Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Scorpio (Finanace Director)     09 August 2014

Sale of inheritence

My mother recently passed away leaving matrimonial property with out a will.I would like to get some guidelines around the steps that I need to follow to sale the property.The property is now registered in the name of my mother.We are 3 brothers and sisters.We have a buyer who have shown interest.

Q1.Do we have to get a succession certificate ? 

Q2.Do we have to do a mutation on the property before sale?All taxes on property are up to date..we have mutually decided for 1/3 share each.

Q3.Does name transfer to the heirs considered as a sale in case of inheritance as that might call for heavy stamp duty 

 

Many thanks.



Learning

 6 Replies

rakesh (teacher)     09 August 2014

i am living in a house which is in name of my mother, however i had spent money out of my income. i am still paying home loan installments. my mother expired in 2010. my father expired in 1988.plot alloted by awas vikas parishad u.p.in 1998. constructed in 2006.there is a plain paper will created by my mother in my favour.duly witnessed by my sisters and brothers.but unregistered due to her illness in last days.

we are 4 brothers and 2 sisters. all are married. having their childrens. we all are living cordially.there is no dispute on this property.all are ready to transfer this property in my name.

what would be the procedure of  transfer this property in my name?

is there need to sign all of my brothers & sisters as witness on will deed.?


(Guest)

Dear Scorpio,

You have not specified where the property is situated. If it is situated in Maharashtra in that event as your mother died intestate i.e. without executing will, you can go ahead with procuring a legal heir certificate for which you will have to apply before court under the provisions of Bombay Regulation. if it is situated in state other than Maharashtra you will have to apply for succession certificate u/s 372 of Hindu Succession Act and once you receive the same, you and your brother and sister can prefer application for mutation of the property in your name. In the event, you and your brother and sister wish to sell the property the sale can be disposed off jointly and severally to the prospective buyer.


(Guest)

Dear Rakesh,

As there is will which has been executed by your late mother in your favour the same is sufficient enough to get the property transferred in your name. It is not mandatory under Registration Act to have the Will registered. 

For the purpose of getting the property transferred in your name as per will, you will have to tender No objection and affidavits of your brother and sisters stating that they do not have any objection and claim in the property which you have inherited by virtue of will-deed executed by your late mother. Submit an application for mutation of the property with City Survey department and Municipal Corporation along with those affidavits and NOC and the property will get transferred and your name will be mutated in revenue records.

K.K.Ganguly (Advocate)     10 August 2014

1. Collect legal heir certificate from the Tehshilder first,

 

2. All the legal heirs including your sisters have equal right on the property,

 

3. All the legal heirs can jointly execute and register the sale deed in favour of the buyer who will mutate the property in his name in due course,

 

4. Mutation does not attract payment of stamp duty like registration of sale deed.. 

T. Kalaiselvan, Advocate (Advocate)     13 August 2014

@ Scorpia:The property left behind intestate by your mother  will devolve equally upon all  her legal heirs, it means your sisters too. Since you people have decided to dispose the property by selling it off,  there is nothing that you have to about mutating the property, let the purchaser do it.

T. Kalaiselvan, Advocate (Advocate)     13 August 2014

@Rakesh:If your mother bequeathed the property in your favor by executing a Will duly signed by two witnesses, the same is valid, you may act upon it by transferring all the records on your name.  In future kindly use a different thread to post your queries.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading