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Samkit Maniar  |174 Answers  |Ask -

Tax Expert - Answered on May 26, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Manoj Question by Manoj on May 16, 2024Hindi
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My father write will on plain paper in front of two relatives that my own house after my death it's devide in my two sons. My question is- 1. Is it valid will. 2. if one son not agree on the will and that son capture the whole house In this situation what happen how i get my part. i want to avoid any police or legal action. 3. Division is not possible in house as per design. Only one option available that one person give the half amount to other. 4. Is it possible to court sale the house and devide the amount in both son.

Ans: Will is valid even on a plain paper but needs to be executed by 2 witnesses. Further, it depends on the executor to appropriately divide the assets between both (ie you and your brother). If the house cannot be divided then it can be sold and proceeds can be divided equally. You can go to court but then sale will take its own time its better you resolve this issue within the family.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - Jun 13, 2024Hindi
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Hi. Can my mother of two sons get her will registered for a residential property with half share each for both her Sons. Now the property was registered in mother's name in year 2000 for 15 lacs. A loan was taken by the younger son for 12 lacs to finance the property. This loan was in due course paid off. Now mother in present situation is aged and wants to will her property equally to both her sons. Can she go ahead with registered will. Also what other documentation needs to be done so that there is no dispute in future among brothers.
Ans: Yes, your mother can get her will registered for the residential property, allocating half share to each of her sons. This process involves several steps to ensure that the will is legally valid and that there are no disputes in the future.

Steps to Register the Will
Drafting the Will: The will should clearly state her intention to divide the property equally between both sons. It should include specific details about the property, such as its location, registration details, and any other pertinent information.

Appointment of Executors: Your mother should appoint one or more executors in her will. Executors are responsible for carrying out the terms of the will. It is advisable to choose trustworthy and impartial executors.

Witnesses: The will must be signed by your mother in the presence of at least two witnesses who are not beneficiaries in the will. The witnesses must also sign the will, confirming that they saw her sign it.

Registration of the Will: Although not mandatory, registering the will with the local sub-registrar’s office is highly recommended. This provides a legal safeguard against future disputes. The process involves:

Visiting the local sub-registrar’s office.
Submitting the will along with required documents (proof of identity, proof of residence, etc.).
Paying the registration fee.
The sub-registrar will then record and register the will.
Additional Documentation and Steps to Prevent Future Disputes
To further ensure there are no disputes in the future, consider the following additional steps:

Family Settlement Agreement: If both sons agree, your mother can draft a family settlement agreement. This agreement can state that both sons have agreed to the equal division of the property and that they will respect the terms of the will. This should be signed by all parties involved and can be notarized for added legal strength.

Declaration of No Objection: Both sons can sign a No Objection Certificate (NOC) stating they have no objections to the property being divided equally as per their mother’s will. This can be attached to the will or kept as a separate

Consulting a Lawyer: It is advisable to consult with a property lawyer to ensure that all legal formalities are correctly followed. The lawyer can help draft the will, the family settlement agreement, and the NOC to ensure they are legally binding.

Updating Property Records: Once the will is registered, ensure that the property records reflect your mother’s ownership clearly. This will prevent any claims of ownership or legal complications in the future.

Informing Family Members: Make sure that all family members, especially the beneficiaries, are aware of the will and its contents. Transparency can often prevent misunderstandings and disputes.

Summary
Your mother can proceed with registering her will to divide her property equally between her two sons. The will must be drafted properly, witnessed, and ideally registered with the sub-registrar’s office. Additional steps, such as a family settlement agreement and a No Objection Certificate, can provide further assurance that there will be no disputes in the future.

By following these steps and seeking professional legal advice, your mother can ensure her wishes are respected and that her sons can receive their shares without any legal complications.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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I took home loan from HDFC of 10 years duration in May 2023. I told them that i will be able repay the loan in few months as i was planning to sell one plot of mine. Bank employee offered insurance on home loan with return of premium scheme telling me that as soon as you repay the loan all of the premium will be returned. I was old customer so i trusted her and took insurance. Later i came to know that no refund on that policy if you surrender in one year and 60 percent deduction after 02 years. My mistake that i overlooked freelook peroid and rate of return of premium in the documents. I have repaid my whole loan and woll be completing my policy tenure of 02 years in Apr 2025. What should i do to get maximum return of the premium and should i appeal to the higher authorities about the lie told by the employee or i accept the return and sit and regret my decision? Need your valuable advice
Ans: Hello;

You may register a grievance with ombudsman of the lender stating the facts of the matter clearly.

It is upto the discretion of lender's grievance management leadership to take appropriate view of this matter and decide suitably.

Because legally it will always boil down to, you have signed up for the policy after going through all the terms and conditions and also didn't reckon that anything is wrong during the free look up period so no discussion unless you manage to get a video clip of your conversation with the bank employee, which I believe is almost impossible.

Best wishes;

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