What happens to a residential property in Thane whose owner passes away without a will?

The term "intestate" refers to a person who dies without a will. If this occurs, none of the potential heirs has any influence on who inherits the property (the assets and property). The estate enters probate (Court Procedure) when there is no will.

According to the Hindu Succession Act, If a man dies intestate,i.e without leaving a will, his assets are allocated and the property is passed on to the deceased`s legal heirs. When a deceased individual does not leave a final will and testament, an heir is a person who is legally entitled to receive an inheritance. Children, descendants, and other close relatives of the decedent are usually the heirs who inherit the property.

Effective succession planning is critical to ensuring that your hard-earned money reaches the people you desire to give it to. This is especially important in the case of immovable residential property in Thane, such as flats, apartments, and land, because transferring such assets is a time-consuming and expensive process that requires a lot of paperwork, legal jargon, and tax implications.

For example, flat owners are bound by state cooperative norms that provide for the nomination of the house in the event of death. A nomination, on the other hand, is not the same as a will that transfers property.

Will-based Succession for a Residential Property in Thane

• To guarantee that the property division is as seamless as possible, the owner must prepare a will during his lifetime, consult with a lawyer, and have it documented.
• Through the execution of a will, those who are entitled to the Hindu Succession Act can leave their property to anyone, including family members.
• For residential property in Thane, Mumbai, Kolkata, or Chennai, the executor of the will must seek probate (certification) from the court.

Succession without a will for a Residential Property in Thane

If a property owner dies without leaving a will, his or her legal heirs will inherit the assets in the authorized sequence under the Hindu Succession Act, 1956.

• Class-I legal heirs, such as parents, spouses, children, and their successors, are given first priority.
• Sons and daughters, as well as parents, shall have equal shares in their respective shares.
• A spouse will be entitled to one share as well, although an application to a magistrate or a high court is required.
• If there are multiple surviving spouses, they will all split the one proportion to which they are entitled.
• Their successors will also receive only one share, as did the individual through whom the claims have been made for that residential property in Thane.

When a house is left without a will, a female heir has the right to claim a piece of the property and live there. However, only the male successor has the right to partition the estate, while the female heir has no such power. Even if a will is left, the legal heirs must still get a succession certificate from the court.

It`s a legal process of giving the person or people the authority to collect debts and securities owed to him or payable in his name on behalf of the deceased person. An application to a magistrate or a high court is required in order to receive a succession certificate.

Needless to say, having a will prevents a lot of issues and ensures that property is passed on to the right individuals in a timely manner.

Hindu Succession Act 1965

The Hindu Succession Act of 1956 governs Hindus (including Buddhists, Jains, and Sikhs). The Indian Succession Act of 1925 governs the rest of the Indian population.

If a person dies intestate, his property passes to his Class I heirs, according to the Hindu Succession Act of 1965. If there are no Class I heirs, the property will be assigned to Class II heirs. If both the Class I and Class II heirs die, the property will be transferred to Agnates. In the absence of Agnates, the estate is passed to Cognates.

Class I heirs

• Widow
• Son/daughter
• Mother
• Son/daughter of a predeceased son
• Son/daughter of a predeceased daughter
• Widow of a predeceased son
• Son/daughter of predeceased son of a predeceased son

Class II heirs

• Parents
• Siblings
• Children of siblings
• Grandchildren of siblings

Agnates

• Distant relatives of male lineage
• In the absence of Agnates, the estate is passed to Cognates.

Cognates

• Distant blood relatives of male and female lineage

If the decedent does not have any of the specified relations, the property is given to the state government.

Division of Residential Property in Thane in case the deceased is unmarried

If the deceased person is unmarried, the property would be distributed between his or her parents. The surviving parent would receive the property rights if one of the parents died. If both parents pass away unexpectedly, the estate will be shared evenly among the deceased`s siblings. If there are no living parents, siblings, or sibling`s descendants, the assets will be divided equally among the agnates.

If the deceased were a single parent with children, his or her estate would be shared evenly among the children. If one of the children dies, the property will be distributed among the grandchildren.

Division of Residential Property in Thane in case of unmarried couples

Property succession in Hindu law does not apply to unmarried partners living together. Only married spouses and their families are recognised as official inheritors under the intestacy legislation. Unless there is a will specifically indicating the deceased`s intentions, an unmarried partner does not inherit anything from the deceased`s property.

What happens to the residential property in Thane if the owner passes away with no heirs?

If there is no surviving spouse or descendants, intestacy law normally requires the property to be allocated to the closest living relative as per the Table of Consanguinity. If a person dies intestate and leaves no heirs, the residential property in Thane may escheat to the state.

It`s worth noting that the nomination only adds the nominee`s name to the housing society`s records, it doesn`t make the nominee a full-fledged property owner. The property`s beneficial owners are the legal heirs, and the nominee is not permitted to sell it for personal benefit. Whether or not a deceased individual left a will determines the legislation controlling property succession.