Validity of nomination registered with society.
Jayasheela
(Querist) 04 June 2013
This query is : Resolved
1. The Sale Agreement of residential property is in the Joint name of Father and Mother. After the death of Mother, Father give the Nomination Form to the Society naming Daughter as 1st Nominee (50%share) and Son as 2nd Nominee (50%share) and Society registers the same in their records without obtaining NOC from any of the Beneficiaries.
2. Whether the Nomination made is valid and what are the Legal implications about Transfer of Share/Property (a) if no Will is made subsequently (b) if Will is made subsequently with same 50% Share each ?.
P. Venu
(Expert) 04 June 2013
Nominations, by itself, do not amount to transfer of title or divest anyone of their vested rights.
Raj Kumar Makkad
(Expert) 04 June 2013
Will of self acquired property if duly proved shall prevail over nomination.
Hemant Agarwal
(Expert) 10 June 2013
1. Lawfully, a Nomination Form has to be submitted BY the property holder, approved & registered in the Society records and registers, BEFORE, the death of the property holder.
In the instant case, IF the mothers nomination form is given to the Society after the death of mother, THEN the nomination form is "null & void" and has no legal relevance.
2. In the instand case, there are TWO owners of one property, the mother holds 50% and the father holds 50%. HERE the father can nominate or WILL, ONLY his own 50% to his children in the ratio he wishes to. The father cannot nominate or will, the 50% ratio of property standing in the name of the mother.
3. The mothers 50% ratio in the property shall like static, till appropriate court decree is obtained for this 50% of the mothers property, in favour of any/several legal heirs/beneficiaries. This is in the absence of Nomination or Will executed by the mother.
4. Transfer of Property, based on Nomination, is illegal and invalid and does not confer any "title-ownership rights". However tranfer of society membership is possible based on Nomination. A Nominee CANNOT sell immovable property, received to him, by way of Nomination.
http://www.lawyersclubindia.com/forum/Constitutional-97th-amendment-declared-ultra-vires-79572.asp
http://www.lawyersclubindia.com/forum/Rti-act-8230-for-coop-society-applicability--80091.asp
Keep Smiling .... Hemant Agarwal
