Saturday, May 04, 2013

Will

Will is a document that can be revoked, modified or substituted by the person executing it at any point of time during his lifetime.
The will can be executed even on plain paper.
Registration of a will is not compulsory.
Once a will is registered it becomes a strong legal evidence.
The will has to be in writing and has to state that the person executing it is making it out of his own free will and in a sound disposing state of mind. 
Only Muslims are allowed to make “Oral Will”.
Will must be signed by the executor and has to be attested by at least 2 witnesses.
No stamp duty is payable on a will.
While registering the will the witnesses have to sign the register, maintained in the office of the sub-registrar.
The ‘Will’ be registered with that sub-registrar who has jurisdiction over the residence of the executor.
A will can be handed over to the registrar for safe custody.
A minor can’t make a will.
For a will to be valid a legatee; who is the beneficiary, should not be a witness.
Indian Succession Act 1925, clearly states that any clause that bequest a property on the witness is void.
Only last will, executed before the death of the testator is enforceable.

© Copyright 2013, Shreerang Ketkar, All rights reserved.

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