By Economic Times of India
In the case of mutual agreement among family members, a will is the best way to pass on assets.
It is issued by the zonal office of the local municipal body. For multiple copies, you can simply download these from the municipal website.
In case of mutual agreement among family members, a will is the best way to pass on assets. While nominations help in transferring movable assets like bank deposits or insurance policies, a will takes legal precedence over a nomination. If there is a discord, a will is the best option, especially in case of self-acquired property. Get a probate, if required, as it’s needed in some states.
If there is no will or nominee, in case of movable property, get a succession certificate. This is a must if there is neither a will nor a nominee, or both the parents pass away without a will. In case of immovable property, the property is divided as per the succession laws among all the legal heirs.
In case of real estate, have the property transferred in your name at the sub-registrar’s office. Here, you will need the will (with probate) or a succession certificate. Without a will, you may also need an affidavit with a no-objection certificate from other legal heirs. The next step is mutation of property, which means transferring the title in land revenue records.
Inform the banks so that no one can withdraw the money from accounts and also file a petition for succession certificate (as mentioned earlier) to claim your share in the account balance. In case of any apprehension, also file an injunction suit to prevent other legal heirs from denying you your share in the accounts, or other properties of your father or husband.
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