Orchard 126 HIRA Registration No. - HIRA/P/NOR/2018/000236

Posted On August 16, 2019

Common Issues with Property Inheritance that Everyone Should Know

Common Issues with Property Inheritance that Everyone Should Know

 

It’s always a sorry state of affairs when there’s a death in a family. The episode turns even bitter when one has to deal with property inheritance right after such mishaps. And guess what, it’s never an easy go. For instance, an inherited apartment might be treated as a gift in some case, unless, there’s a will that says otherwise. While the family is still in mourning, complications ensue over the same as things go spiral. Now, these cases generally involve legal documents that demands to be prepared and checked under the supervision of an expert legal person before one can make any move. Here are a few pointers to make life easy.

  • Ownership of property: After the death of the original owner things get more complicated when there is no will. However. If you want to inherit a property you need to make sure that the property gets assigned and muted in the revenue record of the local state government. However, this process can take place only if there is a valid proof of inheritance.

Ownership of property

 

On the other hand, in case of flats and apartments, the identification of the successor is required as a proof of the mutation. Further in case of cooperative societies the property is offered to the nominated person after the death of the owner. Please note down that especially this law varies from state to state. For example, in West Bengal, the nominee who is also a family member get the complete control of the property after the owner’s death. But in the state of Maharashtra, only a nomination is not enough to make a person the owner of the property. All in all a nominee can claim the death benefit money from the company, but it is the duty of the nominated person to assign the entire property to its legal successors.

 

  • What actions to take when there is no will? The entire process of property inheritance is very smooth and less complicated when there is a will left behind by the deceased person. In such conditions, the legal successors can claim the property as per the declaration on the will. But what if there is no will at all? The absence of a will can generate critical arguments among the family members. In such cases, Hindu succession law comes in to force. According to this law, the property of a departed man is to be distributed equally among his widow wife, mother, and children in case of no execution of will. Moreover, if the property becomes the apple of discord among the family members the court can settle down the matter. All in all, you can always take expert advice in such complex cases.

 

3 BHK apartments

 

  • Legalizing the documents: For transferring the property the beneficiaries needs to apply at the office id sub-register. If there is a will then the beneficiaries require getting a succession certificate. To get the succession certificate an application to the magistrate of the high court is required.

 

  • Keep it or sell it? This is another worth-mentioning issue that can take place. After inheriting a property if you want to keep it, then you need to maintain it for long. If you are already residing in a house, such scenarios can lead to a heavy headache. On the other hand, if you want to rent it or sell it, then you need to find a reliable tenant. You cannot rent your inherited 3 BHK apartments to a strange person as there are chances that your property may get damaged. Selling a property is never that easy. Finding a buyer who is willing to pay the right price in accordance with its current valuation is quite difficult. Moreover, you have to undergo a thorough process to maintain clarity. However, you can always take expert help for a better solution.

 

Repair or renovate

 

  • Repair or renovate? This is another thing to consider after you finally have the property. If it is a heritage structure then you must either repair it or renovate it. Keeping the building as it is can cause severe damage to its basic structure. In other words, repairing a property enhances its durability and revives its soul. The fact cannot be denied that inherited old properties are always surrounded by old priceless memories. Hence keeping them ignored is an utmost irresponsible manner. Therefore, after conquering all the legal fight you must maintain your property so that people don’t regret your win over the matter.

 

To conclude, the issues regarding property inheritance is always very complicated. A little mistake can turn the game around. For this reason beneficiaries should be very attentive while measuring each and every detail. All-in-all, taking professional help is no wrong when such complexities are hindering your path.

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