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How to liquidate the immovable property after probation of will
15-Sep-2023 (In Wills / Trusts Law)
sir, My father made a registered will in 1994 and expired in 1996. He kept the neighbour as a Executor and the beneficiary were not the legal heirs but the two trusts working for society and school For some reason the Executor was delaying the probate procedure. Now after so many years of court cases with the help of one of the trust the legal heir could get the probate (letters of administration) who is supposed to liquidate the estate as per the will and distribute among the beneficiaries. Now please let us know that to Liquidate the immovable property whether administrator(legal heir) need to again take the judges order for sale of immovable property. Or the Letters of administration from high court itself gives that right to sale the property. Regards Mrs. Chavan
The executor can transfer the property as per the will to the beneficiary named under the will under an agreement known as transfer deed which should be registered. Stamp duty is 200 or 500 rupees in Maharashtra and registration fee is 1000 rupees. Once it is done property would vest in favour of beneficiaries.
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