Inheritance
RT
(Querist) 30 December 2012
This query is : Resolved
My grandmother passed away 2 years back. She had two properties (houses) in her name and she has 4 children - 2 sons and 2 daughters. There was a verbal agreement that sons would share property A and daughters would share property B. My grandmother did not leave a written will. Here are a few questions about the scenario:
1. What is the process involved in dividing each property into two parcels (pieces) and transferring it to respective owners?
2. Do the owners have to pay any kind of taxes when the property is registered in their names?
3. Do grandchildren have to sign paperwork to transfer properties? (All the 4 siblings inheriting the properties are alive.)
4. Can property A be divided among brothers and property B be left untouched? If so, do daughters have to sign off on property A?
ajay sethi
(Expert) 30 December 2012
since grand mother has died intestate ie without leaving her will her property would be inherited by her 4 children . i preusme it is grand mother self acquired property . obatin legal heir certifcate
duaghters can execute deed of relinquishment in favour of the sons for property A . similarly sons can execute deed of relinquishment for transfer of property B in favour of daughters .
deed of relinquishment has to be stamped and regd .
grand children have no right in grnadmother self acquired property .
prabhakar singh
(Expert) 30 December 2012
Its' a repeat.I have replied in detail to your earlier very same query.
As per law what every a Hindu woman either acquires on her own or inherits by succession,the same legally becomes her own self acquired property .
prabhakar singh
(Expert) 30 December 2012
GIVEN BELOW IS THE MY REPLY TO YOUR SAME QUERY:
As the grand mother died intestate(with out will deed),the personal law shall come into operation automatically,and if it is hindu case,her husband(if alive) and two sons and two daughters would inherit in equal share but jointly all properties left by her.
Now the partition can be oral also by mutual consent and after giving effect to such oral partition a MEMORANDUM DEED OF PARTITION CAN BE PREPARED AND GOT NOTARIZED AS NO STAMP DUTY WOULD BE PAYABLE ON A DEED WHICH SIMPLY RECORDS THE EVIDENCE OF AN ORAL PARTITION ALREADY ACTED UPON .
OTHERWISE IF PARTITION IS PROPOSED BY ANY DEED IN WRITING IT COULD BE DONE ONLY AFTER PAYING PROPER PRESCRIBED STAMP DUTY AND GETTING THE PARTITION DEED REGISTERED.
THIS WAS ALL ABOUT Q.1
Q2. SURELY.
Q3.NO LEGAL REQUIREMENT AS THE PROPERTY BELONGING TO A WOMAN IS LEGALLY TREATED HER ABSOLUTE.
Q4.LEGALLY ALL PARTIES ARE REQUIRED TO PARTICIPATE IN PARTITION.
DOING ANY THING AS THOUGHT OF WOULD BE ILLEGAL AND ADVENTUROUS .
RT
(Querist) 30 December 2012
Dear Sir(s),
Thanks for quick responses. One last question:
Stamp paper duty - Is the amount same as party A selling to party B in open market, or is it less for heirs acquiring the property through inheritance?
Thanks again.
RT
(Querist) 31 December 2012
Dear Sir,
I still have one open question.
Stamp paper duty - Is the amount same as party A selling to party B in open market, or is it less for heirs acquiring the property through inheritance?
Thanks again.
ajay sethi
(Expert) 31 December 2012
if deed of relinquishment executed stamp duty is nominal . gift deed attracts 2%stamp duty . for sale of property stampp duty is more
Raj Kumar Makkad
(Expert) 01 January 2013
There is no stamp duty if the successors are acquiring the property through inheritance whereas the stamps on sale deed are required to be affixed as per State Act.
