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Transfer of joint owenersh in case of death of one of the joint owners
11-Apr-2023 (In Property Law)
Greeting, My mother and Father were holding a flat as a joint owners in Mumbai. My Mother was the First owner and my father was the second Owner. My parents have two children one son and one daughter (myself), they both are married and are USA citizen. My father demised in the year 2017. subsequently, my parents had made me and my bother as nominee in the said Flat. Further, we want the society to transfer my father's entire share to my mother (100% share holder) and we will continue to be nominee in the said Flat. Please guide us as how my fathers entire share can be transferred to my mother?
1. After the demise of your father, 50% of his share in property would devolve on your mother, you and your sister equally (i.e. you). The share will be divided 1/3rd in each one's favour;
2. Nobody becomes the absolute owner of the property;
3. Your mother becomes the absolute owner of the property when your brother and you give an NOC to your mother. Also you can execute a relinquishment deed in favour of your mother in respect to the share of your late father's property;
4. You will have to also give NOC to society that you and your brother are not going to claim your father's share in the property and have surrendered your right, title and interest of your share to your mother;
5. It is advisable that you fill nomination papers and submit the same to your society;
6. It is further recommended that your mother executes a will in respect of you and your brother and also have it registered to avoid any future disputes.
2. Nobody becomes the absolute owner of the property;
3. Your mother becomes the absolute owner of the property when your brother and you give an NOC to your mother. Also you can execute a relinquishment deed in favour of your mother in respect to the share of your late father's property;
4. You will have to also give NOC to society that you and your brother are not going to claim your father's share in the property and have surrendered your right, title and interest of your share to your mother;
5. It is advisable that you fill nomination papers and submit the same to your society;
6. It is further recommended that your mother executes a will in respect of you and your brother and also have it registered to avoid any future disputes.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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Hi.
1. I assume that your parents have equal share in the flat as co-owners.
2. I assume your dad has not left any Will.
3. There are two ways by which your mother can become absolute owner of the flat.
4. First, you and your brother can execute a release deed in favour of your mother therein releasing your shares in the flat to your mom. This deed will have to be stamped and registered. In the alternative you and your brother can also simply execute a NOC affidavit stating that you have no objection if the flat is transferred to your mom's name. Now it depends on your society as to which document they need from you. Whatever may be the document, the society will insist for issuing a public notice in newspapers to invite objections against transferring your and your brother shares to your mom name. If no objection is received in response to public notice, the society should transfer the flat to the name of your mom.
5. Second, your society may insist to obtain Letters of Administration from court by which an administrator will be appointed by the court. Then this administrator will transfer your and ur brother shares to your mom with court permission. Obtaining a letter of Administration will involve cost like fixed court fees of Rs 75k plus other charges like lawyer fees and clerkage.
6. So the first option is easier and easy on pocket but it depends on your society.
1. I assume that your parents have equal share in the flat as co-owners.
2. I assume your dad has not left any Will.
3. There are two ways by which your mother can become absolute owner of the flat.
4. First, you and your brother can execute a release deed in favour of your mother therein releasing your shares in the flat to your mom. This deed will have to be stamped and registered. In the alternative you and your brother can also simply execute a NOC affidavit stating that you have no objection if the flat is transferred to your mom's name. Now it depends on your society as to which document they need from you. Whatever may be the document, the society will insist for issuing a public notice in newspapers to invite objections against transferring your and your brother shares to your mom name. If no objection is received in response to public notice, the society should transfer the flat to the name of your mom.
5. Second, your society may insist to obtain Letters of Administration from court by which an administrator will be appointed by the court. Then this administrator will transfer your and ur brother shares to your mom with court permission. Obtaining a letter of Administration will involve cost like fixed court fees of Rs 75k plus other charges like lawyer fees and clerkage.
6. So the first option is easier and easy on pocket but it depends on your society.
Helpful?
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