Can you add nominee(s) to your property?

465 votes

Yes, once a property is registered in your name, you become the legal owner of the property. The registration of a property is a legal process that establishes the ownership of the property and transfers the title from the seller to the buyer. As the new owner, you will have the right to possess, use, and enjoy the property. You can also sell, transfer, or mortgage the property as per your wish. 
However, at the time of property registration, you cannot make your parents a nominee to such property. This is because the nomination process is applicable only to movable assets such as bank accounts, insurance policies, and shares, and not to immovable assets like property.

But as per the Indian Succession Act, 1925, any person who is competent to contract and is of sound mind can make a will of his or her property, and the will can be made in favour of any person, including parents.
However, it is important to note that making a will is a serious matter, and it is advisable to seek the assistance of a legal professional to ensure that the will is drafted in accordance with the legal requirements and formalities. The will should clearly state the property being bequeathed to the parents and the manner in which it is to be transferred to them.
It is also essential to keep the will in a safe place and inform the concerned family members or the executor appointed in the will about its existence and contents. This will help avoid disputes or legal challenges that may arise after the testator's death.

LawRato LawRato

949 votes

A division bench (two-judge bench) of the Bombay High Court, comprising of Justice Oak and Justice Sayed, recently upheld the rights of successors over nominees. The court stated that the nominees are appointed, to ensure that the subject matter of the nomination is protected, until the legal heirs or legal representatives of the deceased take appropriate steps, such as obtaining probate of the will of the deceased or letters of administration of the estate of the deceased, ..

Advocate Vedashree A LawRato

762 votes

Hi, I have bought a property and I am the sole owner. The property construction is complete and we have been given possession of the same. Registration of the property would be done in next 1-2 months. I wanted to add my parents as nominee so that in case something happens to me, my parents would get the property after me. Can you please let me know, what is the procedure of adding nominee to the property and if its allowed?

Sir,
Once the registration is over your will become to the absolute owner of the said property. In the said registration time your can make nominee of your parents in the same deed. in the said sale deed you cant mention the future transfer clause.

Once after the registration is complete and you will become the absolute owner, then you can execute a a WILL infvour of the property to your parents. This will come into effect only after some thing happen to you and then your parents will both become the absolute right holder.

Advocate M Lakshmikanth Arya LawRato

335 votes

You can either re-register or create a gift deed in your mothers name. In such transactions, it is not necessary to mention the name of the nominee.

Advocate Chikirsha Mohanty LawRato