RM (others) 19 January 2010

Property Purchase Query

An urgent Opinion is required ..

A person having a self – occupied commercial property in a regd co-op hsg society and was running a business from said property with all permits & licenses..

He dies without WILL . Wife and Minor Son have obtained Heirship Certificate from the Court of Civil Judge… wherein it is mentioned that , “ They have been recognized as heir of the deceased in respect of the commercial properties ”

Lady wants to sell the commercial property alongwith business rights ie. permits + licenses to me and my friend ..

My Queries are :-

1. Heirship Certificate issued mentions only about

commercial property and nothing about deceased’s

business permits + licenses.

Does this mean that wife & minor son can get

permits + licenses transferred to their name

( Without Will ) on basis of this heirship certificate ?? Can’t there be any claim from someone regarding business and does this heirship certificate should also mention about this business ??

2. As wife & minor son both are recognized as legal

heir of property , they jointly held this property

Is consent of minor required to sell the property ?

If so can we ask the lady to produce Court Orders OR Court permission for sale of minor's property ??

As minor can’t sign agreement for sale then who would sign on his behalf ??

3. Can we ask for Society N.O.C. ( as commercial

property situated in a co-op hsg society ) before

Signing Agreement for Sale… ??

Share certificate mentions property transferred to

lady’s name ( no mention of minor son ).

4. Can we Enter into a Single Agreement for Sale for

both property & business permits and licenses and

pay stampduty .. or separate agreements for both

As we will pay individually and then later on

transfer it to Partnership business .

Reply Follow

5 Replies

(Guest)

You have rightly asked about heirship regarding his business and permits, for your qury first we have to see the heirship proceeding, what is their prayer in application, whether there was any objection for heirship. Secondly you are right on point of selling minor's share in property, the lady have to take permission of district court for sale.

1 Like

RM (others) 19 January 2010

thank u ....

Heirship certificate mentions " application made to civil court by applicant to be formally recognized as Heir of the deceased ..... and whereas usual proclamation having been issued , no sufficient objection was offered to the right of the said applicants .... and applicants gave proof...to the satisfaction of court of their right .....this is to certify that the applicants are recognized as heir of the deceased in respect of the following property :- "

Nothing mentioned about business....so what proof regarding business rights transfer to the lady and son can be obtained before taking over business as it could be subject to litigation ?

V. VASUDEVAN (LEGAL COUNSEL) 19 January 2010

As rightly pointed out by Adv.Kulkarni, for selling the minior's portion (undivided property rights) the mother has to take the court's permission. Usually the court directs for deposit of the minior's portion of the sale proceeds in a fixed deposit till the minor attains majority. regarding business permits if they are in the indivudal name of the deceased, they cannot be transferred. however provide precise details on the nature of business permits. The society also ought to have recorded the minor's interest in the certificate. NOC is required before completion of the sale.

vasudevan

RM (others) 20 January 2010

Pallavi Madam & Vasusevan Sir thank u very much for ur valuable opinions.....

OK.... so court orders for minor and Noc from society are required ...

Sir , regarding business ....deceased was proprietor..... operating Hotel - Restaurant & Bar...with permit...with all licenses in his individual name ( proprietory firm name )... business stopped since last 3 - 4 yrs.... he died with no will ....

Licenses & permit need to be transferred to deceased wife and minor son ... before we take over the business ??

Will they again have to apply to court --- to transfer business permits & licenses in their name or the Heirship certificate issued by court ( stated in above reply ) is sufficient ?

thank u ..

V. VASUDEVAN (LEGAL COUNSEL) 20 January 2010

the business licenses referred by you are statutory licenses issued in the name of the deceased as proprietor. Hence they cannot be transferred like properties. If you want to carry on this business you need to apply individually for the relevant licenses.

vasudevan