Dear Kaanoon lawyers, My father passed away intestate. Our family are Indian Christians/ Catholics. His legal heirs are me, and my mother. I do not have any siblings, and my father's parents are deceased. My parents jointly own a flat in Mumbai. They have executed a join nomination in my favor. I have been advised that the following are required - Succession certificate Letter of administration Family settlement agreement ( to state my percentage ownership in flat ) My intention is to jointly own the property with my mum with respect to our respective share ownership. And to be able to get an education loan, or dispose of the property if required. Please advise how should we proceed. Thanks
Succession certificate is only for movable debts abd securities. It is not immovable property
2) since father died intestate apply fir letters of administration from Bombay Hugh court
3) enclose father death certificate
4) pay the court fees of Rs 75000
5) LA takes around 6 months if there is no contest
6) then apply to society to transfer flat in mother and your name
As on date, your mother has 75% share in this Mumbai property, and you have 25% share.
Obtain a LOA by way of applying for the same and paying the requisite court fee.
Once you obtain a LOA and the share certificate is transferred in your name and your mother's name, you will be free to sell this property or obtain an education loan against the same.
Hello sir , you can Accquire a succession certificate from court in favour of your mother and yourself .. Once the court passes a decree in your favour , the property shall be transfered on both of you in the revenue records .. Thanks
Thanks for your response. My follow up question - 1. Can LA be applied jointly by me and my mum? or does one of us necessarily have to be the sole administrator? 2. Apologies I did not mention earlier, there are 2 flats with the same ownership structure.Is the procedure the same? May I apply for a single LA with fee 75k, that includes both flats? Thanks.
1) both can apply for LA
2) you can include both flats in petition for LA
3) court fees would be around Rs 75 K . Legal fees vary depending upon the Lawyer engaged by a ou
Hello sir , you can obtain a single succession certificate for both the properties ..both of you jointly have to obtain the certificate
1. Yes, you are free to move a joint application.
2. You may move single application for both the flats.
The letter of Administration by you and your mother can.be applied jointly.for.both the flat.and the fee for.LOA in maharashtra is max. 75000.
You have to pay 75.thousand only for LOA. of both the flats .
1. Succession Certificate is required for claiming movable properties like bank account, shares, FDs, MFs etc. which takes at least 6 months to obtain from the Court by filing an application. Whereas legal heir certificate is required to claim immovable properties like land, flat,house etc. which can be obtained from the local Municipal corporation through ward counselor or Tehshilder with in 7 days.
2. No letter of administration is required here since there is no will executed by your demised father.
3. There should be a settlement deed registered by and between your mother by which you two will settle for the title of individual ownership of the title of your deceased father's property either in equal or on agreed proportion. This will make you the recorded/registered title holder of a portion of the said property.
4. Based on the said registered settlement deed, you and your mother can deal with the said property as per your wish.
5. For selling the said property, the said settlement deed is not required and you and your mother can register the sale deed since you two are the sole legal heirs of your deceased father's properties.
1.For selling the said flat no LA is required. You two can just register the sale deed in favour of the buyer.
2. To record your share on your deceased father's properties, you shall have to register the settlement deed as suggested in my earlier post.
3. No LA is required to be obtained at any point of time in the instant case.
If there is nomination in joint names, succession or letter of administration is NOT required. On basis of nomination society should necessarily transfer membership. If society is refusing you can approach Dy registrar
You will have to apply for LOA from the Bombay High Court, the same will take around 6 months and thereafter you may approach the society for the needful
Both the legal heirs can apply for LA
Court Fee: Approx 70K
Advocate Fee: Varies from lawyer to lawyer
Since the property was jointly owned by your deceased father along with your mother, his share of property shall devolve on his own surviving legal heirs, i.e., your mother and yourself.
A succession certificate is not required for transfer of immovable property.
Letter of administration is also not required if your mother shall be owning the entire house property.
Between you and your mother, there is not any necessity for family settlement deed also.
Dear friend,
It is not wise to go for educations loan since it has lot of hidden charges. Any way you have decided then go for it and relevant master circulars issued by RBI may be read in the following link.
The Indian Succession Act, 1925
The religion of the deceased determines the succession to his estate. For example, succession among Hindus is governed by the Hindu Succession Act, 1956. As such, Christians in general are governed by the Indian Succession Act of 1925 for succession purposes.
http://districtcourtsnamchi.nic.in/laws/indian_succession_act_1925.pdf
Master Circular- Loans and Advances – Statutory and Other Restrictions
https://rbi.org.in/SCRIPTs/BS_ViewMasCirculardetails.aspx?id=5113
1. EXECUTE a duly Stamp Duty paid Registered "Family Settlement Deed", for all the properties, with all the residual legal heirs of the Deceased. This will be sufficient for all legal purposes and no other documentation /decree etc.... would ever be required.
Keep Smiling .... Hemant Agarwal
