A Will or Codicil is a legal declaration by which a person, defines the distribution of the property (both Movable as well as immovable) after his demise. A will should be administered by an Executor, to manage the same until its final distribution. Usually, a will is created to avoid conflict among the family members after his/her demise.
The property described in the will can only be transferred in the name of the beneficiaries by filing for a Probate of the same. Our legal team has specialized skills in getting the WILL drafted and in getting the same probated.
An Overview - Best Property Lawyers in India:
- The Indian Succession Act, 1925
- Hindu Personal Laws
- Muslim Personal Laws
- The Indian Registration Act, 1908
A will can be both Registered will as well as Non Registered. It’s a document of critical importance and utmost care is required as to the selection of witnesses and the contents of the same. As there is no prescribed format for making a will, it can be written in any language and does not require any technical jargon. The document should be free from dubious and unambiguous words.
Succession certificate is issued to the successor of a deceased person who has not left a WILL and died INTESTATE. Succession Certificate is a necessary document through which the property (movable as well as immovable) of the deceased person is defined in the name of his legal heirs. The succession certificate defines the rights of legal heirs in the property in the absence of a will or codicil by the deceased.
This certificate authorizes the successor to realize the debts and securities of the deceased person. The objective is to facilitate the collection of debts on succession and offer protection to the parties paying debts to the representatives of the deceased person. This certificate cannot be obtained for the inheritance of immovable property.
Some key points to be kept in mind:
- Succession certificate can be granted even if there is a nomination in the bank accounts, insurance policies, etc.
- Succession certificate is not granted for immovable property
- Succession certificate can be extended, amended in accordance with the applicable law
- Succession certificate can also be canceled in case of fraud and defective proceedings
A Succession certificate is issued by the courts in India. An application for grant of succession certificate should be made before the district judge in the concerned jurisdiction where the deceased person resided at the time of his death. In case the deceased person has no fixed place of residence then the application should be made before the judge where any part of the property of the deceased person is situated.
A succession certificate can be granted to the minor through a guardian of the minor.
Further, the application or petition should mandatorily contain the following details:
- Time and place of the death of a deceased person
- The residence address of the deceased person
- Details of properties of a deceased person
- Details of the family members and relatives
- Rights of the petitioner
- Copy of death certificate
- Details of the debts and securities for which certificate is required
A succession certificate has validity throughout India. If a succession certificate is granted by an Indian Embassy in a foreign country, it should be stamped in accordance with the court fee act 1870 to have the same effect in India as a certificate granted by a court in India.
Power of Attorney:
Power of Attorney is the delegation of authority in writing by which one person is empowered to do an act in the name of the other. The person who acts on behalf of another person by his authority, express or implied, is called an agent and the relation between him and his principal is called agency. Power of Attorney basically a document of convenience where the circumstances require the formal appointment of a trustworthy person to act on the principal’s behalf in a particular transaction or series of transactions. RK Legal Advisors having a team of professional power of attorney NRI lawyers provide you the full consultation regarding POA.
POA is a legal instrument through which one bestows his authority to someone known and trustworthy to carry out some specific financial and legal transactions. The power of attorney provides ease of doing business in one’s absence. This document gives the person a right to act on one’s behalf to carry out various activities as mentioned herewith
- Rent out the property or Lease the property to someone
- Sale or Purchase assets like property, stocks, mutual funds, etc
- Filing of taxes, handling bank accounts, signing cheques, etc.
- Obtain any relevant document from any government department
- Making a complaint to Police or before any other authorities
- Signing complaints, petitions, applications, forms, affidavits, bonds, agreements, etc. and to submit the same under his own signatures
More so, Power of attorney is such a powerful tool that gives a person the right to appear on one’s behalf even in the court of law to file a court case and even appear for cases filed against the principal person.
Types of Power of attorney:
Generally, there are two types of Power of attorney, a General POA and a Special POA. The basic difference between the two is that GPA grants overall powers to a person in whose favor the POA is made whereas SPA is about a specific activity which a POA holder can carry out on behalf of the principal.
Special Power of Attorney:
SPA is a document through which the principal grants Specific Powers to the attorney. In layman’s language, a principal can direct the SPA to act as his legal representative in a particular court case, In such a SPA it is only in that particular court case that the person will be able to represent the principal person. A special Power of attorney is automatic gets revoked once the specific transaction or purpose for which it’s executed is completed.
General Power of Attorney:
A GPA grants a wide range of powers to the appointed person as No specific purpose is mentioned in this document. The principal can decide to exclude some powers specifically so as to restrict the appointed person not to act on those matters. A General Power of attorney remains in force till it is canceled or revoked by the principal or determined by the death of either of the party. If you grant someone a GPA, they can pay your utility bills, collect rent on your behalf, manage and settle disputes, carry out all bank-related work as your representative
GPA is extensively used for sale or purchase of property by NRIs
Registration of Power of Attorney:
As Power of attorney is a legal document, it needs to be drafted in a specified format using legal language specifically mentioning the basic objectives, responsibilities, and duties that a principal wishes to authorize the appointee to carry out on your behalf. For this document to be valid, it has to be duly signed by you and Notarized by Notary Public. Further, it must be executed and registered at the Sub- Registrar’s office.
Power of Attorney by NRIs:
The power of attorney acts as a boon for NRIs who cannot travel to India frequently and need someone to take care of their properties and assets in India. POA is a tool of convenience used by NRIs for the sale and purchase of their property in India. As POA involves legal and financial transactions, measures and precautions should be taken to avoid any kind of fraudulent activity. A person living abroad (NRI) has to get the POA Notarized by Notary Public from the country of origin and then get the same endorsed from the Indian embassy/consulate in the country of origin. He/she also has to get a copy of his passport attested by the notary public and also the copies of the Passport of the attesting Witnesses along with POA before he sends the same to India. Once the Power of attorney document reaches India, the same needs to be endorsed by the concerned revenue department to make it a valid document The power of attorney is a crucial legal document that needs meticulous drafting and adherence to avoid any kind of conflict and harassment at a later stage. Our Team at RK Legal Advisors has been guiding our NRI clients in understanding the importance of Power of Attorney and step by step procedures of Notarization and Attestation from the Indian embassy in their country of residence. Any NRI wants some legal advice regarding power of attorney then our professional power of attorney lawyers provide you the best consultation regarding your case.