Change of ownership of flat in a condominium

bkp1 (Querist) 30 June 2023 This query is : Resolved
I and my wife live in a Flat in a Condominium, comprising 6 Flats in Pune. We are both Senior Citizens. The Flat is in my wife's name. My queries are:
(a) Is there any provision by which the ownership can now be changed to Joint Names?
(b) Since this is not a Co-op Housing Society and Shares / Nominations are not there for the Flat, is making a Will the simplest way of ensuring that after her the Flat passes on to me, and if I precede her, to our son? If yes, does the Will necessarily need to be registered AND probated for a Flat located in Pune?
The objective is to ensure that after us, the Flat legally passes on to our son. Guidance on the simplest process appreciated

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Quick Summary

This discussion addresses how a senior citizen couple living in a Pune condominium can change the ownership of their flat, currently in the wife's name. The primary queries involve transferring ownership to joint names and the simplest way to ensure the flat passes to their son after both their lifetimes. Experts suggest executing a Will as the most straightforward and inexpensive method, outlining that while registration is not mandatory, it can provide clarity. A gift deed is also mentioned but deemed less ideal due to stamp duty implications.

kavksatyanarayana (Expert) 30 June 2023
Your wife may execute a will stating her flat shall go to the husband for enjoying only and after husband to her son. It is sufficient.

T. Kalaiselvan, Advocate (Expert) 30 June 2023
1. Your wife can execute a registered gift deed in your favor with a share in the proeprty so that you can become a joint owner of the flat.
2. If a Will is made then the entire property can be transferred in favor of the beneficiary only after the lifetime of the current owner, you can decide about the conditions of the Will. The registration of Will document is not mandatory.

Dr. J C Vashista (Expert) 01 July 2023
Gift deed shall completely transfer title (ownership) of the flat and would be liable to stamp duty (in Delhi) accordingly it is not advised.
Execution of a "Will" in your favour shall be the best option, being inexpensive and without disturbing title.

Advocate Bhartesh goyal (Expert) 01 July 2023
Better option for your wife is to execute a wiil in favour of her husband and give right to him to enjoy the property after her death and after her husband's death the property will passed to her son.

bkp1 (Querist) 01 July 2023
Thank you all for your guidance. Much appreciated

T. Kalaiselvan, Advocate (Expert) 01 July 2023
You are welcome for your appreciations

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