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Milind (Engineer)     30 September 2019

Gift deed for a joint property - any noc required of partner

Hello,

     An commercial property (shop) in a co-operative housing sociey was bought jointly by my mother and sister.

- all the money was paid from my mother's bank account

- there is no mention of percentages of ownership in the agreement

- share certificate has names of both of them

My query

 My mother wants to gift  her share (50%) to me (her son) :

1 Is there need of any NOC from my sister for the gift deed

2 does my sister need to be a witness in the gift deed ?

3 Is 50-50 the default/assumed portions of my mom and sister..can this be changed or challenged later on ?

Thanks,

milind

 

 



Learning

 4 Replies

Real Soul.... (LEGAL)     30 September 2019

yOUR MOTHER CAN GIFT YOU HER WHOLE OF THE SHARE IN THE PROPERTY AND IF YOUR SISTER WOULD SIGN AS WITNESS THAT IS MUCH BETTER.HOWEVER IF SHE  WON'T SIGN THAT IS STILL NO PROBLEM, THERE IS NO NEED OF NOC FROM YOUR SISTER AS YOUR MOTHER IS GIFTING YOU HER SHARE . IF THERE ARE ONLY TWO SHARE HOLDERS THEN THE 50 ;50  IS THE ONLY POSSIBLITY.

2 Like

Shashi Dhara   01 October 2019

Let your mother gift it you with or without consent.her share doesn't bother on others kindness

Milind (Engineer)     01 October 2019

Thanks all of you !!

Sri Vijayan.A (Legal Consultant)     01 October 2019

1.  No need

2. Better to have her as witness, in case she does not accept to sign as witness, you can ask anybody to witness it but they should be well known to your mother.

3. 50: 50 is default.

1 Like

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