Things to Know about Inheritance laws in India
Inheritance is not exactly the first things which comes up in person's mind when near and dear one passes away. It is something about which person should think about it in the near future. The inheritance laws in India are originated from Indian Succession Act of 1925 and Hindu Succession Act of 1956. These Indian inheritance laws vary from religion to religion and with different sections of people dealing with inheritance in different ways. It is very beneficial for the person to know various facets of these inheritance laws.
Inheritance without a Will
If the eldest person of the family dies without making a will, then the property is to be divided among existing family members according to the existing succession laws. The succession laws in India are different for three major religions namely Islam, Christianity and Hinduism. The inheritance laws of Hinduism are also applicable to other religions namely Sikhism, Buddhism and Jainism.
Hindus are further divided into sub categories namely Tier-I and Tier-II, which is based on ancient traditions. The inheritance law applicable to Hinduism is not applicable to Muslim religion because there laws are prescribed in the Sharia which makes the Islamic code of conduct. The laws for Christians are based upon the 1925 Indian Succession Act.
How to Permanently Transfer Property
Mutation is a legal term which defines the act of transferring property from one person to another. Once the legal transfer or ownership of the person is accepted by the court then the process of mutation can be started by the confirmed by the person. Every important legal document is required to be submitted to the court for their scrutiny. In case of some property or land these include proof of inheritance through the will, death certificate of the deceased and the complete set of land records related to that property.
What if there are Multiple Heirs?
In case of multiple heirs, the mutation process will be complete only when No-Objection certificates are submitted by the remaining heirs. Application for mutation can be challenged by inheritors by way of an appeal. Such appeal is required to be filled within 30 days of the mutation application. After the time period of 30 days the person avails the right to sell or rent out the inherited property.
The interstate real estate is commonly sold to a third party so that each heir receives person's share in cash. Heir generally makes request in order to receive his share of any real estate "in kind". This is because title to the fraction of ownership in real estate is represented by the heir interstate share of the estate is transferred to that heir.
Very often in an inheritance case there are number of heirs titled to inherit one piece of real estate property. In such case heirs are not on good terms between them, there will be problem and anxiety arising from the possible joint ownership of the same property.
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