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Showing posts from December 17, 2015

TRANSFER / MUTATION OF PROPERTY

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One of the most crucial aspects of property issues is inheritance and subsequent requirements related to this. Inheritance logically happens through one of the two processes – either a state of natural succession or through the Will document that an individual makes. Natural Succession In case of a man, in case he dies without leaving a will (“intestate”), as a process of natural succession his assets stand equally divided between his mother, wife and children. If all these are absent then the assets would be inherited by the father, siblings and grandchildren. In case of a woman, if she dies without making a will her assets will get divided equally between her kids. In situations where unfortunately either the husband/child is disabled or the children are minors, then the properties would be passed on through a trust in the future. Will In situations where the Will is present, after the demise of the concerned person, the heirs would, in any case, be clearly sta