Sunil (Manager) 25 August 2012

Joint ownership of apartment with father

Dear All,

I am planning to buy a new apartment under joint ownership with my father? I have heard that there are multiple ways of executing a joint ownership. What do you suggest under the following circumstances:

1. I will start living in the house since my dad is from a different city

2. Uopn his death, would there be any complications. I have a sister and my dad's assets are still undivided.

Keeping these complications in mind, which is the best way to execute so that I can transfer the property smoothly to my name.

Thanks.

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2 Replies

Adv Archana Deshmukh (Practicing Advocate) 25 August 2012

If you register the property in the joint names of you and your father then, after his death your sister shall also have a share in his 50% share. If your father executes a valid Will during his lifetime and bequeath his share to you then, you will get the entire property after his death.

Otherwise you can simply execute the sale deed in your single name now, so that there will be no question of any other person's share in it during your lifetime in future.

Sunil (Manager) 26 August 2012

Thanks Archana. Appreciate your quick reply.

i just read somewhere on "joint tenancy" form of joint ownership wherein upon death the property automatically moves to the joint owner. Can you suggest on this?