Maharashtra cooperative society
Girish
(Querist) 19 August 2015
This query is : Resolved
I am an associate member on share certificate along with my mother and my father who is the member (first name on the share certificate). 3 joint owners.
My mother passed away 2 years ago. I would like to know my rights on the property after my father. I have 3 sisters who are not listed on the share certificate and live abroad as US citizens. I am curious to find out how the shares will be allocated since I am currently 1/3 joint share holder. My mother died intestate.
I am not sure if my father can make a will dividing the entire property equally amoung 4 siblings or he can only will his 1/3 share as he wishes.
please advise.
Kishor Mehta
(Expert) 20 August 2015
Sir,
[1] In absence of mention of specific shares of the joint holders, all joint holders are considered as equal share holders of the flat.
[2] In your case you are 1/3 owner of the flat, 1/3rd share of your mother will be divided equally amongst the five beneficiaries, your father, yourself and your three sisters.
[3] Your father can bequeath his share to anyone with a Will.
Good Luck,
Kishor Mehta
Girish
(Querist) 21 August 2015
Kishorji...Thank you for your opinion on the matter.I appreciate your prompt response.
V R SHROFF
(Expert) 21 August 2015
no mor to add
except:-
did your mother nominated someone?
with I Bond and NOC , from your father/ sis, you can trf entire flat on your name now.
Girish
(Querist) 21 August 2015
Yes, Mother nominated 3 US citizen sisters.They are trying to take over the flat.... :)....by eventually taking my father's share.Since I am in US they took advantage by influencing my parents. I haven't relinquished my indian citizenship, but I am located too far away to stop them from taking over the flat and renting or selling it.
Kishor Mehta
(Expert) 21 August 2015
Sir,
Let me make one point very clear, nomination creates a trusteeship, it does not confer ownership rights.
As your mother died intestate all her natural heirs will share her property equally.
You can write officially to the society in the matter to claim your rights and to forestall any unlawful transfer of the flat.
Good Luck,
Kishor Mehta
Girish
(Querist) 21 August 2015
Kishorji....you make a valid point, however their intention is to take physical possession of the flat. They already changed the locks and subsequently my father refused to have me visit and asked me to stay in a hotel instead. I am worried if I will every have any utility and enjoyment of my share. is it possible to partition my share out?seems I have no choice.
