Joint ownership of flat
Natasha Prakash Bankeshwar
(Querist) 06 September 2017
This query is : Resolved
Dear Sir,
1. Share Certificate in respect of Flat solely owned by the deceased member has been transferred to his sole nominee / son in accordance with the Nomination Form and Bye-laws, after the said nominee became a member. There are three legal heirs, i.e. wife and two sons of the deceased member, the younger son being the sole nominee.
2. The said sole nominee has now requested for joint ownership of the said Flat with his mother (wife of the deceased member) i.e. for 50% share and interest each in the said flat / share certificate. In this regard, please let us know the following:
1) Procedure and documentation under the law for granting such joint ownership of the flat as stated above.
2) Whether No Objection Letter is required from the other son for such joint ownership of the flat?
3) Whether the flat can be sold if the Society grants such joint ownership of the flat?
4) Whether No Objection Letter is required from the other son for the sale of flat by the joint owners?
Sincerely,
(Prakash S. Bankeshwar)
Secretary, Aaram CHSL
Ms.Usha Kapoor
(Expert) 07 September 2017
You gift your 50%share in the flat property to your mother by way of registered gift deed. So both of you can became joint owners of the flat. no tax ids payable for gift to relative who are specified under IT Act 1961.You obtain a Registered release deed from the other son relinquishing all his right,title and interest in favour of you and your mother.. either of the two joint owners can sell their 50% share either to the other coowner or to a stranger according to law of Joint ownership.If any of them predeceases the other without leaving a will his share gets transferred to other joint owner by law of survivorship and not to his legal heirs.
P. Venu
(Expert) 07 September 2017
The other son needs to relinquish his share in the property through a registered deed.
Rajendra K Goyal
(Expert) 07 September 2017
You asked:
1) Procedure and documentation under the law for granting such joint ownership of the flat as stated above.
Reply:
Go through the bye laws, ask the formats of documents (application, affidavit etc.) from society.
Rajendra K Goyal
(Expert) 07 September 2017
You asked:
2) Whether No Objection Letter is required from the other son for such joint ownership of the flat?
Reply: Yes. Registered release / relinquishment deed required.
Rajendra K Goyal
(Expert) 07 September 2017
You asked:
3) Whether the flat can be sold if the Society grants such joint ownership of the flat?
Reply: Yes
You asked:
4) Whether No Objection Letter is required from the other son for the sale of flat by the joint owners?
Reply: No
Hemant Agarwal
(Expert) 12 September 2017
Kindly prefer to visit the following link, for basic answers to your query:
http://www.lawyersclubindia.com/articles/Analysis-on-Nomination-in-housing-society-7787.asp
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
