• Does detailing of jewellery in a will require valuation payment of court fees? How much?

Does detailing of jewellery in a will require valuation and payment of court fees on the assessed value? Is there a stamp duty also? What about details of cash? Or share from proceeds of property sale? Does that also require court fees/ stamp duty?
Asked 4 years ago in Property Law
Religion: Hindu

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14 Answers

Registration of Will doesn't attract any stamp duty. 

However at the time of taking Probate of Will the court fees may vary with valuation of the property mentioned in Will. 

Devajyoti Barman
Advocate, Kolkata
23180 Answers
509 Consultations

Will is not required to be executed on stamp paper 

 

2) jewellery in will does not require payment of court  fees 

 

3) you have to pay court fees when you apply for probate of will 

 

4) similarly for cash etc bequeathed  in will you have to pay court fees when you apply for probate 

Ajay Sethi
Advocate, Mumbai
96708 Answers
7795 Consultations

During your lifetime transfer sale proceeds of immovable property in beneficiary name 

Ajay Sethi
Advocate, Mumbai
96708 Answers
7795 Consultations

No stamp duty or court fees is payable on a Will

You can have a residuary clause in the Will

Yusuf Rampurawala
Advocate, Mumbai
7658 Answers
79 Consultations

1. For obtaining probate of the will Court fee is to be paid based on the value of the willed property for which probate has been sought and the maximum amount is Rs.50,000/- in West Bengal.

 

2. While filing the probate you can mention 'undetermined value'  just after the cause list.

 

3. You shall have to pay the Court Fee after mentioning the value of the bequeathed properties including the Jewelry after the probate is granted to make the probate valid. 

Krishna Kishore Ganguly
Advocate, Kolkata
27421 Answers
726 Consultations

1. First of all you shall have to have the title of those properties before selling.

 

2. For having the title of those propertie4s willed in your favour, you shall have to obtain probate of the said will.

 

3. Without having the grant of probate, a will has no value more than a scrap paper.

 

4. Once the will is probated and you get the title of the properties mentioned in the will, you can sell them as per law.

Krishna Kishore Ganguly
Advocate, Kolkata
27421 Answers
726 Consultations

- As per law, a WILL can be written on a blank paper , and the registration is not mandatory , hence no valuation of jewellery or property needed at the time of executing WILL.

- Further for removing any hurdle in future , this WILL should be probated from the court . 

- Further, court may grant Probate after paying a fixed court fees based on valuation of the assets/property. 

Mohammed Shahzad
Advocate, Delhi
14401 Answers
221 Consultations

There is no stamp duty payable for the property bequeathed in favor of the beneficiary by a testamentary disposition, even if it is done by a registered document.

Ther3efore you do not have to pay any stamp duty or taxes for the property to be bequeathed through a Will.

 

T Kalaiselvan
Advocate, Vellore
86909 Answers
2330 Consultations

Please be aware that any property   whether it is movable or immovable, if the testator wishes to bequeath the same to multiple beneficiaries, he can make different schedules of the same allocating to the beneficiaries as per his  wish and desire through a Will.

There is no stamp duty payable for this kind of transfer i.e., testamentary disposition.

 

T Kalaiselvan
Advocate, Vellore
86909 Answers
2330 Consultations

No stamp duty is required. You should describe the jewellery and state the weight of the same. That would be sufficient.

No. No stamp duty on those. Mere details sufficient.

Rahul Mishra
Advocate, Lucknow
14103 Answers
65 Consultations

All tge articles should be clearly stated and a detailed description. The assets can be kept in a bank locker.

Rahul Mishra
Advocate, Lucknow
14103 Answers
65 Consultations

1. No stamp duty or court fee is to be paid on will irrespective of valuation arrived at in the will. If you register the will you just have to pay the registration charges.

2. Get it drafted by a lawyer. A lawyer would know how to detail out everything.

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

There is no charge fee or duty etc on a will. It is only the desire of a person. You can write anything in it. Will is not required to be registered. You can mention any asset in it, movable or immovable or future. 

Gopender
Advocate, New Delhi
384 Answers

No it doesnt require stamp duty but if there is a govt approved valuer's report then it will be good.

Prashant Nayak
Advocate, Mumbai
32359 Answers
199 Consultations

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