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Rights of first owner in a property


02-May-2023 (In Property Law)
Hi, My husband and his mother owns a flat in a cooperative society in Mumbai, he wasnt earning much at that time so did not contributed much to the capital (2014) however the deed simply ask the developers (i.e. builders of the society) to transfer this property in name of purchasers i.e. 1) My mother in law's name , 2) My husbands name in that order resp, however no division like 50 -50% or any other ratio is mentioned, nor is it specified categorically that MIL is the first owner (apart from serial no 1 &2) Now my questions are ;- 1) is mother in-law the first owner here ? If yes are there some special rights given to first owner 2) Since the deed doesn't specify ratio of capital paid or the ratio of property each has should we assume its 50-50? 3) The share certificate which is yet to be formed or come, will it automatically state both my husband and mother -in law as a 50-50 partner or do we have to fill it like that/ ( please elaborate on share certi) if she makes nominee to ?
Answers (3)

Answer #1
733 votes
The deed entitles one to the ownership of the property. The person mentioned as owners are the joint owners unless there is a specific covenant in it. And the in a deed where percentage of ownership is not mentioned. It is assumed that the persons mentioned are equal owners. The society is bound to issue the share certificate in the name of all owners. Simply because one is owner that does not entitle one to be the owner.
Answer #2
715 votes
Hello, The Query is simple so when nothing is specified at that time you can't assume about the ownership. So, in this case the property is jointly owned by both of them and both the owner has equal rights in the said Property. so now we can go question by question: 1) No both are joint owner 2) yup, every joint property is owned equally between both the owner. 3) No, i would advice you address an notice to Builder through an Advocate saying about everything and by making it proof about the joint ownership. i would love to help you if i am given a opportunity to review your documents.
Answer #3
516 votes
Hi First answer is if mother in law and your husband's name is shown as purchase in the deed, without clarifying ratio of casideration paid by them to the seller, the law assume equal owership. Therefore both are having 50/50 share in the property. So far issuance of share certificate by society is concerned, it depends upon bye laws. Generally society will issue certificate in name of first purchaser. There is no special rights are given to first purchaser so far as properitery right is concerned.

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Comments by Users

fiufiu34
if wife helps in payment to builder during HOUSE Purchase will I have to pay the tax to gov?

Reply by LawRato
The tax implications of joint ownership of a house property may depend on various factors, such as:
- The share or interest of each co-owner in the property.
- The source and amount of income from the property, such as rent or capital gains.
- The deductions and exemptions available to each co-owner, such as interest on housing loan, principal repayment, or capital gains exemption.
- The tax residency status of each co-owner, such as resident or non-resident.
Tax laws can be complex, and it's important to ensure compliance and make informed decisions. Consulting with a tax advisor will help you understand your specific tax obligations and potential benefits related to the house purchase. You can hire a lawyer by clicking on the link below. 
Top Tax Lawyers in India

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