Property issue Property issue

2 years ago

A freedom fighter have 4 sons , wife, 2 daughters . He made 6lakhs investment in two parts of 3 lakhs and nominated 3rd and 4th sons as nominees. He died recently. His mutual funds are settled with nominees. He also had a self acquired property. He has not made any will till death, what is legal right for each to distribute the cash and property, plz advise.

Kishan Dutt Kalaskar

Responded 2 years ago

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A.Dear Sir,
All the six members and if his wife is alive get equal share as per the following provision of law.
Section 8 of Hindu Succession Act:
General rules of succession in the case of males.―The property of a male Hindu dying intestate
shall devolve according to the provisions of this Chapter:―
(a) firstly, upon the heirs, being the relatives specified in class I of the Schedule;

CLASS I
Son; daughter; 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.


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Vidhi Samaadhaan Vidhi Samaadhaan

Sidhaarth

Responded 2 years ago

A.All properties left by deceased is liable to be equally shared by each legal heirs including his wife, daughters and sons. Nominee has limited right to receive the property and money where he is nominated but nominee is bound to distribute the received property and money among all legal heirs in equal proportions.
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Pardeep Kumar Dhiman Dhiman

Responded 2 years ago

A.Dekhiye nominee sirf money ki dekhbhal kar sakta hai. Vah usko personal use nhi kar sakta hai. Uski duty yah hai ki vah total money ko nikal kar died person ke total successor ko equal bantkar de.
Rahi property ki baat sabhi ka brabar adhikar hai.
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Advocate Sinjari Bandyopadhyaya

Responded 2 years ago

A.Nominees are mere custodian of assets so if the other legal heirs and heiresses of the deceased person ask the Financial Institution for stop payment of the disbursement of the Mutual Fund amount in favour of those Nominees, then the Financial Institution is bound to keep their request and at the same time the Financial Institution will ask them to submit the Succession Certificate.

As there is no Will of that deceased person, for the succession of the movable assets of the deceased person, his legal heirs and heiresses have to apply before the Competent Court of Law for Succession Certificate.

To prove inheritance in respect of the self acquired immovable property of the deceased,his seven legal heirs and heiresses have to apply for Legal Heir Certificate,on the basis of which they can mutate their names in the Record of Rights in place and stead of the deceased person,each having undivided one-seventh share therein.
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Vidhi Samaadhaan Vidhi Samaadhaan

Anik

Responded 2 years ago

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A.Hi,
The Hindu Succession Act, 1956 lays down a uniform and comprehensive system of inheritance and succession. It is applicable to Hindus, Buddhists, Jains, and Sikhs. According to that, you all have equal right in his property and shall get equal share.
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Ayantika Mondal @ Prime Legal

Responded 2 years ago

A.Hi,
Since he died intestate, the property will devolve according to Hindu succession act,1956 if he belongs to Hindus, Buddhists, Jains, or Sikh religion. According to the said statute, each one of you has equal right in his property. The property will devolve equally among 4 sons,2 daughters and his wife.
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