Nomination of flat in mumbai

Sims010101 (Querist) 13 August 2013 This query is : Resolved
We have 2 flats in Mumbai which are in joint names of my husband and me. We have 2 children whom we would eventually want to give one flat each.

Presently, if one of the owners ie us dies we want the other to be the owner of the flats and when both die either together or one after the other our son should be the owner of one flat and our daughter that of the other.

Our query is pertaining to filling up the nomination form. In view of the above scenario how should we fill up theNomination form given to us by the society.

1) How should the names of the nominees be written along with the percentage share keeping in mind the above explained scenario?

2) Is it proper to mention the name of spouse along with both the children for nomination, to be on the safe side and then make a WILL or give the spouse name and only one child's name whom the flat will eventually go to.

3) Giving the child's name along with the spouse name will create any problems in any dealing with the society or not because the children may not be always present for approvals or signatures.

4) In case of joint ownership of flat where the entire cost of the flat has been borne by my husband, what is the % share of each person ie my husband and me. If we are 50% partner then if I write Nominee 1 as my husband - 50% and Nominee 2 as my child's name -50% then will that mean that my husband has 75% and child has 25% or is it some other way?

5) In this situation even though the 2nd nominee written by both of us will be same but the first nominee in both the cases will be different because we will be writing each others names, is that okay, because in that case the society will not have any problems in registering the names of nominee against our flat?

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ajay sethi (Expert) 13 August 2013
you should meet the secretary of your society take his help in filling your nomination forms .

in case of joint ownership both have 50%share in the flat . you can fill in nomination form make your husband and son nominee in one flat with 50%share each . in second flat make your husband and daughter nominee with 50%share each .

similarly your husband has to also fill in nomination forms making you and your son nominee in one flat and you and daughter in another flat

in addition make a will

Sims010101 (Querist) 13 August 2013
Mr. Sethi,
Thanks for your advice.

Sims010101 (Querist) 13 August 2013
I just checked with the society of flat where we stay, they are saying that only the first owner is required to fill up the nomination form. There is no need for the second owner to do so. Do you think this is correct? However the society of our 2nd flat has sent us a written circular stating that both the joint owners have to fill up the nomination form in triplicate. One of them is essentially not correct. Which one in your opinion is correct?