Can I get the house redevelopment agreement done in my absence?

Name withheld on request

Since you are traveling at the time of execution and registration of development agreement, it will not be possible for you to be physically present.

However, in the present scenario you can execute a Limited Power of Attorney in favor of your daughter. The Power of Attorney can only have limited powers allowing your daughter to execute the Development Agreement and/or any document executed thereunder and register the Development Agreement and/or any document executed thereunder.

The power of attorney given by you in favor of your daughter can be stamped 500 and has to be registered with the Sub-Registrar of Assurances.

I am a 40 year old married man with two children. I am planning to make a Will and distribute my assets. However, I may acquire more properties in future. How do I cover this in my current will?

Name withheld on request

The Will to be prepared by you and/or your advisor will relate to the properties (both movable and immovable) owned by you at the time of making the Will. However, it is important to include a residuary clause in your will. A residuary clause specifically instructs how and to whom to transfer property not specifically stated in the will.

The residuary clause will instruct the executor of your will to transfer any remaining property that is not part of the current will to a named residuary beneficiary.

It is essential to include a residuary clause in a will to avoid confusion among your heirs/beneficiaries about what should be done with property not included in the will.

Hemang Parekh is partner and Mitali Naik is associate partner at DSK Legal