Share in the flat
Querist :
Anonymous
(Querist) 28 December 2011
This query is : Resolved
Hello Everyone,
My father had purchased a flat having 932 sq ft built up area and UDS of 500 sq ft.
Father(applicant) and Myself(co applicant) got a loan for 15Lakhs from LIC while purchasing the flat. The document is in my fathers name. The original document is with LIC HFL. My father passed away a month back. The legal heirs are Myself(26years), Mybrother(24 years) and my fathers second wife(55 years). She has no issues. However , the house was purchased after ny fathers second marriage . The second marriage took place 6 years back.
We have closed the loan now. To get back the original document, all 3 of us need to sign in LIC HFL. The problem is my father`s second wife is demanding a large amount of money to do that which we cannot afford. What are the possible legal claims she can do? Please note that the document is with LIC. The document is in my Father`s name.
Devajyoti Barman
(Expert) 28 December 2011
After the death of your father intestate , his half share devolves i equal shares among all his lehgal; heirs which include the second wife as well.
So without her signature the Bnak may not release the original deed.
It is imperative now that you have to give her share which can be converted into liquidated amount and on payment you could get her consent for relinquishment of her share.
prabhakar singh
(Expert) 28 December 2011
You, your brother and your father's second wife are three legal heirs of the property left behind by your father with a equal sharing right of 1/3 each and are liable to pay the loan amount accordingly bearing the burden 1/3 each.Then if the loan has been retired by you; you can sue other two heirs ,your step mother and your brother for realization of loan share paid falling due to their a/c otherwise it shall stand barred after three years or ask them to relinquish there share to that extent by a registered deed.Hopefully understanding this aspect every thing shall materialize.
Querist :
Anonymous
(Querist) 28 December 2011
Mr.Prabhakar,
Thanks.My step mother is demanding a certain amount for her release deed . Do we need to mention the amount paid to her for this purpose in the release deed?
prabhakar singh
(Expert) 28 December 2011
ON mentioning consideration it would be treated a sale deed and stamp duty would be charged accordingly,your query and circumstances that she is step mother and old too suggest that you should go for a clean registered sale deed with consideration well proved by bank transaction otherwise if some one latter misguides her then a provision in THE MAINTENANCE AND WELFARE OF PARENTS AND SENIOR CITIZENS ACT, 2007 which reads as under shall cause your interest jeopardized "23. Transfer of property to be void in certain circumstances : (1) Where any senior
citizen who, after the commencement of this Act, has transferred by way of gift or otherwise, his
property, subject to the condition that the transferee shall provide the basic amenities and basic
physical needs to the transferor and such transferee refuses or fails to provide such amenities
and physical needs, the said transfer of property shall be deemed to have been made by fraud or
coercion or under undue influence and shall at the option of the transferor be declared void by the
Tribunal.
(2) Where any senior citizen has a right to receive maintenance out of an estate and such
estate or part thereof is transferred, the right to receive maintenance may be enforced against the transferee if the transferee has notice of the right, or if the transfer is gratuitous; but not against
the transferee for consideration and without notice of right.
(3) If, any senior citizen is incapable of enforcing the rights under sub-sections (1) and (2),
action may be taken on his behalf by any of the organisation referred to in Explanation to subsection (1) of section 5. C"
Hence even sale deed should also mention that not only consideration for her share is being paid but also one time lump sum maintenance is also being paid.
Querist :
Anonymous
(Querist) 28 December 2011
So which one is preferred(Release deed or sale deed) in the context that in the future , it cant be challenged legally?
Deepak Nair
(Expert) 29 December 2011
On the basis of Prabhakar Sir's advise, the sale deed is the best option to avoid any future problems
ashutosh mishra
(Expert) 29 December 2011
yes!In view of provision quoted by prabhakar sir!you must go for a sale deed.
