Adding my name to a residential property


Hi,

We have a residential property that was bought in 1996 and is in the name of my mother. My father bought it with his money and we are no longer living in the property. My father recently passed away and he wanted my name to be added to the property. My mother wants to action this now....how do we go about doing it?

The ideas is for me to get sole ownership on death of my mother.

The options we have been made aware of so far:

- get a nomination form from the chairman of the apartment owner's association. Put my name as the nominee.

- get a no objection certificate/letter from the chairman of the association ...stating that they have no objection in adding my name to the property.  Do we need to get this NOC on association's letterhead or a stamp paper?

- get my name added in the will?

 

your prompt response much appreciated.

 

thanks 

b

 
Reply   
 
Advocate

You can ask your mother to execute a gift settlement  or a conditional gift settlement in your favour. By executing a gift settlement, you will become its owner instantly and then you may add your name as a member of the society.  A "WILL" is a document that will come into force upon the death of the person who executed it. The "WILL" will have to be probated , in order to bring it into force.

 
Reply   
 



Thanks Vishnu for your promot response.

Should I still go ahead and obtain the NOC from the society?

Cheers

Brij

 
Reply   
 
Advocate

yes, you can get a NOC from the society or even if they don't give you a NOC , your mother can still make a gift settlement . This is a unilateral act of your mother and the society does not have any legal standing to direct how the members of the society , deal with their property.

 
Reply   
 

Thank You again Vishnu Ji,

May I please request some format of what I should get on the NOC?

 

Thanks In advance.

 
Reply   
 
Advocate

kindly inquire with the society office and I'm sure they will help you in this regard.

 
Reply   
 
Jadhav & Associates

You dont require the society NOC for your mother gifting the property to you.

Please note, however, that a gift deed will require payment of stamp duty and registration to be valid. The stamp duty to be paid on a gift deed is much lower than that on a normal sale.

Transfer by will is also easy but you will have to get the will probated by the Court.

Both of these will not require the society NOC. You seem to be more worried about the society NOC,

S Jadhav

 
Reply   
 
Advocate/Attorney

The better option is gift deed. The stamp duty in A.P. is 1% on market value. Though it is expensive, the property will transfer to your name instantly.  If you go by will, it will take effect after the death of your mother,  in between if you mother changes her intention, she can writ the will on somebody's name.  Then you will be the loser.

 

NOC from society is normal procedure, nothing to worry.  Even if they do not give you can file a case/complaint against the soceity and get your work done. 

 
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