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Mousumi Sen (Owner)     19 April 2015

Selling trust property

A Settlor has transferred his immovable properties by Will to a testamentary Trust upon his death and he has further allowed his appointed Trustee to sell off his assets when certain conditions are reached.

 

Then if such conditions have been reached before probate of this Will, then can this Trustee dispose of the aforesaid assets without going into the hassles of probating the Will. To be noted here is that the Trustee is also the sole beneficiary of the Trust and he has also "accepted" the Will/Trust conditions.

 

Or, is the probate mandatory before disposing of the Trust properties???



Learning

 3 Replies

K. GOPALAKRISHNAN (ADVOCATE)     20 April 2015

Dear Sen,

 

The probation of the Will is depends upon the location of the property.   If the property is located within the area of metropolitan city, then the probation of the Will is mandatory before disposing off the property.

Mousumi Sen (Owner)     20 April 2015

Thank you sir for your reply. 

Property is located in Kolkata. Are you referring to any Section of the Indian Succession Act? Please elaborate.

Also Will is unregistered and Trustee is also Executor by implication. as he has "accepted" the Will conditions by signing on the Will itself.

Thanks again.

S K KARNjhc (Legal Adviser)     13 May 2015

There are some technical question here which each and every point can not be explained, kindly consult your local lawyer there.


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