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PROPERTY LAW AND THE ANCIENT SCRIPTURES

August 27, 2024/in Blog /by legal-web-admin

Property law refers to the laws and regulations that govern the ownership and use of land, buildings, and other tangible and intangible assets. In ancient India, the property law was described in Hindu scriptures such as the Mahabharata and Ramayana. These scriptures are considered to be the source of traditional Hindu law and provided guidelines for property ownership, inheritance, and other related matters.

The Mahabharata is one of the two major Sanskrit epics of ancient India, dated to the late 4th Millenium BCE, although portions were added to it until much later in the 4th century BCE. It narrates the struggle between two groups of cousins in the Kurukshetra War and the fates of the Kaurava and the Pāṇḍava princess and their successors. The original authorship is generally attributed to Vyasa, who is also a character part of the narrative, i.e., the great war takes place between his biological grandchildren. The two great epics, Mahabharata and Ramayana, depict a rich and complex system of property law that existed in ancient India. The laws were based on the principles of justice, equity, and fairness, and were designed to protect the rights of property owners and to prevent disputes.

In the Mahabharata, property rights are described as an essential aspect of society and are closely tied to social status and family lineage. The epic mentions the inheritance of property from father to son and the transfer of property through gift, sale, or exchange. In the Mahabharata, the concept of property law is discussed in relation to the inheritance of the kingdom of Hastinapura. The scripture outlines the rules of inheritance, including the division of property among the heirs. It also mentions the rights of the widows and their role in the management of property. For example, the Mahabharata states that a widow has the right to inherit her husband’s property and is entitled to manage it, but she cannot dispose of it without the consent of her sons or other male relatives. The laws of inheritance are well defined, and the eldest son is usually considered the heir to the father’s property. The Mahabharata also mentions the concept of a joint family, where property is held and managed by a group of relatives rather than by individual members. In such a family, the head of the household is responsible for managing and distributing the property, and all members have a stake in the property.

Property law is depicted as being central to the resolution of disputes between individuals and the resolution of conflicts between different communities. One of the most well-known examples of property law in the Mahabharata is the story of King Janamejaya and Takshaka, who were engaged in a dispute over the ownership of a valuable piece of land. In this story, King Janamejaya claimed that the land was his rightful property, while Takshaka claimed that he had acquired it through a legal transfer of ownership. The case was eventually resolved through the intervention of a wise sage, who ruled that King Janamejaya was entitled to the land and that Takshaka had no claim to it.

In the Ramayana, the property law is depicted in the context of the story of King Dasharatha and his sons. The scripture mentions the laws of inheritance, including the division of property among the heirs. It also describes the concept of gifts, where individuals can give property to others without expecting anything in return. The Ramayana also mentions the principle of abandonment, where a person can renounce his or her rights to property. Property law is depicted as being a key aspect of the society and culture of ancient India. The concept of private property is emphasized, with King Janaka being depicted as one of the earliest proponents of individual property rights. The epic mentions that King Janaka’s subjects held the right to own and cultivate land, trade, and engage in commerce. The laws of property ownership and transfer are also depicted in detail, with transactions such as sale, gift, or mortgage being mentioned.

One of the most notable aspects of property law in the Ramayana is the recognition of women’s property rights. The epic mentions that women had the right to own property, including land and movable assets, and that they could inherit, sell, or gift their property to others. This was a significant departure from the patriarchal societies of the time and demonstrated the importance of women’s property rights in ancient India. For example, the story of King Dasharatha and Queen Kaushalya highlights the importance of property law in resolving disputes over inheritance. King Dasharatha had three wives, and when he died, each wife claimed a share of his property. The case was eventually resolved through the intervention of Rama, who ruled that Queen Kaushalya was entitled to the largest share of the property, as she was King Dasharatha’s first wife and the mother of his eldest son.

Despite the fact, that these scriptures are thousands of years old, their principles are still applicable in present times. In India, the Hindu Succession Act of 1956 incorporates many of the traditional Hindu laws of inheritance and property ownership. This act recognizes the rights of widows and provides for the division of property among the heirs. The act also defines the concept of gifts and outlines the rules of inheritance.

In conclusion, the Mahabharata and Ramayana provide valuable insights into the property law of ancient India. The principles outlined in these scriptures are still applicable in modern times and have been incorporated into the Hindu Succession Act of 1956. These scriptures provide a rich source of legal knowledge and are still considered relevant today.

In conclusion, the property law depicted in the Mahabharata and Ramayana reflects the rich and complex system of property rights that existed in ancient India. The laws and customs of property ownership and transfer were well defined and emphasized the importance of property rights in society. The recognition of women’s property rights and the depiction of a joint family system demonstrate the progressive and forward-thinking nature of the property law in ancient India. The property law in Mahabharata and Ramayana played a significant role in regulating the ownership and transfer of property in ancient India. These laws were based on the principles of justice, equity, and fairness and were designed to protect the rights of property owners and to prevent disputes. Through the various stories and examples depicted in these epic poems, we can see the importance of property law in resolving disputes and maintaining peace and stability in ancient Indian society.

WHAT IS CONVEYANCING?

August 21, 2024/in Blog /by legal-web-admin

A legal document is a written instrument that records and formalizes an agreement, obligation, or other legally enforceable act. It is a communication tool in the legal sphere designed to express and enforce rights, responsibilities, or procedures under the law.

Conveyancing is the branch of law which dealt with modes and forms in which the expression of intention to transfer a property must be shown in a deed, so that it takes effect. Conveyancing deals with the modes and manner in which a transfer of property should take place in order that it may serve as an effective and a valid transaction.

The word ‘conveyancing’ may be said to comprise all the transactions by which legal rights are created and legal relations between persons are brought in existence. It is generally that branch of law that governs and is related to the drafting of documents. The science of drafting is conveyancing.

In law, conveyancing is the exchange of legitimate title of the real property starting with one individual then onto the next, or the giving of an encumbrance

Conveyancing also includes conducting thorough searches and investigations to uncover any potential issues or encumbrances associated with the property. This may involve examining property records, conducting local authority searches, and checking for any legal restrictions or disputes that may affect the transaction.

What is the objective?

The object of executing an instrument is to make the terms of transfer, its subjectiveness, its position contain and express the memory of what is written and to provide a permanent proof of the intention of the parties.

It is a vital process that safeguards both parties’ interests and ensures that the transfer of ownership is legally binding.

The process ensures that the buyer acquires a valid title to the property and that the transfer of ownership is legally binding. Conveyancing is a complex process that involves several steps and parties, and it is vital to work with a reputable solicitor and estate agent to ensure that the process runs smoothly.

SALE DEED

A Sale Deed is a legal document describing the transfer of right, title and ownership of property by a seller to a purchaser at a price fully paid or to be paid in instalments at a future date. The entire amount of sale transaction also known as sale consideration is paid at the time of registration of the sale deed.

MORTGAGE DEED

A mortgage deed is a legal document that gives lender an interest in a property when you take out a loan backed by the property. If a borrower does not pay back a loan in accordance with the agreement, the lender can foreclose and take possession of the property or have it auctioned. Basically, a Mortgage Deed is a paperwork you sign that allows the lender to put lien on the property until the loan is paid.

LEASE DEED

When a property is used and enjoyed by the person in possession of it in exchange for a consideration to the actual owner, the property is said to be leased or rented. When a property is given on a lease, it means that the lessee or the tenant can use the property for a definite period of time for which he/she would be required to pay a certain fixed amount of rent. When this period extends to more than a year, a lease deed must be prepared.

GIFT DEED

A gift deed, also known as a deed of gift, is a legal document that transfers ownership of property from one person to another without monetary consideration. It’s a voluntary transfer that can be of real, personal, or intellectual property, such as real estate, vehicles, jewelry, or financial instruments. A gift deed acts as proof of the transfer and ensures that it’s legally binding.

A Evolution History Of Property Rights Through The Lens Of Constitution Since Independence

August 15, 2024/in Blog /by legal-web-admin

As we celebrate another year of India’s independence, let’s take a moment to reflect on how our nation has grown and adapted its laws to meet the changing needs of its people. One fascinating area that showcases this evolution is the right to property, a concept that has undergone significant changes since we gained our freedom in 1947.

When India broke free from colonial rule, our founding fathers enshrined the right to property as a fundamental right in our Constitution. This decision reflected the importance of individual rights in our newly formed democracy. However, as our young nation faced the challenges of development and social inequality, we realized that this right needed to evolve.

The journey of property rights in independent India is a testament to our country’s commitment to balancing individual freedoms with the greater good of society. Let’s trace this path:

In the early years of independence, our Constitution protected property rights robustly. It guaranteed all citizens the right to acquire, hold, and dispose of property. This was a significant shift from colonial times when property ownership was often restricted.
As we grew as a nation, we recognized the need for flexibility. The Constitution allowed the State to impose reasonable restrictions on property rights to serve public welfare and protect the interests of Scheduled Tribes. This showcased our commitment to social justice – a key principle that has guided us since independence.
A major shift came in 1978 with the 44th Constitutional Amendment. The right to property ceased to be a fundamental right but continued as a constitutional right under Article 300A. This change aligned our laws more closely with the goals of social, economic, and political justice – principles that have been at the heart of our nation-building efforts.
Today, Article 300A ensures that no person can be deprived of their property except by the authority of law. This means that property can only be acquired through acts of Parliament or State Legislatures, not by executive order. It’s a safeguard that underscores the importance we place on democratic decision-making – a value we’ve held dear since our first day of independence.
Over the years, various amendments and court judgments have further refined our property laws. For instance, the recent case of Jilu bhai Nambhai Khachar v. State of Gujarat reaffirmed that while property rights are no longer fundamental rights, they remain protected under our Constitution.

As we hoist our tricolor this Independence Day, let’s appreciate how the evolution of property rights reflects our nation’s growth. From the Transfer of Property Act to modern concepts of sale deeds, mortgage deeds, and lease agreements, our legal framework has adapted to support a developing economy while striving for social justice.

This journey of property rights is a shining example of how India has charted its own course since 1947. It shows our ability to learn, adapt, and progress while staying true to our core values of democracy, justice, and equality.

So, as we celebrate our independence, let’s take pride in how far we’ve come. The story of property rights in India is not just about legal changes – it’s about a nation’s commitment to growth, fairness, and the wellbeing of all its citizens. It’s a reminder that the task of nation-building is ongoing, and that each of us has a role to play in shaping the India of tomorrow.

Jai Hind!🇮🇳🇮🇳

Procedure of Legal Transfer of Ownership Title of Property

January 25, 2022/in Blog /by legal-web-admin

The title of a property depicts the ownership rights of a person. When there is a transfer of property from the original owner to another person, the ownership changes and therefore, the title of the property needs to be changed. The new owner’s name needs to be substituted for the previous owner in the records of the government.

With the transfer of property, bundle of rights are also transferred. The new owner gets all the entitlements and benefits in respect of the property including the right to sell, mortgage, lien, gift, etc. Therefore, for ensuring valid and legal transfer, it is most necessary to adhere to various rules in law for the transfer of property title.

In India, the legal transfer of property title is surrounded by difficulties, requires proper legal document drafting, execution & registration and payment of requisite government duty to the concerned authorities.

Therefore, to avoid legal battles in the procedure to complete transfer of property title as per law, it is always advisable to take assistance of top property legal experts or top law firms’ services.

Ways of transfer of Property

There are several ways in which the Transfer of property takes place. It is vital to know first how a person acquires the title in order to decide the right way of transfer of property title. A property can be acquired/ obtained by a person in many ways, a few of which are:

Inheritance
Will
Gift
Sale deed
Any other kind of transfer

Inheritance:

Inheritance means when the owner of a property dies, the property devolves upon all the legal heirs of the deceased by way of law of succession.

In such situations, it becomes necessary for the legal heirs upon whom the property devolves to apply to the concerned department/authority and get the property title transferred/ updated in their names in the records of the department. This is the legal transfer of property title.

Even when there are more than one legal heir who inherits the title, it is permissible under law for one or more legal heir to release/ relinquish/ give up their share inherited in the property in favour of all/ any other legal heir, wherein for the purpose of transfer of their property title, proper transfer deed need to be executed and registered and the name will then be accordingly updated in the records of the concerned department.

Will:

In cases, where the deceased dies leaving behind a WILL bequeathing a property in favour of the beneficiary named in the WILL, the ownership of the property devolves upon the beneficiary named in the WILL after the death of deceased. A WILL may be registered or unregistered under the law. However, it is advisable to get the WILL probated from the Court of law, which grants a certificate with respect to the genuineness of the WILL and grants more legality to the WILL and thereupon easier to get the title of the property transferred/ updated in the records of the concerned department/ authority.

Transfer Deed:

When the property is acquired by a person vide a transfer deed such as sale deed, gift deed, etc., the title of the property get transferred in the name of the person purchasing the property upon the registration of such transfer deed by payment of proper government duty/ fees. The deeds are registered in the office of Sub-Registrars.

Whenever there is a legal transfer of title of a property, it is necessary that the fact of change in ownership must be recorded in the public records.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Property Matters, Inheritance and Succession. The vast experienced team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, Probate of WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

Everything You Need To Know About Rent / Lease Agreements

November 24, 2021/in Blog /by legal-web-admin

As home ownership may sometimes be unaffordable or inconvenient, a majority of the population in India’s major cities live in rented homes. The follow-up task is to then find a suitable rental property and create and execute a proper rent agreement to make the renting arrangement legal. As the rent agreement remains key to this entire arrangement, the same shall be made with utmost legality and the tenant must know every nitty-gritty about this crucial document.

What is a rent agreement?

A rent agreement is a crucial document that is signed between a landlord and a tenant to initiate and govern a tenancy. This document mentions every detail about tenancy and the terms and conditions of the tenancy. Both parties are governed by such agreement and have to follow the rules mentioned in the rent agreement.

Legal validity of rent agreement

To save costs, tenants and landlords sometimes reach a verbal agreement about the tenancy and avoid executing a rent agreement. Some may also document the arrangement and put terms and conditions with respect to the tenancy but decide not to register the document. This is because both parties tend to avoid to pay the registration charge if a rent agreement is created and registered. Entering into a rental agreement without registration can be said to be illegal and could prove to be a risky arrangement for both parties, especially in case of a future dispute.

It is in the favour of both the parties, to draft an agreement with specific terms and conditions and to get it registered. After drafting the rent agreement, the landlord should print it on stamp paper. Once the tenant and the landlord sign the documents in the presence of two witnesses, they should then get it registered at the sub-registrar’s office, after paying the required fee.

Details to be included in the rent agreement

Key details included in a standard rent agreement are:

Names and addresses of the tenant and the landlord.
Signatures of the tenant and the landlord.
Monthly rental amount and hike.
Security deposit.
Maintenance charges.
Period of tenancy.
Responsibilities/rights of the landlord.
Responsibilities/rights of the tenant.
Penalty for delay in payment.
Dispute Resolution.

Stamp duty & E-registration on rent agreement

One has to pay government stamp duty and e-registration fees while getting the rent agreement registered, which will vary, depending on the city where it is registered. The amount of Stamp Duty is paid by way of purchase of the stamp paper of the said value and the amount of e-registration is paid by way of purchase of E-registration fees. In Delhi, the stamp duty is payable at 2% of the average annual rent, in the case of lease / rent agreements for a term of up to five years.

Documents Required

Two passport size photographs of the Landlord and Tenant each; ID proof such as Aadhaar card, Voter’s ID card of all the parties including 2 witnesses; Copy of the computerised House Tax ID; PAN Card of all the parties including 2 witnesses, copy of latest electricity bill; Email ID and Phone Numbers of the parties; Stamp paper and registration fees receipt.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Property Matters, Inheritance and Succession. The vast experienced team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, drafting and registration of residential and commercial Rent Agreements, Probate of WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

Sale Deed and its Registration – Step by Step Process

September 30, 2021/in Blog /by legal-web-admin

Sale deed is a legal document evidencing that the sale is complete. It contains details of the buyer, seller, area, location of the property, and consideration details. The sale deed has to be registered with the sub-registrar under whose jurisdiction the property situates but before registration make sure that full consideration is paid. Only registered sale deed has legal value in the eye of law. Section 54 of the Transfer of Property Act, 1885. define “sales” that means the transfer of property or transfer of ownership from the seller to the buyer for the consideration of money paid, partly paid, or promised to pay.

Process of registration of sale deed:

Step 1: Preparation

You must pay the total consideration amount as per the agreement to a sale before registration of the sale deed. Next thing you should remember that there should not be any arrears due on a property, such as previous loans, house tax, society dues, etc. If there are such dues left, then the registrar can refuse to register sale deed.

Step 2: Calculation of Stamp Duty

Stamp duty is payable on the circle rate or actual market value whichever is higher. Stamp duty depends upon on state. In Delhi, stamp duty is 6% for male, 4% for female, and 5% for joint ownership i.e. where the property is purchased jointly in the name of male and female. Along with stamp duty, you need to pay 1% for the registration charges.

Step 3: Payment of Stamp Duty

You can visit the nearest SHCIL/Bank Authorized Collection Centre, pay stamp duty there, and provide your necessary details. SHCIL/Bank Authorized Collection Centre will issue stamp paper. A list of SHCIL/Bank Authorized Collection Centre is available on https://www.shcilestamp.com/.

You can also Purchase stamp paper for the required amount from the Authorized Stamp Vendor in your area. Visit https://www.shcilestamp.com/ to get a list of Authorized Stamp Vendors.

Step 4: Draft and Print Deed

Draft Sale Deed by mentioning buyer, seller and payment details, terms of sale etc. The sale deed should not be conditional and should be drafted in a legal manner.

Step 5: Registration before Sub-Registrar Office

Take an appointment for the nearest sub-registrar for presentation and appearance before the sub-registrar to get the Sale Deed registered.

You can take an appointment online also only for those states which provide an e-stamping facility. For Delhi visit, https://srams.delhi.gov.in/ select your area then click on the yes button if your documents are complete. Enter the e-stamp number and verify your e-stamp number. After verification, you will receive a message in which details of the appointment are provided. On the appointment date, the buyer and seller must be present at the time of registration along with two witnesses. The buyer and seller have to sign each page and witnesses have to sign only a last page. Buyer and seller fingerprints will also be taken at the time of registration.

Step 6: Collection of Registered Sale Deed

Collect token slip after signing the sale deed in the sub-registrar office. Token slip is used for future references and while collecting the original registered sale deed. Original registered sale deed can be collected in 15-20 days after registration. In case of a loan, the bank will directly collect original registered deed from the sub-registrar office.

Documents Required

Duplicate copy of the Sale Deed that needs to be registered; Two passport size photographs of the buyer and seller each; ID proof such as Aadhaar card, Voter’s ID card of all the parties; copy of the computerised House Tax ID; PAN Card of both seller and the buyer, Copy of latest electricity bill; Email ID and Phone Numbers of the Buyer and the Seller; Stamp paper and registration fees receipt.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Property Matters, Inheritance and Succession. The vast experienced team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, Probate of WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

PROBATE OF WILL – All you need to know!

September 21, 2021/in Blog /by legal-web-admin

Introduction

WILL has been defined under section 2(h) of the Indian Succession Act, 1925, as “Legal declaration of the intention of a person with respect to his property, which he desires to take effect after his death”. In other words, a WILL is a legal instrument vide which a person disposes off his property to a particular person as per his wish. Generally, WILL takes effect after the death of the person making the WILL. The validity of the WILL is proved by the signature of the testator and the attesting witnesses of the WILL but if there is a probate of will, then it increases the credibility of the WILL.

What is Probate and how long does it take?

Probate is a copy of the WILL duly certified under the seal of the Court to be genuine, authentic and last WILL. Probate of WILL adds a legal character to the WILL, facilitating the executor to distribute estate properly amongst the beneficiary. The entire process of Probate of WILL generally takes minimum six months to complete. However, if there is any objection from the public regarding the WILL, then the Probate of WILL process takes more time to get completed, depending upon the seriousness of the objection.

The Requirement of Probate if there is a WILL?

The rules vary from state to state and particularly, the probate of WILL made in Delhi is not required to be mandatorily probated. However, in normal practical parlance, most of the government authorities and departments have made probate of WILL as one of the requisite, when one relies upon the WILL.

What is the Procedure for Probate of WILL?

The procedure involves the following simple stages:

Making of application to the concerned District Judge through a probate petition which must be duly signed and verified by or on behalf of the applicant and need to be accompanied by an affidavit from one of the witnesses to the WILL.
Publication in the newspaper to call for objections from the general public and issuance of notice to the legal heirs of the testator other than the beneficiary and calling of report from the concerned SDM in respect of the value of the concerned estate.
No objection from the legal heirs of the testator other than the beneficiary.
Evidence of the person filing the probate petition and subsequently, hearing of final arguments.
Passing of judgment for the grant of probate of the concerned WILL.
Submission of requisite court fee, surety bond alongwith surety and subsequently upon acceptance, issuance of Certificate for probate of WILL.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Inheritance, probate of WILL and Succession. During these hard times of Covid-19 where many of us have lost loved ones, the team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, Probate of WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

Easy to Understand: Probate of Will and Succession Certificate

August 29, 2021/in Blog /by legal-web-admin

Probate of Will and Succession Certificate, both granted by the competent Courts, are of absolute necessity and recommended, especially in the scenario when a deceased person’s estate needs to be distributed by way of Will or by way of Natural Succession. Probate is granted when the deceased person has left a Will. However, the Succession Certificate is granted in both cases, with or without Will.

Requirement of Probate of Will:

Getting the Will probated after the death of the testator, i.e. the person who has written the Will, should be the foremost step that should be taken by the Executor of the Will as it holds utmost importance under many scenarios. Probate of the Will signifies the authenticity and genuinity of the Will made by the testator during his lifetime. In other words, Probate of Will is only a certificate granted by the Court of competent jurisdiction certifying that the Will of the deceased is genuine and valid. In the Will, an Executor is appointed responsible for probating the Will and then distributing and managing the assets as per the testator’s wishes as mentioned in the Will.

If a person is an NRI or an Indian Expat and dies leaving behind a Will abroad bequeathing his movable assets in India favouring his legal heirs, the said Will has to be probated in the said country where the NRI or the Indian Expat lived before his death. Only after the Probation of his/her Will from the Probate Court, the said Will is applicable in India. The beneficiaries can claim the financial assets based on the Will made abroad. A Will that has not been probated abroad has no legal sanctity in India.

Probate is legitimate evidence of delegate title and holds great sanctity. There are some cases where the testator had made more than one Wills, or one beneficiary does not admit the existence of Will and may challenge its authenticity. In such circumstances, the Executor of the Will is required to apply for Probate of Will to ascertain Will’s validity and vesting rights in favour of beneficiaries named in the Will. Many of the future works such as Mutation i.e. name of change in the records of the concerned authority, etc. requires getting the Will probated.

Requirement of Succession Certificate:

The Petition for Grant of Succession Certificate can be filed in both cases, with or without the Will. When a person dies intestate, i.e. without making any Will, his legal representatives have to approach the Competent Court for claiming the financial/ movable assets left by the deceased. In simple words, legal heirs can establish a claim over financial/ movable assets like bank deposits, Fixed Deposits, Provident Funds, equity shares, loans, insurance policies or LIC or any other security after obtaining the Succession Certificate from the competent court. The Succession Certificate acts as an assurance of title that helps recover assets and debts due toward the person who is no more and accordingly shields the deceased moneylender from the financial loss.

The individual in whose favour the Succession Certificate is granted can get interest or profits on the movable properties and also receives the right to deal with the same in any manner. The Succession Certificate also implies that its holder now has complete hold over the movable assets of the deceased.

The Succession Certificate is an essential proof of title/ authority, when a person doesn’t make a will, and he/she pass away. Through a succession certificate, the successors of that person can claim their right on the financial/ movable assets.

As far as the jurisdiction is concerned, the District Judge is empowered to grant the Succession Certificate under whose jurisdiction the person who expired had ordinarily resided. In the absence of permanent residence of the deceased, the Succession Certificate can be filed in the jurisdiction of the District Judge where any property belonging to the deceased may be found.

In the Succession certificate, information regarding the person’s death, his/ her surviving representatives who are entitled to claim the movable assets, list of securities, debt, and assets are mentioned. This connotes that the Certificate holder has acquired legitimate authority over the movable assets of the deceased. The Succession certificate is valid and applicable throughout the country. The Court should duly stamp the Certificate for its use and applicability.

LEGAL ASSIST is a premier global legal management firm and India’s leading legal firm in the field of Inheritance, probate of Will and Succession. During these hard times of Covid-19 where many of us have lost loved ones, the team of Legal Assist steps forward to provide a range of services to resolve property issues related to the following – Title Search, Transfer of Property, Property Documentation and Registration, WILL, Succession Certificate, Surviving Member Certificate, Freehold Conversion, Mutation, Estate Planning. Besides these, we can help you find solutions to any dispute related to property. Feel free to reach us any time!

Debt Recovery in India: The Legal Framework

August 20, 2021/in Blog /by legal-web-admin

When debt cannot be recovered, it turns into bad debt. Normally, in “Debt Collection” the creditor tries to recover consumer credit and loans/ receivables that have not been paid back and in “Debt Recovery” the creditor hires a third party to recover such debt/ receivables when it goes unpaid for a substantially longer time period. Many times there is a security given by the borrower to the creditor, however when that security becomes unusable to pay back the complete debt, recovery becomes important.

There are various legal as well as non-legal methods to recover a debt/ receivable. The non-legal ways include personal contact with the borrower or sending agents to recover the money, etc.

The legal ways include:

1) Civil Remedy: A civil suit can be filed in any Court which has the appropriate jurisdiction by any aggrieved party against the defaulter party.

2) Criminal Remedy: FIR can be lodged in the local police station that can take cognizance of the matter in serious cases. After this, a criminal case can be filed to carry on the legal proceedings.

3) Arbitration, Mediation, and Conciliation: These are efficient and quick ways to amicably resolve recovery disputes outside the Court but within the legal framework.

The laws that govern the debt recovery in India are:

1) Indian Contract Act 1872: Dishonoring of contract represents the majority of debt recovery cases in India. Section 17, 18, 124, 126 and 73 can be invoked for varied reasons like misrepresentation, fraud, compensation for breach of contract, etc.

2) The Indian Penal Code: Criminal breach of trust under section 405 and 406, cheating and dishonest misappropriation of property are some grounds that are available for any aggrieved party to approach the Court under the penal law.

3) RDDBFI Act: If the aggrieved party is a financial institution, bank or even a private finance company, this Act provides for the establishment of various Tribunals to look into debt recovery cases.

4) SARFAESI Act: The Act is enacted with the objective to regulate securitization and reconstruction of financial assets. Establishment of Asset Reconstruction Companies is also one of the unique provisions of this Act.

5) Negotiable Instruments Act: Instances like section 138 for the dishonor of cheques, a legal notice is first issued under this Act and later the proceedings are initiated. These proceedings are criminal in nature.

6) Arbitration Act: When the parties expressly insert an arbitration clause or decide to adopt arbitration as means of resolving the dispute, then in such cases arbitration process can be invoked.

7) Insolvency Act: When the defaulter is a firm, the parties can invoke the insolvency proceedings against the defaulter under this recent Act.

Legal Assist is a premier global debt recovery firm effectively handling accounts of any size, in any stage of delinquency – from a few days to many months across the globe. Our team is at your service, all the time and through all crisis. Trust us to be there to make your businesses easier and smoother and your investments secured.

Guide on Procedure before Sub-Registrar Office for registration of property documents

May 18, 2021/in Blog /by legal-web-admin

Process Flow diagram for Property Deed Registrar in e-Sub Registrar Offices in Delhi

STEPS FOR REGISTRATION

1. Please get your e-stamp paper of correct value prepared by visiting the nearest Stock Holding Corporation of India Ltd.(SHCIL) centre or their Authorised Collection Centre(ACC). The address of nearest SHCIL/ACCs can be checked on the website www.shcilestamp.com .

2. Please take appointment for visit to Sub-Registrar office on website of the Revenue Department (http://revenue.delhi.gov.in) or by approaching the Reception Desk/kiosk at the Sub-Registrar Office.

3. Please visit Reception at the appointed date & time alongwith your Appointment Slip/sms received in you mobile confirming the appointment/ computer generated appointment no. as reference.

4. Please obtain your Swipe Card from Reception to enter Facilitation Center. Loss of Swipe Card may result in denial of access to Sub Registrar office.

5. Please visit the Facilitation Counter in the hall when your token number is displayed on the screen.

6. Please present your documents to Facilitator. Follow strictly the suggestion of Facilitator if certain changes are required in your documents. Upon clearance by Facilitator, please wait for your turn for presentation before Sub-Registrar along with all the parties required to be present.

7. Upon acceptance by Sub-Registrar please proceed to the Biometric Division for finger printing & photographs. Collect your Receipt on completion of registration process.

8. Please exit from the Exit door using your Swipe Card. Drop the Swipe Card at designated place only.

9. Delivery of documents will be between 3 pm to 5 pm at Delivery Counter only.