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revati (engineer)     01 March 2011

Claim in gold safe

Hi ,

My father expired 3 years back and we are 3 members in family now.Me ,My elder sister and my mother.

We have a gold locker in which there is no Nominee and no will.The bank people are asking us to take the sign of my father's mother also ,if we want that locker to get oppened.

I want to know that is there any law that the property in gold locker will distributed such that one part will go to

my father's mother also.My father's mother has 4 sons .All of them are earning.If there is any link which tells us that father's mother has right on the property then please provide me that.

Thanks,

Revati



Learning

 2 Replies

Tajobsindia (Senior Partner )     03 March 2011

@ Author

1.
In my opinion under the Hindu law, any coparcener can make a claim for partition. That is the reason the Bankers have asked for bringing signature of mother of deceased to play safe on the longer run since it is matter of some gold in a locker belonging to deceased person !


2.
Under Hindu Law once the status of Hindu Family is put to an end, there is notional division of properties among the members and the joint ownership of property comes to an end. Here the deceased is survived by his mother as well as by you and by your 4 uncles (who no doubt are earning well which is besides the point when partition comes into play)


3. Further in my view for an effective partition, it is not necessary to divide the properties in inches and centimeters. But under following as uptight citizen of the nation’s taxing laws for an effective partition division of these gold in the locker by inches and centimeters is necessary. Here we are taking of gold which carries certain depreciation and valuation as in income attached to it under Taxing laws of the land read with Hindu Succession Act least a member of the deceased extended family objects to opening of locker and subsequent removal of items from it without partitioning the substance therein is what I actually I feel shall happen.


4. I think I may suggest to go in for partition of the gold kept in the locker and mind it a partition under Hindu Law, can be total or partial. In total partition all the members cease to be members of the HUF and all the properties cease to be properties belonging to the said HUF.


5.

 

 

Avnish Kaur (Consultant)     03 March 2011

keep paying the locker rental and wait for her demise to heavenle abode.


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