Tuesday, November 21, 2006

Inheritance of properties

What is the legal rights of a father over an ancestral property? Does the son has more rights? What if the son sues the father for the property; who will get what proportion (apart from what the legal system eats up)? Who is responsible to a loan taken by the father and he passes away? Will the loan offer can only contact the cosignatories or also the legal heirs? As the girls are legally entitled to inherit properties, will they take a share of debt, if asked to?

Along with discussion, I shared a 'smart' father's decision which I happened to hear else where.A father had traditional mind set and wants to beat the new law permitting women to inherit. Hence he made his two daughters sign in legal papers stating that they will not claim for the property. He threaten them not to do so after marriage. He had also prepared a will for allowing his brother's sons to enjoy the properties after his death.

Just wondering how his last days would be. High probability is that his nephews would kick him out. His daughters may not be able to support him as their husbands/in-laws will be angry at not passing the wealth to the daughters.

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