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sh chatt (agm)     19 September 2010

probate of will for liquid assets

My father expired leaving behind two sons. He had made a will which is registered which mentioned land and liquid assets. Now we have taken the will for probate for land (House) only and court has passed the permission for will execution for land only (as nothing has been mentioned for liquid assets in the claim). The name transfer for the land has been completed. Now for the liquid assets we approached bank with the copy of the will. The Manager asked us to bring probate for the will. Now on approaching a lawyer, he said that we have to take probate of the will again for liquid assets and that too in civil court. I said, we have taken probate of the will while inheriting the land (house) and shown him the copy of courts advice. He said, that was case regarding the land which had been dealt with by revenue department tahasil. Now this is the case of liquid assets and will be dealt by civil court, so you have to take probate again. Is he right? Secondly, while taking probate of the will regarding liquid assets, we have to pay 10% of the claim amount as stamp duty. Is he right? What is the stamp duty in such cases in Chhattisgarh? Is there any other way to save this stamp duty amount as the amount (to be claimed) is already tax paid amount. Your advice pl.



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 8 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     19 September 2010

Your query has been resolved in expert section. Please refer to that reply.

Surrender K Singal   25 September 2010

Depending upon the total value of the Bank deposits, you may better approach the Bank Manager with all legal heirs (having no dispute) to let all of you to have release of the deposits as per some family settlement that you may execute;

V. VASUDEVAN (LEGAL COUNSEL)     28 September 2010

If all the heirs approach the Bank, bank may consider the request based on indemnity/affidavit etc., This would be the short and less expensive approach. However, the bank's waiver for probate would be based on internal limits of the asset value.

Surrender K Singal   29 September 2010

Mr. Vasudevan has rightly endorsed earlier opinion

girishankar (manager)     05 October 2010

Mr. Vasudevan has rightly endorsed earlier opinion

shyam pareek (advocate)     05 October 2010

mr.vasudevan has rightly endorsed earlier opinion

raj kumar ji (LAW STUDENT )     13 January 2011

U GO IN BANK WITH ALL THE LEGAL HIRES OF THE DEATH PERSON THAN BANK GAVE U A FORM SET FORM 49 ETC.THEN U MADE A WASIYATNAMA FROM UR TAHSIL AND PRESENT IN A BANK AUTHORITY THERE IS A MAXIMUM TIME OF DEATH CLAIM SETTLEMENT IS 15 DAYS ONLY .ANY OTHER HELP PLZ WRITE ME

raj kumar ji (LAW STUDENT )     13 January 2011

U GO IN BANK WITH ALL THE LEGAL HIRES OF THE DEATH PERSON THAN BANK GAVE U A FORM SET FORM 49 ETC.THEN U MADE A WASIYATNAMA FROM UR TAHSIL AND PRESENT IN A BANK AUTHORITY THERE IS A MAXIMUM TIME OF DEATH CLAIM SETTLEMENT IS 15 DAYS ONLY .ANY OTHER HELP PLZ WRITE ME


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