Can title of property transferred during parent’s lifetime be questioned later?

Ancestral 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 13th February, 2022 and the online edition of the same can be found here.

I have a query on Hindu Succession act: My mother has 6 brothers and 2 sisters, of which only 4 are alive including my mother. So Originally 9 children including my mother, Each of the brothers and sisters have children in the range of 2 to 9, I am aware that at this point my mother and the other 3 living siblings are righteous claimants on the ancestral property under Class-1.

Now my question is, – When my mother and the other siblings are no more, then how will the property be distributed?

My mother’s eldest brother has 9 children and her other siblings have an average of 2-3. So, if the total number of children all put together is 30, will it still be divided by 30 or will it be divided by 9 (i.e. my mother’s share and her 8 siblings)?

— A. Shankar

Continue Reading How will maternal grandparents property be distributed under Indian law?

Deceased Policyholder
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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 30th January, 2022 and the online edition of the same can be found here.

One of my friend’s relatives took an insurance policy with a public insurer in 2013 and she paid two payments and the third payment was not paid by the insurance agent. Later, she passed away due to health issues. She had only one daughter, who is a minor and nominee too. Can she claim her mother’s insurance, as she got to know about her mother’s insurance policy a week ago?

—Name withheld on request

Continue Reading Family member as nominee of deceased policyholder will not merely be custodian

Karta
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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 January, 2022 and the online edition of the same can be found here.

My mother is a widow. My father expired 10 years ago. We are two (major) sons and a married daughter. We brothers have created a HUF with an initial capital of 50,000 received as a gift in marriage. Can my mother create a HUF being a karta and we two sons as coparcener?

-Pinrani

Continue Reading Can my mother be the karta of the HUF?

HUF
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 January, 2022 and the online edition of the same can be found here.

My father-in-law died of covid on 6 September 2020 and my mother-in-law died on 13 December 2020. My wife is their only daughter. I need some clarity on the following:

a. My father-in-law had some HUF (Hindu Undivided Family) bank accounts and mutual funds. How do my wife or I run the accounts or withdraw the money.

b. My father-in-law has some shares and bank accounts in which his brother or sister-in-law are the nominees. How do I claim those from them?

– Kapil R. Tulsan

Continue Reading How can I withdraw money from HUF accounts of in-laws?