I am planning to write a will for bequeathing all my properties to my only daughter. As she is the sole beneficiary under my will, can I also name her as the executor of the will?
— Vaibhav Sharma Yes, you may appoint your daughter as the executor and also name her the sole beneficiary under your will.
I own a retail space in Noida. For the purpose of stamp duty, is it possible to enter into an arrangement where the rent is calculated on a revenue-sharing basis and hence may vary from time to time?
—Ravneet Kaur Yes, under the provisions of Uttar Pradesh Stamp Act, 2008, it is permissible to execute a lease deed where the rent varies by virtue of being calculated on a revenue/profit-sharing arrangement, provided the lease period is not more than 30 years.
I had taken a house on lease five years ago and paid stamp duty and registration fee on the lease deed. The lease deed contains a clause which states that upon expiry of the initial period of five years, I would be entitled to stay in the premises for an additional five years. Do I have to enter into a fresh lease deed?
— Bhavna Rustagi It is not clear whether stamp duty and registration fee on the lease deed has been deposited based on the lease period of five years or 10 years. In case it has been paid on the basis of only the initial five-year term, a fresh lease deed is required. The lease deed should be duly stamped and registered again. However, in case stamp duty and registration fee has been calculated and paid in the first instance for the entire period of 10 years, a fresh lease deed is not required.
I have a property which I purchased entirely out of my own funds. Over the years, I have executed wills on three separate occasions to make changes regarding inheritance of this property. All these wills were also registered. Would making any further changes to my will negatively affect the inheritance in any manner?
—Abhay Bhaskar A will may be revised any number of times and to any extent during one’s lifetime. In your latest will, you may clearly state that it is your intention that the new will should supersede and nullify any/all wills previously executed by you.
My brother and I are planning to invest in a fully constructed residential property. My brother will purchase the ground floor and I will purchase the first floor and terrace area. Who will have the right to keep title documents of the entire property?
- Saroj Sharma
The buyer who is purchasing the portion having greater value will be entitled to receive chain of title documents of the entire property.
The author is a senior partner at Zeus Law, a corporate commercial law firm. One of its areas of specialisation is real estate transactional and litigation work.
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