Q.I have ancestral property, which will be divided equally between my son and daughter. My daughter wants to leave her claim in favour of her brother. How can we do this? — M. Khandelwal
To lawfully transfer the rights of a legal heir in an inherited property to another legal heir, two methods can be employed: executing a relinquishment or release deed, or opting for a deed of gift. Your daughter can choose either of the two to give up her claim to the property.Q.I I bought a house jointly with my parents, for which I took a home loan amounting to 45% of the property value. I have completed the debt repayment. The remaining 55% was paid by my father as down payment from his retirement money. Thereafter, I applied for a home extension loan for 20 years, of which 10 years are remaining. I stay in this extension along with my husband and mother. My father died without leaving a will. I have a younger brother, who didn’t contribute to the loans or maintenance to my parents. What rights does he have in this house? My brother is also going through marital problems, is currently jobless, and may try to force his way into our parents’ house. What rights will my brother have in this property? Can he ask for his full share, and will the loans paid by me count in any way? Can his wife demand a share in the house or sales proceeds if it is sold in the future? Can I hold sole property rights with my mother? — S. Sharma
As mentioned in the query, the father has paid for 55% of the property value for acquiring it from his income or savings. Since he died without leaving a will and without making you the beneficiary of his share in the property, your mother, you and your brother will have an equal right in his 55% share as all of you are class I legal heirs. In your share of 45% of the property value, your brother will not have any right. The loan paid by you is for your share of the property, in which your brother has no right. Your brother’s wife can claim a share only after the demise of your brother and, that too, to the extent of your brother’s share in the property.
Q.My two brothers and I jointly own a leasehold plot of land in Chhattisgarh. This plot houses a double-storied, century-old structure that has been occupied by our cousins for about 50 years now. As leaseholders, we are interested in exploring the possibility of donating this property to our cousins. How can we do this? —A. Gowardhan
You can gift the leasehold plot to your cousins, subject to the right to gift provided in the lease deed that was executed initially. You should also consider taxability in the hands of recipients as per the provisions of Section 56(2)(x) of the Income-tax Act, 1961.
Disclaimer: The responses are based on limited facts provided by the queries. It is advisable to consult a legal practitioner after presenting full facts and documents. Responses should not be considered as legal advice in any manner whatsoever.