Roland Noronha
20 May 2015 at 10:31
My wife and myself are resident of Maharashtra. We have 3 Sons . My wife and myself have flats one in each name in the same building. All the FDs and SB Accts. and Mutual Funds are in our Joint names.
Need following clarifications:
a) We want to make separate wills.
b) Both moveable and immoveable are the self acquired properties.
c) Husband's Will - Wife is the sole beneficiary and also the Executor.
d) Wife's Will -Husband is the sole beneficiary and also the Executor.
e) If wife predeceases me or in case Wife and I are die together then our three sons will be Equal beneficiaries and Executors. Same applies in Wife's Will also.
Please advise whether above in order. I mean can the beneficiary be the executor?
Can the three sons be the equal beneficiary and executors of the will in our absence from this world.
Rgds
Roland
rko
20 May 2015 at 10:05
If I sell a property (ownership more than 5 years), in which I am the sole owner, and simultaneously use the proceeds to buy a property of double the value jointly with a relative (both of us having 50% ownership in sale deed), then does it qualify in my case for exemption of Capital gains tax on sale of property ?
Rakesh Kaushik
20 May 2015 at 10:02
Dear Expert,
we are setteled in Haryana.and my native place from Alwar (Rajasthan) and we have some family agriculture land in alwar.
Our some family member not ready to give me my agriculture land.
They give all agriculture land to other person for use and take money for him.
Kindly Suggest What type remedies i get from court or legal way.
Yours
Rakesh Kaushik
9992185062
CA. NITIN KUMAR
20 May 2015 at 09:33
Hi Everyone and Thanks in advance,
Since long we were living in tenanted propertyin OLD DELHI consisting Ground Floor and First Floor. The Ground Floor was occupied by another tenant and used as a Godown. Whereas Occupation of 1st Floor and Terrace was with us. Recently only i.e., on 30th April 2015, we Purchased the whole property and got it registered in our name. The Ground Floor tenant was paying a rent of 200 Rs P.M. to erstwhile landlord.
Eventually we want to evict that tenant on the Ground of Banafide Need. However, we found that new owner can not evict the old tenant for 5 years.
In the given scenario what should be our ideal strategy so that we could evict that tenant as early as possible.
Secondly, we also want to know that how much amount of Rent we can ask him (GF Tenant) to pay? or Should we go for the fixation of Standard Rent as we purchased that property on Market Price?
Further, till date we have not given any formal letter intimating of change in ownership to that tenant though verbally it is been told to him.
Kindly suggest suitable course of action to claim the highest Rent and eventually eviction to that tenant.
vikram
20 May 2015 at 08:43
Dear Experts,
I would like to have some advice or face to face consultation for HUF related issues.
My scenario is as follows:
We have an property inherited from my grand father and which was inherited by my father and his brothers. My father died last year without any will so we have to register my and my mothers name on the 7/12 extract. Based on advice from CA to avail tax benefits I have formed an HUF with I as karta of HUF . Is it possible to put my HUF name on 7/12 document and my mother to gift her share to HUF willingly ? If so could you please provide procedure to that. Thank you very much in advance.
Varad Thaker
20 May 2015 at 00:13
Hii
I have applied for education loan so bank asks for NOC from society.
Scenario of the society is that almost all the members of the society are against the secretory and to remove him all the members have signed the letter against him and treasurer & chairman have resigned and all this things have been reported to the registrar.Case is still going on and decision is going to be in members favour but it will take time since summer vacation process will start after 15 days and election can be happen on 30/06/15.
So now he is the only authorized to sign the NOC and he is not agree to sign the same.
Now what should i do because i need the NOC within week.before i have given him print out of NOC he was agree that he will sign but he has refused at last moment.
What is the solution for this.Kindly guide.
Thanks in advance.
Thanks & regards,
Varad Thaker
venkat
19 May 2015 at 18:34
My father now deceased,was owner of a flat in a regd. Co.Op Soc. In his will he had willed his property to two (out of five) of his children and a grandson and has not given any share to two of his children. The executor of the will is also one of the children who has been willed a share of the property. The executor has approached the society for transfer of the flat to his name. The society's lawyer has asked the transferee to provide the approval/NOC of the legal heirs who have been willed/not willed any share in the will for effecting the transfer.Please clarify whether the society lawyer's demand is correct and is the NOC mandatory for effecting the transfer. Thanks
venkat
mathewjoseph
19 May 2015 at 17:27
Dear Sir/Madam,
Presently i am staying in a house owned by my Grand father, who expired 24 years ago and my father expired 7 years ago. my father has a brother two sisters who are alive.
I would like to know that whether I can get this property through easement Act or Not.
I also would like to know the procedure for getting ownership of this property.
flowwercent
19 May 2015 at 17:15
Rajan's father had given a piece of land to him as family share. Rajan had given the same wholly to one of his son only out of 6 children.
Please tell me whether remain the 5 children would have any right on their father's property? Can the children demand their portion from their father as it was transferred from grand father?
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Undisclosed encimberances on property and online statement not revealing encumberances
Hi Team ,
I had entered into a sales agreement based on prima facie clean documents submitted by the seller with all the necessary documents evidencing non existence of encumberances.Basedon these documents 20% of the property has been self paid by myself , however it wass discoverd at a latter stage while LIC ( Lender for me) was clearing the legal process refused to accept the online copy related to 2 months period of November and December 2014.Upon request when we raised fresh EC in person -in registrar office it was discovered that there is a registered agreement in subsistence with the seller having collected an equivalent money from another third party ( though the online version still shows free from encumberances).
The existence of encumberance and a liability being incurred by seller on the property was never disclosed to us :
Is there any recourse available against the seller for deliberately concealing the facts related with sale ?
The party has promised to clear the EC entry by clearing the liability and evidencing the cancellation of EC . I have given him sufficient time to the seller but the seller is claiming financial difficulty in clearing liability and clearing the EC , hence I entered into a supplementary agreement with the seller agreeing to clear all such encumberances by end of may and the seller to refund by way of Post dated Cheque for return of 20% amount paid by me as token money .
Will there be additional legal recourse availablke to me in case the seller is unable to pay back money and dishonours the PDC due to insufficiency of funds ?