SAMBA MOORTHY T.V. (4 Points)
21 March 2016Sirs,
My father had purchased a Housing Flat on his and in the year 2000 he has died.
Sofar, after the demise of my father my elder brother has not claimed his right over my father's above flat property. Since he has not claimed his right over the (my father's) property has he any right to claim his right over my father's property? Suppose, after the demise of my above brother, without his claim his right till his end, his legal heirs having right to claim my brother's right over the property ?
Kavk Sn
(12 Points)
Replied 22 March 2016
Yes. for your brother's right over the property, his children can claim. Hence you should go for "relinquishment deed" to be executed by your brother and his children by giving a nominal consideration. the stamp duty payable on "relinquishment deed" is on consideration or Market value of your brother's share whichever is higher prescribed in your state ( as the stamp duties are vary from one State to other State).
CAclubindia
