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Rajesh D (Manager)     06 August 2022

Residential house bequeathed through will

My father had bequeathed his residential house in Navi Mumbai, Maharashtra to me through a registered will made in 2013. I have a younger sister (married). My father recently sold the house and has kept the sale proceeds in a savings account jointly held by him and me. My father has given me the entire sale proceeds after taxation since he had originally bequeathed the house to me through his will. Since my father has sold the house while he's alive (and since nature of property has changed from immovable to movable) is there any need for further legal documentation e.g. codicil, gift deed etc.? 



Quick Summary
A father bequeathed his residential house to his son via a registered will. He has since sold the property and kept the sale proceeds in a joint savings account with his son. The son is seeking advice on whether further legal documentation, such as a codicil or gift deed, is required now that the property has been sold and its nature has changed from immovable to movable. The advice given is that the father can create a new will revoking all former wills to avoid disputes, but no further documentation is strictly necessary for the sale proceeds themselves.

 2 Replies

Swadha   09 August 2022

no need for any legal documentation.

Anusha Sharma   09 August 2022

Under the Indian law, you can bequeath movable and immovable property which you may possess including your self acquired property, inherited property, joint family or HUF property, etc. In your case Rajesh your father can simply create another will with a clause to evoke all former  Wills and Codicils. To avoid disputes or discrepancies, all Wills made after an existing Will have a clause revoking former Wills and codicils.

 

Thank you, I hope this helps. 


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