cpc

family settlement


Dear friends,

Request your inputs on the following matter;

My father passed away this year, there was no 'Will" executed by him. The legal heirs are Mother, 2 sisters (married) and me. There are several properties that my father owned, also there are various liabilities that exist (excise, income tax etc). We do not have the full knowledge of all the assets and liabilities. However, there is one main property (Land) that we are aware of.

The family members understands that the liabilities are restricted to the extent assets received by us. My sisters do not want to be concerned with the assets and liabilities of my father.

Query:

1) Is there a way by which we can declare that we have no knowledge of my father assets and liabilities, so that we can stop future legal proceedings against us to prove we have not received any benefit from my father. We are ready to surrender whatever benefit, if any, that may come to us. To simply put it, how can we wash our hands of my father assets and liabilities.

2) For the purpose of selling the land, the family (mother and sisters) want to relinquish all the assets and liabilities to me, so that I can deal with the asset and liability, singly, without troubling them for signatures recurringly. 

3) What is the procedure for registering a reliquishment deed. Can we get it registered in any city in India (each family member is in diff state). Will such a deed be vaild across india. What are the charges for registration in state of Maharashtra.

Your inputs to the above will be most valuable to me. Thank you.  

can transfer all the rights to

For the purpose of selling the land,

 
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pls ignore last 2 lines of the msg.

 
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Advocate

The past liabilities of your father in the nature of secured loan can only bind the legal heirs by way of creating charge in the property but in no way the legal heirs are personally liable. So there is no need to be panic.The ignorance of your father's property is no solution.

The deed of relinquishment can be registered and for its stamp duty refer Maharashtra Registration Act.

 
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