inheritance of property
shanmuga sundaram
(Querist) 09 October 2009
This query is : Resolved
sir,i own a small piece of 41/2 cents
of land in which, from my own earning constructed a shopping complex,which gives a rental income of about rs 20000.The property is self earned by my grandfather.
He has given to my father through a
"WILL document".And my father died intestate.There were 8 legal heirs ,including me.Me& my elder brother called in all the legal heirs & explained to them that the property will be fragmented if a partion is made.Instead we proposed to buy the property from each legal heir at the prevailing market price.
That has been agreed upon by all the legal hairs,& the total value was assessed.
Each heir was given cash to their share.
And a release deed was obtained & the document has been registered also.
Now i would like to know,Is that property is to be taken as my own self earned,
can any of my heirs claim as an ancestral property. On the basis, that my share of the property has ancestry & they have share in it.The property is about 100 years old & now become a prime location in that town.Please enlighten me.thanks.
A V Vishal
(Expert) 09 October 2009
Once the payment is made by you and the release deed have been secured by you, it is your self acquired property and no one can claim against you stating it is ansectral property except if they complain of any kind of fraud or coercion in securing the release deed which must be eventually proved by the other party.
Sachin Bhatia
(Expert) 09 October 2009
Same opinion with Mr. Vishal
Arul Kumar
(Expert) 09 October 2009
Since you have given consideration for the sahres of other members and a relase deed has been obtained, the property will be treated as acquired by you. So not to worry.
KUMAR JAGADEESAN
(Expert) 09 October 2009
Dear Mr.shanmugasundaram
What do you mean by legal heirs when first you had obtained the release deed. Did it include all the members of the HUF at that time inlcuding your and your siblings' spouses,sons and daughters. If so the opinions of my learned friends would hold. If not then the possibility existis for claim by other members of HUF.
I request my learned friends to consider whether my points are relevant
J.KUMAR
Hyderabad
J.KUMAR
Hyderabad
A.P.Manoranjan
(Expert) 10 October 2009
I fully agree with Mr.J.Kumar.At the time of purchase of property of co-parceners in HUF,signatures of all the benefitiaries must be obtained or a power of attorney of the beneficiaries.
