Punjab Property? What you should do to protect your wealth - Atwal Financial

The clear advice is to make sure the owner of any residential, agricultural or commercial property in Punjab is outlined in a will in India and the selected beneficiary or beneficiaries noted.

If the property is ancestral and upon the death of the owner, the asset can only be inherited by the immediate family on an equal share footing.

Any property in Punjab including all of the above, can be sold or transferred while the owner is alive. They can also add a joint owner or owners.

It is understood that any beneficiary wherever he or she is a resident can inherit any such asset in Punjab.

It could be argued (most likely beneficial) that transferring the title of any property mentioned above to the intended beneficiary upon the death of the owner, could (should) take place while the owner is still alive assuring that successful succession is concluded. This would avoid any long and lengthy court proceedings as well as potential disputes against any will.

We strongly advise you ask us to carry out a “property health check” to find out the following :

• The true owner of the property
• The type of property
• Present status of the property
• Exact area of the property
• Any legal or financial claim over the property
• The history of ownership of the property

This information-gathering exercise is vital to help uncover any illegal possession or disputes of any property. These proactive steps will also help you organise your documentation to help you prepare for any future event.

Our UK leadership team places a greater emphasis on client service compared to other service providers in India. As a result, we are a preferred support partner in India.

We provide a hands-on approach and act as your local, on-the-ground support partner to protect your interests.

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