Distribution of property
shailesh
(Querist) 02 July 2012
This query is : Resolved
Hi All,
My paternal uncle died in 2004 and my aunt (uncle's wife) died in 2009 intestate. They had no children. We are children of my uncle's 4 brothers, all of them died before him. My Grand parents are also died long back. The LA is grant in favour of one of my cousin brother.
My question is:
1. Do we have need to open separate bank account for settling his estate?
2. His flat will be going for re-development and the developer has shown interest in buying the flat. Do we have to take one single cheque for consideration from developer in the name of my cousin or developer can issue separate cheques in the name of each heir?
Please advise.
Global Legist
(Expert) 02 July 2012
Hello,
If the legal heir certificate is the name of all surviving children you can ask for separate payments.
If, things are going on mutual consent, it depends upon you all.
You can take one cheque from builder and distribute it later on
or
if builder do not have any problem for issuing separate cheques, you may do so.
as far as estate is concerned, if it is in name of one person, than its legal status have to be checked. For which you have to send us the concerned papers.
If there is already an estate account then put all money there, clear all dues and later distribute it among yourself.
If, you want to known specifically about each property, please send us copy of the property papers and family chart so that we can analyse the matter.
With Regards
Global Legist
Advocates and Legal Consultants
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info@globallegist.com
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