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The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Chapter XLI

Title: Licitation

State: Goa

Year: 2016

CHAPTER XLI Licitation

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 430

Title: Licitation defined.—

State: Goa

Year: 2016

1) Licitation is a family auction in which only heirs and the moiety holder spouse of the estate leaver, or

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 429

Title: When licitation is to be held.—

State: Goa

Year: 2016

1) The licitation shall be held within 30 days from the date the conference is held, if possible. (2) Every licitation

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 427

Title: Licitation of gifted assets.—

State: Goa

Year: 2016

1) When any party applies that assets gifted by the estate leaver be put to licitation, and the donee, irrespective of whether he has to collate or not, object to the gifted thing being

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 426

Title: Licitation of asset which is not susceptible to division without detriment.—

State: Goa

Year: 2016

succession, gift or bequest by the person who leaves the ---83--- inheritance and such co-heir objects to the licitation, then the licitation shall not be held. In this eventuality, the party may apply for a second valuation.

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 428

Title: Licitation of bequeathed assets.—

State: Goa

Year: 2016

1) Where any party applies that the bequeathed assets be put to licitation, the legatee shall be notified to give his say, if any, within three days. (2) If the latter

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 431

Title: When licitation may be annulled.— Where the Court is satisfied that the interest of any party under disability have not

State: Goa

Year: 2016

---85--- during the licitation, the court may within 2 weeks from the date of licitation, after hearing the parties, annul the respective

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 413

Title: Objection to overvaluation, conference, application for licitation.— After the final list is prepared, any of the heirs

State: Goa

Year: 2016

that assets have been overvalued; (b) state whether they wish that all or certain assets be put to licitation; (c) apply that conference of interested parties be convened: ---80--- Provided that where gifted and bequeathed properties are

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Complete Act

State: Goa

Year: 2016

- Final list.- Section412 - Division by metes and bounds.- Section413 - Objection to overvaluation, conference, application for licitation.- After the final list is prepared, any of the heirs Section414 - Who may decide on behalf of

The Goa Succession, Special Notaries and Inventory Proceeding Act, 2012 Section 398

Title: Order of priority and procedure.—

State: Goa

Year: 2016

shares are equal, all those who applied for pre emption, shall be summoned to appear in court for licitation. Minutes of the licitation shall be drawn and the highest bid of each bidder shall be recorded. The