Can Adopted Child Claim Right In Biological Father’s Property?

0
Can Adopted Child Claim Right In Biological Father’s Property?

Mumbai-resident Nandgopal Radhakrishnan had three sons, Nikhil, Anay and Vivek and a daughter, Manjula. Since his best friend Ashok Kumar was childless, he decided to give his eldest son Nikhil in adoption. In the course of time, Radhakrishnan’s two sons passed away and he married off his daughter.

When it was time for Radhakrishnan to give his moveable and immoveable assets to his only daughter, Nikhil threw spanner in the works to claim his share. He filed a partition suit but lost the case. MakaaniQ tells you why Nikhil’s contention didn’t hold much water.

According to Hindu Adoptions and Maintenance Act, 1956, after adoption, the adopted son/daughter lose all the rights of a son/daughter in their biological family, including the right to claim any share in the estate of the biological father or relations, or any stake in the coparcenary property. The only exception where an adopted child is not entitled to the full rights of a biological child in the adoptive family were if he/she was adopted by a disqualified heir.

The child is entitled to inherit from his adoptive father and other lineal descendants, like a biological heir. At the same time, the adoptive father and his relations too are entitled to inherit from the adopted boy. A child can only be adopted if he/she is Hindu, not previously adopted, unmarried and has not turned fifteen yet.

The property rights of an adopted son/daughter are limited only to inherit the property of his/her adoptive parents. But, at the same time, if the natural parents want to give their property to their natural child, they may do it by way of gift or will.
Thus, it can be inferred that for all intents and purposes, the adopted child is treated like a biological child into the family into which he/she has been adopted and is considered the descendant of the family.

How to Decide to Rent and Buy a House

2
How to Decide to Rent and Buy a House

Fools build houses, and wise men live in them’. This British proverb is often used in arguments against buying a house. Investing in a house is a very important decision, as the amount needed takes up almost all of one’s savings. In my opinion, the question should be: ‘When should you buy a house and when should you stay in a rented accommodation?’ rather than arguing about the rationality of owning a house.

Why and when should you stay in a rented house?

Banks, normally, do not give more than 80% of a property’s cost as home loan, while the buyer needs to shell out the balance 20% of the margin money, from one’s own funds. Looking at the prevailing cost of residential houses in cities, you have no option but to stay in a rented house, till you are able to save enough to fund the margin money.

If you are an employee who has been posted in a place for a short duration, or you are working in a place where you do not intend to settle, renting a house makes better sense, until you decide on the city where you intend to settle. Real estate transactions have some costs that cannot be recovered, like stamp duty, registration charges and brokerage for sale and purchase of the house.

See also: 

The size of your family will also affect your decision. You may need a bigger house, in case you are planning to expand your family. In case you have enough margin money and have already decided to buy a house, but you are unsure about the locality, then, you could take a house on lease in that locality to experience the stay, before making a commitment.

Why and when should you buy a house?

It is definitely a good idea, to own a house. So, in case you are able to arrange the margin money and are confident that you will be able to service your home loan, you should buy the house. However, even if you have sufficient funds, you should take into account, whether you intend to stay in the same locality or the city.

To base your decision to buy a house merely on the cost-benefit analysis of rental versus cost of funding the house, does not make sense because the rentals generally vary from 2% to 4% of the capital value of the house, whereas, the cost of borrowing is generally around 10% for home loans, thus, leaving a gap of 8%. Nevertheless, this comparison does not reveal other tangible and intangible benefits of owning a house.

You should never defer the purchase of your first house, in the expectation of a correction in prices. This is evident from the fact that everyone has been expecting a major price correction for the last five years. People who postponed their decision to buy a house, have probably missed the bus for good. Over the long-term period, property prices on an average increase by around 9%. You should take this appreciation into account, while doing the overall cost-benefit analysis. Owning a house also provides a certain mental and psychological satisfaction and creates a sense of security.

Documents To Check To Avoid Property Fraud

0

With our lifetime savings, we all plan to buy our dream home. While the cost of the property and the means to fund it are important, it is equally critical that you don’t end up becoming the victim of a fraud. Hence, it is essential to know which documents need to be checked when you buy a property.

Sale deed

This is the core legal document, a proof of sale as well as the transfer of ownership from the seller to you. A sale deed should be registered, apart from ensuring that the property has a clear title.

Mother deed

This is the parent legal document which helps trace the antecedent ownership of the property. You will need this document to sell your property in future. One has to ensure that the mother deed has recorded the references to previous ownerships in a continuing sequence until the current owner.

Approval plan of your building

A property owner must obtain an approval plan either from the jurisdictional commissioner or any other officer authorised by the commissioner. To obtain a building approval plan, one has to submit the following documents. These include:

Title deed

City/panchayat survey sketch

Latest tax receipts

Foundation certificate

Land-use certificate

Property assessment extract

Property PID number

Earlier sanctioned plans

Drawings of the property

Conversion certificate

As a large part of the land in India is still farmland. This is why revenue authorities issue a conversion certificate, stating the change in land use from agricultural to housing. A no-objection certificate should be obtained from the tehsildar’s office for this conversion.

Encumbrance certificate

This means a change in the ownership on property that has been held against a home loan. In other words, this document will give you proof of mortgages, title transfers or any legally registered transaction against your property.

Power of attorney

A power of attorney is a document that legally given an authority to an individual to rent, sell or mortgage the property on his behalf. But, this document, too, should be registered.

Tax receipts

Take a detailed look at all the receipts to ensure that taxes have been paid until the date of sale. Ask for the latest original receipts in order to establish the credentials of the owner. If your seller does not have the tax receipts, you can contact the municipal body by using survey number of the property in order to confirm the ownership. Other regular bills such as water and electricity bills should also be checked.

Completion certificate

A completion certificate by municipal authorities states that a building is in compliance with the rules and is built according to approved plans.

Occupancy certificate

To ensure that the building is meeting all the required norms, an inspection will be performed by the authorities when the developer applies for this certificate. In a nutshell, the certificate certifies that the project is ready for occupancy.

It is important to hire a lawyer who will vet all these documents and guide you through the process.

Real estate Basics – What is a Commencement Certificate?

0

A commencement certificate is a document from the local municipal authority that permits the developer to begin construction of the project. The commencement certificate (or CC) is usually granted, only after the developer has met the legal requirements and obtained the relevant sanctions for the building’s plan.

How can a developer obtain a commencement certificate?

Before beginning the construction of a new building or project, the developer must obtain a commencement certificate from the local authorities. Once the developer submits his plan for the project, the municipal authority will begin conducting several preliminary checks, before authorising that the project is fit for commencement. During this time, the developer must be able to provide all the necessary no-objection certificates (NOCs) that are needed to beginning a new construction. He will also need to show proof of having obtained clearances from all the relevant departments, namely, the water department, fire department, sewage department, electricity department, etc.

The commencement certificate is usually issued in two stages – first up to the plinth area and then, for the superstructure. The developer receives the commencement certificate, based on the findings of the inspection by authorities of the town planning and engineering departments. After having obtained all the required licences and sanctions for the project, the developer lays the foundation of the superstructure and builds the boundaries of the project. Under the new RERA guidelines, a valid commencement certificate is a mandatory document, for a project to be considered RERA-approved.

What is the importance of a commencement certificate for a home buyer?

Until a developer receives the commencement certificate for his project, he is not authorised to begin construction on it. Therefore, a home buyer must not invest in a project, if the developer is unable to furnish a valid commencement certificate for it. One must also check whether the commencement certificate obtained by the developer, includes the floor on which he/she wishes to buy a property.

If you were to purchase a property in a project that does not have a valid commencement certificate, you run the risk of being the owner of an illegal property. This not only affects your legal title to the property, but you may also have to pay the necessary fines, for buying a property in an illegal project.

A commencement certificate is as important as an occupancy certificate. It ensures that you are purchasing a property in a project that has fulfilled all requirements. It cements your title over the property and saves you from possible legal troubles in the future.

Request a Call Back

Stay connected

6,408FansLike
125FollowersFollow
434FollowersFollow
814FollowersFollow
0SubscribersSubscribe
Noida,IN
mist
30 ° C
30 °
30 °
89 %
2.6kmh
90 %
Tue
35 °
Wed
35 °
Thu
34 °
Fri
36 °
Sat
36 °

Latest article

Arihant Arden

Live the good life at Arihant Arden

If you are looking for ready-to-move-in property in Greater Noida West, where more than a thousand families are living happily, look no further than...
short sale

7 Secrets About Short Sales You Need To Know Before Making An Offer

Even if you aren’t, and you’re in the market to buy a house, you should know about “short sales”. There’s always a chance that...
Build Up Area

What is Super Built-up Area?

Super built-up area includes the built-up area along with the proportionate area of the common facility spaces such as the lobby, lifts shaft, stairs,...
Govt says 51 lakh Houses Approved under PMAY (Urban) in Three Years

Govt says 51 lakh Houses Approved under PMAY (Urban) in Three Years

The government has sanctioned more than 51 lakh dwelling units under the Pradhan Mantri Awas Yojana (Urban) against the validated demand of 1 crore in last...
What is down payment?

What is Down Payment?

A down payment is a percentage of a credit purchase that is paid in cash before the EMIs of a loan amount start. Down...
What is a Construction-Linked plan?

What is a Construction-Linked plan?

Among the various payment options offered by the builders to attract home buyers, Construction-Linked Plan (CLP) remains the most popular.  The construction-linked plan is a concept...
ATS Happy Trails

ATS Happy Trails, Noida Extension – Luxury 2/3BHK in ATS Homekraft Happy Trails

ATS HomeKraft Infra Pvt. Ltd., a subsidiary company of ATS Infrastructure Ltd. announced latest luxury & affordable residential Homes by the name of "ATS...

Galaxy Blue Sapphire Plaza – Retail Shops & Hyper Market

The Galaxy Blue Sapphire is a recent commercial development by Galaxy Group in Greater Noida West, which is ready to set benchmark of next generation commercial...
Galaxy Blue Sapphire Plaza

Commercial Shops Available At Lowest Price

A significant contribution towards the urbanization of Noida Extension, the Galaxy Group has designed a next generation commercial destination, the Galaxy Blue Sapphire Street...
Arihant Arden, Luxury 2, 3 & 4 BHK Ready to Move Flats in Greater Noida West

Arihant Arden, Luxury 2, 3 & 4 BHK Ready to Move Flats in Greater...

Arihant Arden is the most popular project launched by Arihant Builder. The developer has a legacy of constructing great architectural building which are not...

Request a Call Back