Inheritance and Partition

One number the whole family can accept

Most inheritance disputes are not really about the property. They are about two brothers holding two different figures, each got from a friendly broker, several lakh apart. A valuation from a registered valuer with the working shown gives everybody the same starting point and takes the argument off the table.

What it is used for

• Selling and splitting. The proceeds divide by share, and each heir is taxed on their own portion.
• One heir buying the others out. The report sets the price nobody has to concede.
• Partition. Where a property is physically divided, the relative value of each portion matters more than the total.
• Establishing cost for tax. Each heir inherits the original owner's purchase date and cost, so the 1 April 2001 rule usually applies.

The point people get wrong

The holding period does not restart when you inherit. You step into the shoes of the person you inherited from, which is what makes the gain long term and unlocks the 2001 cost substitution. Inheriting is not itself a taxable event in India. The tax question arises on sale.

One report serves everyone

Three siblings do not need three valuations. One report, addressed appropriately, covers the whole family and each heir's share is a proportion of it. Worth knowing before three separate fees are paid.

Documents

• The original purchase deed of the deceased, where it exists.
• Death certificate.
• Will, or succession or legal heir certificate where there is none.
• Mutation records.
• Details of who is in possession.

When heirs are in different countries

Usual, in our files. We deal with whoever engaged us, send the report to everyone who needs it, and convert to your currency where that helps. Where an heir abroad needs the figure for their own tax filing, say so at the outset, because that may need a different valuation date as well.

Where we stop

We value. We do not adjudicate shares, interpret the will, or take a side between heirs. If the family is in dispute, the report is neutral evidence and nothing more, which is exactly what makes it useful.

What you get

A signed report from a government approved valuer, based on a real inspection, with the workings shown so the person reading it can follow how the figure was reached. Our registration number is printed on it. If anyone questions it later, the evidence is already in the file.

• An inspection that actually happened. Our engineer stands at the property. Every photograph carries the date, the time and the exact position.
• Comparable evidence, named. Real sales from the relevant area and the relevant period, identified so anyone can check them.
• Method stated openly. Which approach we used and why, with the adjustments set out rather than buried.
• The right date. A valuation is always as at a date. Get the date wrong and the number is useless even if the work is perfect.
• Currency where you need it. Rupees for the Indian side, converted for your side, with the exchange rate and its source stated.

How long it takes

Normally 48 to 72 hours from the site visit, once we have the basic papers. If it is urgent, tell us and we will treat it that way. For anything tied to a sale, start before you sign the agreement rather than after, because some of the biggest savings are only available in advance.

What it costs

It depends on the property type, its size and how far our engineer has to travel. Message us with the basic details and you get a firm figure before any work starts. No surprises later, and five percent off your first report.

What if the papers are missing

Very common, and usually not a problem. A deed from 1974 may simply not exist in the family any more. Records at the sub registrar office, property tax records and the notified rates for the area can normally fill the gap. Tell us what you do have and we will tell you straight away whether it is workable.

Questions people ask

Is inheriting property taxable in India?

No. Receiving property by will or succession is not itself taxed in India and there is no estate duty. The tax question arises when you sell.

Do three heirs need three valuations?

No. One report serves the whole family, and each heir's share is a proportion of it. Each heir is then taxed on their own portion when it is sold.

What if the original deed is missing?

That is common. Certified copies come from the sub registrar office, and the 2001 value rests on notified rates and comparable transactions rather than on family papers.