Srinivasan (Tax Consultant) 28 October 2016
saravanan s (legal advisor) 28 October 2016
if a dies intestate then his share in the joint property will devolve equally over his class one legal heirs his mother, wife and daughter.if his wife dies intestate then the property would devolve over her husband and daughter
Kumar Doab (FIN) 28 October 2016
Agreed with Mr. Saravanan S.
It is believed that you are Hindu.
Kumar Doab (FIN) 28 October 2016
If there is a provision of Nomination in Property prefer it.
Prefer to nominate in every a/c.
Obtain legal heir certificate.
Prefer to sign WILL and register it.
Srinivasan (Tax Consultant) 29 October 2016
Thanks Mr.Saravanan.
My doubt is A and his wife is having 50-50 share in their joint property.
for example
property value is Rs.10,00,000.00 (then A share will be 5,00,000 and his wife share is 5,00,000) on death of his wife, wife share only to be shared between A and his daughter. I may correct sir.
for example A will get his own share 5,00,000
and out of his wire share 50,00,000 he will get 2,50,000 and his daughter will get Rs.2,50,000.
Finally A will get Rs.7,50,000 and his daughter will get Rs.2,50,000/- Is it correct sir.
Kumar Doab (FIN) 29 October 2016
You are right;In case wife is deceased.
SHARAD CHANDRA DANEJ (Asstt. Manager) 30 October 2016
There's a difference in devolution of property of deceased male and female.
Kumar Doab (FIN) 30 October 2016
Right: In last posts devoloution of property from Hindu Female in noted conditions is discussed.
If it is Hindu male it has been posted in 1st post of Mr. Saravanan S.
Srinivasan (Tax Consultant) 30 October 2016
Thanks for all. my doubt is clreard.