The loss of a parent or loved elder is a
painful incident in our lives. But along with it comes the complications of
inheritance of which the most cumbersome is the process of inheriting an
immovable property like a house. Where a clear will is absent the disputes
regarding actual ownership and rights become a murky affair even among brothers
and sisters. Even when there exists a clear will there can be several legal
issues regarding inheritance of a house. It is in such circumstances that a
good understanding of the rules and regulations governing inheritance of
properties comes handy to the average man. Especially if has to face the
challenge of placating multiple claimants and heirs.
First
Things First
Before laying claim to any kind of property
from the deceased one needs to make sure that there are no outstanding debts
that have to be paid off. In case there are any debts or outstanding and
unsecured loans they will have to liquidate before any division of the property
can be thought of. All the heirs have to first agree upon the modus operandi of
this debt clearance. In case there is ambiguity in the will and it does not
match accurately with the total existing assets mentioned in it, legal advice
must be sought while arriving at any kind of settlement. Lack of clarity in the
will can lead to serious legal complications at a later stage which can be
avoided by working in the right direction in the beginning itself.
Starting the Legal Process
The very first step in the right direction is
to get hold of the testator’s will which can be obtained by applying along with
the deceased’s death certificate to the district registrar. The registrar will
open the sealed will in front of all the heirs and then hand over a copy to
each applicant. In case the deceased has nominated only a single heir then only
one copy will provided to him. In case there is no will then as per Hindu
Succession Act the property will pass on to Class 1 heirs who include spouse,
children and mother of the deceased. In case of absence of Class 1 heirs the
Class 2 heirs comprising of father, grandchildren and siblings. If the deceased
was a woman then the property is equally divided among the husband and children
in case the woman has died in state (without a proper will). In case of the
heir being a minor or disabled the property is transferred via a trust at a
suitable point of time.
Once the legal ownership of the property for
that heir is confirmed the next logical step is to apply for mutation of the
house to local municipal authority. It is essential that mutation of the house
only helps in updating the records of the government and in no way confirms
ownership. However it is an essential step in cementing your ownership on the
house. In order to apply for the mutation one needs to deposit all the relevant
legal papers of the house, proof of inheritance through the Will, death
certificate of the deceased and land records of the said property. A NOC from
the other heirs is also required in case of multiple heirs. Any challenge to
this application for mutation will be referred to the sub divisional
magistrate. However the appeal for dispute must be within 30 days of the
mutation order. In the case of multiple legal heirs to the property the
mutation will be in name of all the heirs.
Once these legal formalities are over then
the heir is at liberty to either reside in it or rent it out. He can even sell
off the property at will as he is the sole owner of the house. In case of
multiple heirs to the house, it is advisable to mark the division of property
among them right at the time of mutation to avoid complications subsequently.
Thankfully, till date there is no inheritance
tax in our country and one doesn’t need to pay any additional charges for a
house inherited by him. However once the house is legally yours you may have to
pay Wealth Tax in case the net worth of all your properties exceeds Rs. 30 L.
An inherited house can greatly boost your total asset value or come as a savior
in difficult times. Thus knowing the right provisions that are applicable will
help you to get what is rightfully yours without any
legal delays or hassles.
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