Results for #nominee
Legal
#nri#registration#nominee#documents#buying
Is it possible to nominate someone to sign the registration documents while buying a property if I am an NRI and not physically present in the Mumbai where the property is located ?
Is it possible to nominate someone to sign the registration documents while buying a property if I am an NRI and not physically present in the Mumbai where the property is located ?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The right to admit execution of a document before the registration authorities can be granted to someone by way of a Power of Attorney. An NRI can execute such Power of Attorney before the Indian embassy at the place where such NRI resides and forward such Power of Attorney to India for adjudication and payment of stamp duty and thereafter, such Power of Attorney can be used to admit execution ...
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Legal
#property#nominees#grandmother#owners#nominee
We had a property in the name of my grandfather, he made three nominees to this property including my grandmother and his two sons. My grandfather passed away 3 years ago, does this make the nominees the owners of the property? Also, can we add a new nominee or share holder in the property? Can the nominees add new nominees to the property?
We had a property in the name of my grandfather, he made three nominees to this property including my grandmother and his two sons. My grandfather passed away 3 years ago, does this make the nominees the owners of the property? Also, can we add a new nominee or share holder in the property? Can the nominees add new nominees to the property?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Nomination does not bestow ownership to property. Ownership to title of the property would be governed by the law of instestate succession depending on your religion.
Legal
#flat#nominee#owners#sell#poa
I jointly owned a flat with my wife and had made our daughter as the nominee. My wife passed away recently, so does this make me and my daughter the joint owners? Also can I sell it by taking the POA from my daughter as she is not in India? If this is the case, does the POA have to be registered? If yes, should it be done in India itself?
I jointly owned a flat with my wife and had made our daughter as the nominee. My wife passed away recently, so does this make me and my daughter the joint owners? Also can I sell it by taking the POA from my daughter as she is not in India? If this is the case, does the POA have to be registered? If yes, should it be done in India itself?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Nomination does not bestow title to property. After the demise of your wife, you and your daguhter become the joint owners of her share in the property (if there are no other children/heirs). You can obtain a General POA from your daughter for sale of the property. The POA can be executed by your daughter abroad before the Indian embassy and then forward the same to India for adjudication and p...
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Legal
#bank#deposit#nominee#death#money
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You will be entiteld to withdraw the monies lying in the fixed dpeosit of your father on the basis of the nomination made by him, however, if your father has died intestate then all his legal heirs will be entiteld to claim thier respective shares in the estate of the father which would include the fixed depsoits made by him.
Legal
#nominees#flat#society#nomination#divided
My mother had nominated three of us brother and my late elder brother's wife as the nominees for her flat. The society has denied that there has been any such nomination in any of our names. The flat was divided equally between the four of us, 25% each and they aren't willing to transfer it in our name. We now want to share it between 8 people including us and our children as we wish to sell the flat.
My mother had nominated three of us brother and my late elder brother's wife as the nominees for her flat. The society has denied that there has been any such nomination in any of our names. The flat was divided equally between the four of us, 25% each and they aren't willing to transfer it in our name. We now want to share it between 8 people including us and our children as we wish to sell the flat.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Nomination does not bestow title and as such the title to the property will be governed by the relevant laws of succession depending upon your religion. However, all legal heirs can together execute a family arrangement interse deciding to share the proceeds from the sale of the flat in such manner as they may deem fit.
Legal
#huf#will#rules#nominee#property
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If your nephew forms part of the HUF, then you could devolve your share in the investments of the HUF unto and in favour of your nephew by way of a testamentary disposition i.e. Will.
