Share certificate

abhangasamata (Querist) 09 November 2023 This query is : Resolved
In gift deed Donor(Mother) is gifted the flat to Son(donee) & Daughter in Law( repugant/Confirming party).
is it possible to put all 3 members name in share certificate holding 1/3 share of the flat or only the donees name??

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T. Kalaiselvan, Advocate Online

(Expert) 09 November 2023
The mother has transferred the flat to her son by a registered gift deed, hence the son becomes the absolute owner by the virtue of the gift deed.
his wife is just a confirming party to the deed and not a beneficiary to the gift and the mother who is the owner has relinquished her rights in the property immediately after she had transferred the property on her son's name by executing a registered gift deed.
In this situation, both the mother and her daughter in law are third parties to the property and do not have any rights or interest in the property.
Therefore they cannot be included as shareholders in the share certificate.