1) expired partner parents need letters of administration from district court
2) succession certificate is only for movable securities
3) you have right cancelled the deal with builder
Vaaris Patra and Succession certificate
1. I am purchasing a flat from a pvt. builder . It is built on a registered free hold residential plot. The plot was initially registered between two business partners and an apartment was raised to sell the flats . 2. Just when the flats were getting ready, one partner and his entire family expired in an accident 3. The other partner helped the deceased partner's aged parents to get the Vaaris patra from Tehasildhar in their favor as there were no other survivors of the expired partner and,on basis of Vaaris patra issued Tehasildhar another Vaaris patra was obtained from the Dist. Magistrate by the expired person's parents . Mentioning the Dist .Magistrate's Vaaris patra no. and dt the expired partner's mother transferred her power to her husband (father of the expired person)and the property mentioned above got changed at the office of the Registrar -Ghaziabad between the surviving first partner and the expired partner's father. 4. This document is there in the chain of property documents and entire chain is perfectly okay and based on the same documents our builders’ advocate has cleared the case for sale of flats and, registration against bank loan for more than 10 flats till now in last couple of months In the same building. 5. As the entire property chain is perfectly okay the bank where I applied for home loan approved the loan and disbursed payment by two chqs of equal amount to both the partners( first partner and the expired partner's father who replaced his son's place) of the property. 6. The chqs. were to be handed over to the two partners at the time of registration of the flat I bought. But , the advocate declined to release a legal advice raising the objection succession certificate is a must. 7. In the Vaaris certificate issued by Dist. Magistrate it clearly states that the surviving parent s are the only Vaaris of the deceased persons but , one mention is made in that stating that this vaaris patra is valid for receiving payment only up to Rs. 5000/- (five thousand only) but states that if any one or authority wants to make payment over and above this limit it is at their sole responsibility. 8. Now that our banker’s advocate declining to do so, I have cancelled the loan sanctioned and applying again to get it done from builder’s advocate. Request your comments and advice, Regards SSV
Asked 8 years ago in Property Law
Religion: Hindu
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8 Answers
The flat I am purchasing is on my step daughter's name taking bank loan on her name. Her mother is my second wife. I have a daughter from my late first wife. I do not have any legal proof for adopting my second wife's daughter but her mother is my legal wife with proof of my name name in her id/ address. For this flat the total initial margin amount is paid by us (parents) . After passing away of we both, we want that property to be shared between both the step sisters equally , only with respect to our ( parents ) share. and rest will be of our second daughter as she is taking the bank loan. We both jointly want to make a will for the same. What do you suggest and how can we get it done through you and what would be the expenses? Does the will need to be registered ?
Asked 8 years ago
1) flat should be purchased only in your name
2) you can make will bequeathing flat to your wife
3) in the event second wife predeceases you it should go to both daughters
4) registration of will is optional
The advocate has rightly raised the objection. Succession Certificate is required for disbursal of the amount covered by the cheque. The legal heirs of the deceased partners should apply for Succession Certificate by filing a petition to this effect in the court.
1. The Legal Heir's Certificate appeared to be alright and the DM's limiting his responsibility to Rs.5 K carries no sense,
2. However, you were supposed pay the cheques to the partnership firm and not to individual partners,
3. Bank will not accept the legal opinion of the Advocate of the builder but from heir Advocate only,
4. However, since you have already cancelled the loan sanctioned to you, try another Bank this time duly disclosing the fact well in advance.
1. You said that the said lat will stand in the name of your 2nd daughter who will avail the loan,
2. If that will be the case, she will be the absolute owner of the said property,
3. You shall have no right to write a will in connection with other's property, even if she stands as your daughter.
Hi, Succession Certificate can be issued by the court only in respect of movable property and not in respect of Immovable properties.
8. Now that our banker’s advocate declining to do so, I have cancelled the loan sanctioned and applying again to get it done from builder’s advocate.
Actually based on the legal heirship certificate issued by the Government revenue department, the immovable property can be transferred to the legal heir of the deceased. A Succession certificate is required only for movable property. The legal heirship certificate now issued with a mention about the pecuniary limit is for movable property only and for immovable property there is no restriction, the same certificate is valid. As you said, the stand taken by different bank at different situation shall not tally with each other, hence it is better you approach another bank for loan.
and rest will be of our second daughter as she is taking the bank loan. We both jointly want to make a will for the same. What do you suggest and how can we get it done through you and what would be the expenses? Does the will need to be registered ?
You can get a Will testate the way you may desire it to be. If you want to write a Will covering the aspects what you have stated, yo can do it by drafting it with carefully chosen words to avoid ambiguity in future.
For drafting a Will you may approach a lawyer in person or through such forums like this, get your job done in the manner yo desired it to be. It is always preferable to register the Will.