letter of administration

Querist : Anonymous (Querist) 07 April 2011 This query is : Resolved

Dear Sir
My mother had acquired two row houses of her brothers asset and lettervof administration is been issued thru madras high court . now the problem is that she is very old nearing 80 and she wants to nominate me as her only son for the assets to be distributed since if she sells it now it can capture hightax capital gain but when we enquire our lawyer what he says is that with the letter of administration what she got she cannot nominate her children but she can sell it off by with holding for more that three years for gaining low tax capital gain. Sir pl advice in this regard since i am totally confused
regards

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Devajyoti Barman (Expert) 07 April 2011
I could not understand what your lawyer is saying.
If the Will bequeath the properties to the beneficiary in absolute term then after obtaining the Letters of Administration , she faces no hindrance whatsoever to enjoy and or dispose of the properties in any manner she wishes.

Kirti Kar Tripathi (Expert) 07 April 2011
I also agree with Arun. there should not be any problem in nominating you as she is absolute owner-and has a right to do so under the law.

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