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how does stake in property work?
03-Aug-2023 (In Property Law)
There is an apartment in Chennai which is registered in the name of two people [a son and a father in that order]. Does this mean that the son and his father hold 50% stake in the property? The property does not have any lien or any loans attached to it. In case of passing away of one of the persons who hold stake, will the other person alive get full rights on the property automatically? or the one who passed away should have a will written mentioning to have his stake inherited to the other person who is still alive? Can the person alive change the registration [in the registration office] to have 100% stake on the property, by producing the death certificate of the other who passed away? Please reply. Thanks!
In the said scenario, son and father own fifty percent of the undivided share in the joint property. On the demise of any one, his fifty percent share will go his legal heirs. If son and/or wants to bequeath the property to any one or more persons then Will is the option. The person who is alive can claim the total property only when there are no legal heirs from the demised person.
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Dr. S. Diraviam Dinesh
Chennai | 500+ Answers
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What is the formula for undivided share of land?
How do you calculate the undivided land share? Calculate the undivided land share using this formula: Total Land Area x Size Of The Individual Apartment / Total Area of All Apartments In The Building. 15-Dec-2022
What is an undivided share of property?
UDS (Undivided Share) is the portion of land owned by the purchaser of a flat in a complex residential on the plot where the entire structure is constructed. Each flat built on the plot will have a portion of land, but there wont be any boundaries.
What is undivided share of land in row house?
UDS, or Undivided Share Land, is the part of land that belongs the owner of a living unit within a building complex. This land share does not have clearly defined boundaries, and each unit on the plot has its own UDS.
How to calculate UDS for villas?
A simple formula is used to determine the amount. Calculated by multiplying total land area by the size of each apartment, and then dividing by the total surface of all the apartments in the project. 1. A car park that is allotted to you is an important asset for the calculation UDS.
hello sir,
only after looking at the registered document, complete details can be given.
from your query with mere assumptions
that they only registered the property without any discrepancies. then both will be having half share in the property.
if one of the party passes away, the legal heirs of the party gets right. assuming if the father dies and he does not have wife and only a son, then the son automatically inherits fathers property through legal heirship. but if the mother is still alive or if there are any siblings, then they have their part in the property.
assuming mother is alive and there is a sister. then if the father passes away, son will hold his half with no prob, but fathers share will be divided into three one for mother one for son and another for daughter and so son will be having 4/6th share and mother1/6th share and sister 1/6th share.
hope I clarified your doubt a bit.
only after looking at the registered document, complete details can be given.
from your query with mere assumptions
that they only registered the property without any discrepancies. then both will be having half share in the property.
if one of the party passes away, the legal heirs of the party gets right. assuming if the father dies and he does not have wife and only a son, then the son automatically inherits fathers property through legal heirship. but if the mother is still alive or if there are any siblings, then they have their part in the property.
assuming mother is alive and there is a sister. then if the father passes away, son will hold his half with no prob, but fathers share will be divided into three one for mother one for son and another for daughter and so son will be having 4/6th share and mother1/6th share and sister 1/6th share.
hope I clarified your doubt a bit.
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Adv. Adhithyan C
Coimbatore | 100+ Answers
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