Query on inherited property
DEVANATHAN C R
(Querist) 22 May 2013
This query is : Resolved
My sister in law's mother passed away in april 2013 in chennai.she had two sisters and one brother as her children. her husbank died about three years back.
mother had a property (agricultural land) held along with her sister as ansesteral property in tamilnadu.
about 20 years back, she had told her brother in law to sell the property and give her Rs 3000 needed by her for her dauthter's marriage.thus her sister came with her husband and gave the money and told her that property has been sold though no signature has been taken.
now mother's sister is asking them to give a POA in the name of son(my sister in law's brother)to enable them to sell the property. though my sister in law is willing to sign since she does not want any property or money from the land, following are her doubts:
1. Can there be any problem if she signs the document.?
2. Will she have any tax liability after signature.?
3. By signing the POA can there be any legal problem to my sister in law?
Rajendra K Goyal
(Expert) 26 May 2013
If your sister in law wants to sign, as she does not want to have her share due to amount already received, she can sign and there will be no problem. In absence of all the facts and amount of sale consideration the tax liability can not be ascertained.
