• Inheritance of movable properties

My mother, by faith Hindu, is a senior citizen staying in Kolkata. She has 2 sons, my elder brother and myself. My elder brother had died interstate leaving behind his wife and one minor son. My mother has some bank accounts, fixed deposits and jewellery. She wishes that I become the sole owner of all her movable properties after her death as she had already gifted properties worth over a crore to my late brother's wife and his son and also relinquished her share in the properties left behind by my late brother. What is the best option for me so that there can be no legal disputes in future and neither my sister-in-law nor my nephew can stake claim in the movable properties left behind by my mother?
Asked 3 years ago in Property Law
Religion: Hindu

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12 Answers

Your mother should execute will bequeathing money lying in fixed deposits , bank accounts , jewellery to you

2) will should be attested by 2 witnesses

3) registration is optional

Ajay Sethi
Advocate, Mumbai
87938 Answers
6207 Consultations

5.0 on 5.0

She must pass these movable assets to you under a gift deed. This will avoid the future complications and risk.

Vibhanshu Srivastava
Advocate, New Delhi
9426 Answers
245 Consultations

5.0 on 5.0

if mother decides to gift or bequeath her entire personal property to one son alone, she is permitted to do so. There is no bar in Hindu Law or the Secular Law in India preventing a person from disinheriting all other offspring in favour of one son.

Mohammed Mujeeb
Advocate, Hyderabad
19031 Answers
32 Consultations

4.5 on 5.0

Dear Client,

Bank accounts and all such movable proprieties , your mother can gift you in her life time, no registration required or can execute WILL (get it registered) in your favor (effective after mother death ).

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

She can make you as nominee of all the fixed deposit and bank accounts and write a will in your favor that after her death you will be the owner of the gold and all bank accounts. Make the will Registered.

Swarnarka Chowdhury
Advocate, Mysore
1878 Answers
5 Consultations

5.0 on 5.0

1. Even "IF" a will is registered in your favor, still it can be challenged on flimsy grounds in the court, thus delaying the inheritance and adding upto litigation and souring up of relations.

2. HOWEVER, IF "today", while being alive, the said properties may be Gifted via a registered Gift Deed, THEN the same becomes safe and non-challengable.

Keep Smiling .... Hemant Agarwal

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

Mother can make registered will in your favour for all her movable and immovable assets.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

1. There is no requirement of registering any deed of conveyance like gift deed in case of movable properties like Jewellery.

2. She can just notarise an affidavit affirming that she has gifted the said jewellery and also the amount mentioned in the FDs and other bank accounts in your favour.

3. Thereafter she shall have to apply to the Bank for introducing you as the jont holder of all her bank accounts including the FDs wherein in tghe mandate column, she shall have to mention 'either or survivor'.

4. Based on the above, you shall be able to handle/operate her said FD and other accounts by yourself, after her demise.

Krishna Kishore Ganguly
Advocate, Kolkata
26602 Answers
726 Consultations

5.0 on 5.0

She can make you the nominee or joint holder of all her movable property.

She can execute a gift deed also transferring all her movable property to you name, however this may trip her of all the benefits of her own proeprty and then she may have to depend on you for all her needs.

She can execute a Will but that will come into force only after her lifetime and in that also your sister in law and her son have to give no objection.

Do it now or never.

T Kalaiselvan
Advocate, Vellore
78097 Answers
1543 Consultations

5.0 on 5.0

1. Sir when there is a registered will least chances of any challenge even challenged the suit will not succeed so the will is full proof when registered. Further no NOC from nephew or other legal heirs required,

2. Sir for registering gift the mother has to transfer everything to you for a valid will and gift cannot be conditional so if mother is ready to give everything then gift can be done.

3. A notarised gift deed for the movable property can be made giving you all the assets she has. For movable property deed Rs. 100 stamp is enough.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

1) your mother can execute will or gift deed in your favour

2) affidavit would not suffice

Ajay Sethi
Advocate, Mumbai
87938 Answers
6207 Consultations

5.0 on 5.0

1. Probate will required to be availed from the Court by filing of probate application to get the will executed in your favour validated and in that case the other legal heirs will get copy of the probate application and also will get the option to contest the validity of the said will.  So, registered will is not going to be of any additionalk help for you in the given circumstances when the subject properties are moveable properties.

 

2.  Registered gift deed by paying stamp duty is not required for movable properties.

 

3. Notarised Affidavit on Rs.100 stamp paper by your mother affi9rming her said gift of moveable properties is the appropriate remedy in the instant case.

Krishna Kishore Ganguly
Advocate, Kolkata
26602 Answers
726 Consultations

5.0 on 5.0

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