The grantor, also known as the person who created the trust, is responsible for transferring assets into the trust during their lifetime. Upon the grantor’s passing, the trust becomes the beneficiary of any assets that were put into the trust. Real estate and other types of property, both tangible and intangible, such as a bank…
A child born out of wedlock is considered as illegitimate child as the relationship of the parents determines the legitimacy of the children. Therefore, an illegitimate child is considered to be nullis filius which basically means having no legal relationship with his or her parents. The laws for legitimate child and illegitimate child are very…
Introduction “Karl Polanyi referred to labour as a fictitious good. Even more troublesome is land. Land is nothing more than abstract thought portrayed as a continuum of competing dreams. How is it possible for a varied group of dreamers to share a same value about land? In India, the term “land acquisition” refers to the…
Introduction: For an organization to function efficiently and adhere to the statutory requirements, it is essential to maintain certain records and registers. Maintaining such records and registers are important for fulfilling statutory, disclosure, statistical, MIS purposes. Maintaining such records helps in ensuring that the operations of an organization are systematic. Companies Act, 2013 requires every…
INTRODUCTION: Collector’s properties are often distributed on a 99-year leasehold basis. The people who live in such leasehold premises are referred to as Class II occupants. As Class I owners of freehold homes, these residents’ rights are restricted. The owner needs the collector’s approval before they can rent, lease, gift, or sell the item. The…
INTRODUCTION: India is a vast nation where many various religions and faiths are followed. They are subject to various personal laws. The majority of Hindus are also subject to a different set of personal rules regarding domestic matters including succession, marriage, and divorce. A Hindu man can start a HUF as soon as he gets…
The Latin root of the word “illegitimacy” means “not in conformity with the law.” Since the relationship between the parents determines the children’s legality, a child born out of wedlock is regarded as an illegitimate child. As a result, an illegitimate kid is referred to as being “nullis filius,” which simply implies that they have…
An English Mortgage is defined under Section 58 of the Transfer of Property Act 1882. Introduction: What is an English Mortgage? English mortgage is basically a type of mortgage wherein, the mortgagor(borrower) gives the rights of property to the mortgagee (lender) in case of payment default or repayment failure. In…
Real estate investing even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth. INTRODUCTION What is commercial property? Property purchased for residential purposes is referred to as residential property, whereas property utilised for commercial purposes is referred to as commercial property. It is seen as…
A no objection certificate or NOC is a very important document that establishes the legality of a particular transaction. INTRODUCTION What is a No Objection Certificate? A No Objection Certificate (NOC) is a document granting consent for the purchase or construction of property to a person or a company. Applicants must get a No Objection…
