Partition deed for movable asset .

ITR Filing 1381 views 4 replies

erdeep

engineer

309 Points Posted on 02 November 2014

dear experts ,

we have 4 brothers including me . after my father death , we partitioned asses among us.

all brothers were interested to take a land , home like immovable asset . i were interested to take cash gold and jewellery . All brothers distributed the asset without any issue .

Now my question is ...

Since i got minimum land ( 5 acre ) , maximum gold ( 20 tola ) and maximum cash ( 5 lacs ) . Will i have to prepare a partition deed and will i have to mention all the things which i have got other than immovable . we had registered immovable partition deed but till now i didnt registered my movable assest like cash and gold . please advice me experts .

Replies (4)

Mihir

Wealth Manager

5293 Points Posted on 02 November 2014

Details regarding the partition of moveable assets should have been mentioned in the partition deed itself. Now you may prepare a release deed, wherein your brothers and as well their legal heirs release their rights on cash and gold in favor of you.

erdeep

engineer

309 Points Posted on 02 November 2014

ok sir...

sir, in my partition deed, movable assets(like cash, gold and silver utensils ) is not mentioned, only agricultural land is mentioned there and partion deed has prepaired 10 year ago,so now can i prepair a release deed now (suggested by you) in which i will mention movable asset what i had received in partition.?

Mihir

Wealth Manager

5293 Points Posted on 03 November 2014

Yes, you may also prepare an affidavit stating that your brothers and their legal heirs have no more rights on the gold and cash which was given to you 10 years ago at the time of partition.