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Mother co applicant in flat can she be 70 percent owner of property
11-Jan-2023 (In Property Law)
Going to buy an apartment . My wife will be applicant and mother co applicant. I wanted to know if by any means can mother be 70 percent owner of property and wife 30 percent by mutual agreement?
Yes, the ratio of ownership can be mutually agreed upon and decided and can be mentioned in the conveyance deed / sale deed accordingly. It is suggested that the sale consideration i.e. price of the apartment be shared in the same ratio by both the co-owners.
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Adv. Ritam Khare
Delhi | 25+ Answers
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Adv. Avneesh Garg
Delhi | 200+ Answers
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Hi
In the sale deed executed by the seller and while giving description of the buyers you can specify the details in respect of the respective share of the buyers and the consideration paid by them.
Once you specify that the property is being transferred by the transfer in the ratio of 70 and 30 and the buyers ratify the same they will acquire the ownership in the given ratio.
In the sale deed executed by the seller and while giving description of the buyers you can specify the details in respect of the respective share of the buyers and the consideration paid by them.
Once you specify that the property is being transferred by the transfer in the ratio of 70 and 30 and the buyers ratify the same they will acquire the ownership in the given ratio.
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Adv. Pravin Sharma
Delhi | 100+ Answers
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