The owner of the Flat residing in Mumbai wants to prepare a Gift Deed in favour of his nephew to Gift 50% of his Flat ownership and make his nephew joint owner of the Flat so that both the individuals have equal ownership rights. However the owner also wants to ensure that after his death the remaining 50% ownership of the Flat automatically passes to his nephew and no other legal heirs have a claim and that nephew becomes absolute owner of the Flat after the death of his uncle.
Can we prepare the Gift Deed in such a way adding necessary clauses, terms and conditions and relevant paragraphs to incorporate "Joint Tenancy with right of survivorship" so that after the death of Flat owner the Flat gets transferred to joint owner(nephew) by default and the nephew do not have to apply for Succession Certificate/letter of administration to get the Flat transferon his name.
The flat owner and the nephew are not interested to make any Will because the legal process to get probate is cumbersome, lenghty, expensive and any legal heir can challenge the Will which will lead to unnecessary litigations and prolong things, waste money.
In Western countries, the concept of "Joint Tenancy with right of survivorship" and "Tenancy in common" is quite popular and many properties are brought applying Joint Tenancy with right of survivorship clauses entered in agreements.
