Residential apartment ownership
Ramesh Prabhu
(Querist) 07 December 2014
This query is : Resolved
I have a Residential apartment in Mumbai with me as First holder and my Father and wife as second and third holders. My father invested 47% of the amount and the remaining portion was funded through my saings and a loan raised from housing finance co. What is the procedure for transmission of the flat ownership after my father's death(He is still alive)?
His share was made through sale proceeds of another flat which was acquired through his self earnings.
Is a will only sufficient or NOC of other legal heirs, viz. my two brothers also required?
Also can he nominate and will his share to my son ?
V R SHROFF
(Expert) 07 December 2014
Equal Share to all 3
WILL of any one/2/3 will entile the right as per will, otherwise Equal+ as per share of deceased heirs.
can nominate, but it does not create right..
Sailesh Kumar Shah
(Expert) 07 December 2014
Is a will only sufficient or NOC of other legal heirs, viz. my two brothers also required?
Answer : only will
Also can he nominate and will his share to my son
Answer: will his share to your son (not nomination in the society).
Rajendra K Goyal
(Expert) 08 December 2014
If your father expires intestate, his 1/3 rd share will go to all his legal heirs.
Presently your father can make a will for his property(including share in the said property), no need of consent of your brothers or any other person.
He can give his share to any one in his will.
malipeddi jaggarao
(Expert) 09 December 2014
After death - Will.
During life time - Registered gift deed gifting his share to you.
T. Kalaiselvan, Advocate
(Expert) 11 December 2014
You may follow the short, crisp and proper advise rendered by expert Mr. Malipeddi Jagga Rao in this regard. It sounds more meaningful option.
