LAW BOOK

HT Estates - - HTESTATES - Su­nil Tyagi

I am a 65-year-old man. I had ex­e­cuted a will in 2005 and be­queathed all my prop­er­ties to my heirs. The will was duly ex­e­cuted and reg­is­tered with the of­fice of the con­cerned sub-reg­is­trar. I have ac­quired cer­tain new prop­er­ties after 2005 which I now wish to hand over to my heirs. Do I need to ex­e­cute a new will or make changes in the old will? Please ad­vise

— Shankar Mans­ingh If you wish to make some mi­nor changes to an ear­lier will, you may write a cod­i­cil to the will. The cod­i­cil should clearly pro­vide a ref­er­ence date and other de­tails of the ear­lier will that you now wish to mod­ify. It should also clearly state which por­tion of the ear­lier will you wish to amend and to what ex­tent. A cod­i­cil will also have to abide by the same le­gal re­quire­ments as the ex­e­cu­tion of the will.

I have en­tered into an agree­ment to pur­chase a house from two broth­ers who have equal and un­di­vided share in the house. There is a fam­ily feud that has en­sued among the broth­ers and they do not seem to agree on any­thing. One of the broth­ers is will­ing to sell his share but the other one is not. What are the op­tions be­fore me as the date of the fi­nal pay­ment is near­ing soon?

— Alakrit Ghosh In this sce­nario, you can seek spe­cific per­for­mance of the agree­ment to sell/ con­tract against the sell- ers by ap­proach­ing the ap­pro­pri­ate court. If you do not wish to pur­chase the house then you can claim dam­ages from the sellers for non-ful­fil­ment of their obli­ga­tions, pro­vided the same has been in­cor­po­rated in the agree­ment to sell.

What is the rate of stamp duty and reg­is­tra­tion fee payable for a gift of im­move­able prop­erty in Delhi?

— Sargam Shah In Delhi, the duty rate payable on a gift deed of an im­move­able prop­erty which is gifted in favour of a woman is 4% of the to­tal value of the gifted prop­erty (out of which 2% is for stamp duty and 2% for cor­po­ra­tion tax).

Whereas duty rate payable on a gift deed of an im­move­able prop­erty gifted in favour of a man is 6% of its to­tal value (3% for stamp duty and 3% for cor­po­ra­tion tax).

Cur­rently, the reg­is­tra­tion fee for a gift deed of an im­move­able prop­erty in Delhi is 1% of the to­tal value of the gifted prop­erty.

IS­TOCK

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