Transfering Asset after death
Immovable property transfers, such as ones regarding flats, apartments, and land, are extremely complicated and include a significant quantity of documentation as well as legal and tax ramifications. The Hindu Succession Act of 1956 and the Indian Succession Act of 1925 both influence the law governing property inheritance.
Types of Property
1.Ancestral property – In this property is inherited by the ancestors. For a property to be ancestral, it should be inherited by four generations. Every legal heir has the right to claim the ancestral property. After the amendment of 2005, even the married daughters have equal share in ancestral property.
2.Self-acquired property – When a person obtains a property on his own and not inherited by ancestors, then that property is known as self-acquired property.
Succession of Property In Accordance to the Personnel laws
According to the Hindu law (In case of Male)
Section 8 to 13 lays down the rules for succession after the death of Hindu male who dies intestate.
The heirs of the Hindu male are divided into four categories.
Class 1 –Sons, daughters, widow, mother, son of a pre-deceased son, daughter of a pre-deceased son, son of a pre-deceased daughter, daughter of a pre-deceased daughter, widow of a pre-deceased son, son of a pre-deceased son of a pre-deceased son, daughter of a pre-deceased son of a pre-deceased son, widow of a pre-deceased son of a pre-deceased son, son of a predeceased daughter of a predeceased daughter, daughter of a deceased daughter of a predeceased daughter, daughter of a predeceased son of a predeceased daughter, daughter of a predeceased daughter of predeceased son.
Class 2 – Father, son’s daughter’s son, son’s daughter’s daughter, brother, sister, daughter’s son’s son, daughter’s son’s daughter, daughter’s daughter’s son, daughter’s daughter’s daughter, brother’s son, sister’s son, brother’s daughter, sister’s daughter, father’s father, father’s mother, father’s widow, brother’s widow, father’s brother, father’s sister, mother’s father, mother’s mother, mother’s brother, mother’s sister.
Class 3 are agnates and Class 4 are cognates.
In case of Hindu Female
According to how the assets were acquired, the Hindu Succession Act offers three groups of lawful heirs to a Hindu female who passes away intestate. The three heads principle is used to determine the lawful heirs.
1.Property inherited by a female from her father and mother;
2.Property inherited by a female from her husband or her father-in-law; or
3.Property obtained by her from any other source, by inheritance or otherwise.
As per Section 15(1) of Hindu Succession Act, if property is acquired from other sources, then the legal heirs shall be as follows.
Son, daughter, husband, son, and daughter of a predeceased son and son and daughter of a predeceased daughter. Heirs of husband. Father and mother. Heirs of father. Heirs of mother.
Property inherited from father and mother:
Sons, daughters, sons, and daughters of a predeceased son and sons and daughters of a predeceased daughter. Heirs of father.
Property inherited from husband or father-in-law:
Sons, daughters, sons, and daughters of predeceased sons, and sons and daughters of predeceased daughters. Heirs of the husband.
Transfer Of Property Under Muslim Law
The Muslim Personal Law (Shariat) Application Act, 1937 is used when a Muslim passes away intestate. Muslim intestate beneficiaries include: spouses, children, grandchildren, parents, grandparents, paternal and maternal grandparents, full brothers and sisters, paternal and maternal brothers and sisters, full nephews and paternal nephews, as well as husbands, wives, children and grand-children.
Transfer Of Property Under Christian Law
The Indian Succession Act, 1925 governs Christian rules of succession. Widow, daughter, son, mother, father, sister, brother, direct blood line, such as between a son and his father, grandfather and great-grandfather, and so on in the direct increasing blood line; or between a son and his son, grandson, great-grandson, and so on in the direct minimising blood line, are Christian’s legal heirs in the event of his passing away intestate..
Transfer Of Property Under Parsi Law
The Indian Succession Act, 1925 governs Parsi succession rules. Legal heirs of a Parsi who passes away intestacy include both parents, both siblings, both brothers and sisters, both maternal and paternal grandparents, their children, and their lineal descendants, as well as maternal and paternal grandparents’ parents, children, and grandchildren.
TRANSFER OF PROPERTY IN GENERAL
Transferring the Property which is jointly Owned
One must determine if the property is jointly owned or not in order to prove their stake in the interstate. In most cases, the estate is co-owned and has a provision for the right of survivorship in the marital residence. If either spouse passes away, the ownership right is immediately passed to the remaining spouse. A official copy of the death certificate must be obtained from the hospital, mortuary, or relevant authorities after the spouse’s passing. For the reason of affirming one’s interest in the property following the death of a spouse, one must now attend the office of the registrar of deeds with the certified copy of the death certificate and the current ownership deeds and file both together. If the owner has given the trust his property, the trustee will no longer be subject to the prorata provision.
Where the deceased has executed the testament or joint will
If the property is not owned jointly and one of the spouse has written his or her last will and testament prior to passing away, the property will be handled and divided in accordance with the terms of the will. The will is executed according to the property acquired by the individual according to the individual in accordance with the purchaser deed, but it cannot be produced as the coparcener in the case of ancestral Hindu property because heirs for a maximum of four generations have contingent property rights over the ancestral property, which are regulated by the Hindu Succession Act. Before attempting to carry out the will, the beneficiary or nominee must receive the portable letter of the administrator from the appropriate court if ownership rights are gained through the probate procedure.
If there is only one heir, the individual (heir) must go before the court with certified copies of the testator’s death certificate, their will, and the property’s title deed in order to prove their claim to the inheritance. When there are many legal heirs, the probate procedure is carried out in front of an appropriate court, and the property is administered in accordance with the will. Once the beneficiaries’ rights have been determined, they must go to the sub-registrar office with the will and ownership documentation to have it transferred into their names.
Estate with no last wil executed or no testament
The legal heir or coparcener (herein referred to as nominee) must get a no-obligation certificate from the other heirs or successors along with the affidavit because in the absence of a will, the estate will be divided in accordance with the Succession Act. Any financial benefits that are to be given to the successor or other heirs must be specified in the transfer instrument. The person estate is divided equally between the parties under the terms of the partition document in the event that there are equal coparceners or heirs. The lineage list and the division document must be delivered to the Sub-registrar’s office. After all of the documents have been verified, the registration of the land documents is transferred in the name of the legal heirs. The property will now be modified as the following step. It refers to the change in the land’s title as recorded in the state’s land and revenue records. The nominee receives the register following the verification.
Inheritance Rights Of Children In India
The boy has a birthright to his father’s and grandfather’s property under the Indian Succession Act. The son shares the same rights in the inherited property of his grandpa as his father does. When a parent dies intestate with self-acquired property, the son of Class 1 legal heir is entitled to the same share of the estate as his mother and sister. However, the illegitimate son does not have right in his father’s property. The child in mother’s womb gets the right in his father’s property even if his father died intestate.
Inheritance Rights Of Daughters In India
Before 2005, For the daughters in their father’s estate, there were no laws. Only daughters who were still single had a claim to their father’s ancestral wealth. After a case’s revision in 2005, a daughter was given the same rights and obligations about her father’s ancestral property as the son was given regarding his father’s part of the property. The daughter will get an equal part of the father’s property along with the other sharers if the husband has self-acquired or independent property and expires intestate.
Inheritence Rights Of Grandchildren In India
If the land is family-owned, then each grandson and granddaughter will have an equal claim to it as their father did. If the grandpa owns it outright or separately, the grandson will only be entitled to it once his father passes away..
Inheritance Rights Of Adopted Child In India
Inheritance rights of the adopted child are same as the natural born child in India.
Inheritance law of other countries :A comparative analysis
The terminology used in inheritance laws in western and European nations like the USA, Germany, and France is gender neutral. While in India, terminology like sons, daughters, parents, children, and spouses are used. By using such language, it is implied that everyone, regardless of gender, is entitled to inherit the property. If this practise is adopted in India, gender-neutral inheritance laws would be enacted there.
Conclusion
After the person’s passing, the legal heirs should really check to see whether there are any liabilities in addition to their estate’s assets. Receiving an inheritance includes both assets and responsibilities. The executors must make sure
that the deceased’s assets and property are free from debt. If so, they must also settle all responsibilities and debts. The property will be transferred into the legal heirs’ names once the court determines who the dead person’s legal heirs are. Not only should the legal heirs inherit the property, but they should also have it modified.