NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
UNDERSTANDING ESSENTIAL ELEMENTS OF CONTRACT Meaning of Contract: A contract is defined as an agreement enforceable by law. An agreement that is not enforceable by law is not considered a contract. Essential Elements of a Valid Contract Section 10 of the Indian Contract Act, 1872 provides that “all agreements are contracts if they are made […]
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UNDERSTANDING VARIOUS CLASSES OF HEIRS AS PER HINDU SUCCESSION ACT, 1956 Intestate Succession The Hindu Succession Act, 1956, was passed to amend and consolidate the law relating to intestate succession among Hindus. It extends and applies to all persons, who practice the religion or who are defined as Hindus (Hindus, Buddhists, Jains, and Sikhs) under
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UNDERSTANDING AGNATES, COGNATES, AND COLLATERALS AS PER HINDU SUCCESSION ACT, 1956 Under the Hindu Succession Act, 1956, the terms Agnates, Cognates, and Collaterals refer to different categories of relatives that are used to determine the order of inheritance. Agnates: Relatives connected solely through male lineage. They have the highest priority for inheritance under Hindu law.
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UNDERSTANDING VARIOUS BLOOD RELATIONS AS PER HINDU SUCCESSION ACT, 1956 The Hindu Succession Act, 1956, outlines the rules for inheritance and succession among Hindus. In terms of blood relations, it categorizes them into different degrees, and these are essential for determining inheritance rights. Full Blood: Relatives who share both parents with the deceased and have
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LIST OF REGISTERED VALUERS IN INCOME TAX DEPARTMENT IN CHENNAI UPTO 23/05/2023 CLICK HERE TO READ FULL LIST
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MAINTENANCE TO WIFE In India, maintenance, or alimony, is a right that either spouse can exercise if they can prove they are unable to support themselves financially. It’s a financial support that covers basic necessities like food, clothing, and shelter, as well as other needs to lead a normal life. The amount of maintenance is
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SALIENT FEATURES OF THE TRANSFER OF PROPERTY ACT, 1882 • The transfer of property act, 1882 provides a uniform and a clear law concerning the transfer of movable property from one living person to another living person by the act of parties. • The Transfer of Property Act, 1882 is an extension of the Indian
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UNREGISTERED AGREEMENT TO SELL CAN STILL BE ADMITTED AS EVIDENCE: SC The Registration Act, 1908 (Registration Act) plays an important role when it comes to dealing with and managing information related to land and immovable property. Section 17(1) of the Registration Act provides for mandatory registration of certain documents. This mandatory registration safeguards the interests
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STAGES OF CHEQUE BOUNCE CASE–STEP BY-STEP 1. ISSUING A LEGAL NOTICE:- The first is issuing a legal notice to the defaulter (Drawer of Cheque). According to Section 138 of the Negotiable Instruments Act, 1881, the holder of the bounced cheque must send a legal notice to the drawer of the dishonored cheque within 30 days
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MCQ-HYPOTHETICAL PLOTTING SCHEME FOR VALUE OF LARGE SIZE LAND 1. What is the primary purpose of a hypothetical plotting scheme? a) To determine the most efficient land use b) To determine the legal ownership of land c) To calculate property taxes d) To estimate the cost of construction Answer: a) To determine the most efficient
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INTEGRATING MARKET AND COST APPROACHES IN THE VALUATION OF MIXED-USE PUBLIC BUILDINGS Integrating Market and Cost Approaches in the Valuation of Mixed-Use Public Buildings in India Valuing mixed-use public buildings in India is a complex task that requires a nuanced understanding of various factors. These buildings often serve multiple functions, such as commercial, residential, and
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ASSESSING THE ACCURACY OF MARKET DATA IN LAND VALUATION FOR RESIDENTIAL BUNGALOWS IN INDIA Assessing the Accuracy of Market Data in Land Valuation for Residential Bungalows in India Introduction The accuracy of market data plays a crucial role in the valuation of residential bungalows in India. Accurate data ensures that valuations reflect the true market