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how to safe guard my ownership without will.
15-Nov-2023 (In Wills / Trusts Law)
I am Hindu. My parent have not made a will, Mother is no more Father is alive, bedridden. I have one brother & 2 sisters all married. I am youngest & living with father. flat in which i stay is in the name of Mother,Father & me. Share portfolio is in the name of Father & me.
Gold ornaments in bank locker are in my possession only.
Query: if father dies than i want to be safe in Share & flat's ownership.
can my siblings challenge my ownership in Share and Flat ??? If yes then what is to be done to avoid this ?
ornaments in the bank locker may be in your possession but you need to be assured that the same is in your name.
please explain what is a share portfolio.
your siblings can claim ownership or the ornaments only but not the flat as the same as per your query is in your name.
however, if in the agreement there is no mention that the. flat is not to be claimed by your other siblings then it is entirely yours.
please explain what is a share portfolio.
your siblings can claim ownership or the ornaments only but not the flat as the same as per your query is in your name.
however, if in the agreement there is no mention that the. flat is not to be claimed by your other siblings then it is entirely yours.
Helpful?
Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
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This is my response to you:
1. Prepare a Will at the earliest;
2. You can also register the Will;
3. This will safeguard your interests and no sibling can challenge the Will;
4. Consult a local lawyer and take steps.
1. Prepare a Will at the earliest;
2. You can also register the Will;
3. This will safeguard your interests and no sibling can challenge the Will;
4. Consult a local lawyer and take steps.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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As far as the Moveable assets are concerned & if no 'Will' is made by the father & if such Moveable Assets like Shares were being purchased by the father from his own investment, then after the death of the father without making 'Will', the proportion of his shares being the Moveable Property of your father will be transferred in equal proportion amongst all siblings, as in your case mother is no more, otherwise a share of your father's shares would have went to your Mother too. Shares on your name in the Joint-Ownership of shares with your father will remain on your name, only your father's portion of shares will get transferred to all the siblings including you if your father dies without making a Will.
So, you must tell your father, to transfer by the way of Gift Deed to you his portion of shares along with the Flat Ownership, so that legally, during your father's lifetime, the ownership of shares & Flat get transferred to you & as such, to become the owner.
So, you must tell your father, to transfer by the way of Gift Deed to you his portion of shares along with the Flat Ownership, so that legally, during your father's lifetime, the ownership of shares & Flat get transferred to you & as such, to become the owner.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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