Probate on will --> Court Fee
AwMeAbN
(Querist) 23 June 2010
This query is : Resolved
Hi,
I need to apply for a probate on my Father's will. The probate is only required for the stocks/shares thats he owned (the market value is nearly Rs 25 lakhs) as there is no nomination for the same.
I need to know the following :
1. What is the prescribed court fee and on what basis is it calculated ?
2. Does the probate only validate the will or does it also specify for what purpose the probate may be used ?
3. What is the best way to keep the charges incurred on the probate at a minimum and still be able to use it for the purpose of transmission of shares ?
Thanks a lot for your help in advance
Regards,
Deep
Adv Archana Deshmukh
(Expert) 23 June 2010
The court fee is calculated on the basis of amount or value of property in respect of which the probate is to be granted. When the value is more than Rs.300000/- then the court fee is 7 1/2 percent of the amount subject to the maximum of Rs.75000/-.
AwMeAbN
(Querist) 25 June 2010
Thanks Archana,
Does the probate granted by court specify for what purpose the probate may be used or Is the will only certified and the probate can be used for any property (movable or immoveable)
- My concern is that once we file for and get the probate on the will and if later on we find about some other property or investment, then would we need to file for probate again.
Thanks
Deep
