Is it potential to promote any property after registering it as present deed?

If a Hindu donor transfers property through a registered present deed however subsequently sells this property to a 3rd occasion quickly after, which doc will maintain authorized priority?

—Name withheld on request

Your question infers that every one the best, title and curiosity of the donor within the involved property has been unconditionally and irrevocably transferred in favour of the donee below the registered present deed. Hence, the title to the property in query has been handed on to the donee; and therefore the donee is now absolutely the proprietor of such property.

Any subsequent purported switch of the identical property by the donor on this case by advantage of any doc or in any other case, is not going to have an effect on the rights of the donee. In different phrases, the third-party purchaser is not going to get any legitimate title to such property and the rights of such third-party purchaser shall be topic to the rights of the donee.

I’m exploring the potential of crafting distinct wills for every property in my possession. I’m looking for steerage on the authorized viability of such an strategy. Additionally, I wish to know if creating separate wills for every property is certainly a viable choice.

—Name withheld on request

Assuming that every one the property proposed to be bequeathed below testamentary instrument(s) are held in India, just one will is to be ready for all such property. The executors of your should take steps to acquire probate (if that’s the case relevant) of such will in India from the related courtroom, if required; and make sure that the bequests of various property in favour of various legatees below the need takes impact in accordance with the provisions of your will. Multiple wills are extremely more likely to trigger points on their validity and run a danger of being held invalid; and really more likely to trigger confusion. That mentioned, in the event you maintain property in a number of jurisdictions (i.e. outdoors India as effectively), then it’s advisable to make one will for every such jurisdiction the place the property are held as this may guarantee smoother succession of your property in favour of the legatees.

Do attain out to your legal professional for a deeper dialogue and evaluating the professionals and cons primarily based in your nature of property, variety of legatees, inter-personal relations amongst members of the family, and so on.

Rishabh Shroff is accomplice and co-head, personal consumer, Cyril Amarchand Mangaldas.

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Updated: 12 Sep 2023, 10:48 PM IST