By: Amy Jones
Inheritance of a property is not the end of the matter. The price of real estate is huge now, thus the heirs should secure the property to avoid the intervention of the property dispute lawyers. This should be done as a priority task after the owner of the registered property dies. To be the owner of the property, legal formalities are a must. According to the type of property, the quantity of heirs and the rights, the legal procedures are different. Sometimes, due to certain unfortunate reasons, there might be a dispute surrounding the property. To avoid every kind of dispute, we can think of the following:
In order to guarantee that the property which
is inherited, cannot be claimed by others, we have to transfer the property to
our name. We should be having concrete proof to assert the inheritance along
with the rights. With the help of a will, the process gets simplified, the
executors will simply transfer the property to the heir according to the will.
If there is more than one legal heir, the will faces a challenge, if they find
something unscrupulous. A person can transfer the property to someone else
according to his or her wish if the property is inherited and not acquired on
own. When it is inherited, the succession law will be applied. When there is no
will, disputes can arise. The first simple thing to do to avoid this situation
is a mutual agreement among the legal heirs. The shares can be distributed
between the heirs abiding by the mutually agreed terms and conditions. One of
the most important things in this regard is that there should be a registered
written agreement with the help of a family settlement.
A will not there implies a serious
situation. In this case, we have to check whether the property was distributed
according to the laws of succession. The laws of succession can govern an
individual as well as a group of people. As per the Hindu Law of Succession, if
a Hindu man dies, leaving his property, without making a will, the property is
inherited by the class 1 heir at first. The class 1 heir includes the widow,
the mother or his children. If there are no class 1 heirs, it will transfer to
the class-2 heirs which indicate the grandchildren, the father, the sister or
the brother and other relatives. If we want to buy an inherited property, we
must be aware of the class of heirs who have inherited the property.
There is a need for
various kinds of documents before a property transfers finally. Once the
rights, shares, liabilities and beneficiaries are settled upon, the property
gets transferred. Whether the property passes on to an individual legal heir or
multiple heirs, the documents should be proper to make sure there is no further
dispute. First and foremost, the property transfer should be done at the office
of the sub-registrar. Other than this, the will, the property ownership
document and the probate or succession certificate is quite essential. The
document registration is not the last thing to do. The next step is to apply
for the mutation. This is done to officially record the transfer of an
immovable property’s title.
Before we decide to purchase a property, we
should engage in carrying out a thorough verification and the perusal of the
title documents. For NRIs, there are NRI legal services India, who carry out these services. They are also capable of handling
NRI property disputes. The title
search is done for at least 30 years and is done by a title investigator,
property dispute lawyers or an advocate. To make sure that the property is
legally clear it’s good to see whether the leading bonks have approved it. The
banks approve only those properties which have valid documents and legal
clearances. The property should also not be mortgaged. The builder should be
capable of showing the sanctioned plan so that we can compare it with the actual
built-up area. Doing this is mandatory as many times the two do not match.
Amy Jones is a certified legal expert by profession and she is associated with Ahlawat & Associates- legal firm in India. She loves sharing useful information about business, finance and law with needy people.
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