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sumalkutti (Accountant)     26 October 2011

Inheritance of property

Dear friend

I need your guidance on the inheritance issue. My friend is one among four daughters of a business man, He  has some pvt limited companies and partnership firms devloped by him . Her father has written a will after her wife's death but didnot sign it. He was in the process of concluding, signing and registering it unfortunatley he too pass away soon. His lawyers and auditors are helping the family to conclude the partition having his will as a base. 

His D1 (First Daughter) and son inlaw joined his business 6 yrs back and still working other 3 are living outside. Immediately after his death in 15 days time all were in ahurry D4 wedding was coming  his lawyers and auditors partitioned the properties and then all the 4 daughters not knowing the details signed an MOU for excuting a legal partion. Later D2 and D3 realised the D1 was getting more though the experts say it was according to his dad's will as she has some liabilites to pay , other 2 realiese said that they can go equal. Now for settling to equal both D2 and D3 asked for rental property which was alloted for D1 . D1 and his husband mainly is not agreeing to it and says it will affect the working of the PVT company as it works on it. Now please clarify on the following

1. Can this issue be soughted equally. IS the MOU valid 

2. D1 gets the parent company major share which is high valued and she works and enjoys all remuneration. Will this rental property affect the company working if given to other 2

3. If the rental property  given how can the interest of the company and individual be protected with regard to rent and other legal issues.

Please clarify how the law works

 

 

 



Learning

 1 Replies

adv. rajeev ( rajoo ) (practicing advocate)     26 October 2011

after the death of the father the successors are entittle for the equal share in the properties of the father.


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