Joint ownership of flat-will-nominations
suresh
(Querist) 21 January 2016
This query is : Resolved
I along with my wife own a flat in CHS Mumbai. This flat is self acquired by both of us in ratio of 95:05 but this is not mentioned in sale deed. We have made nomination in favour of our 3 major children. I presume that in case of my death, my wife, co-owner will automatically become the sole owner of flat. Nomination in favour of children will arise only after we both are expired.
Is it necessary for me make nomination in favour of my wife also to safeguard her interest. Should I also make a will in her favour separately. Thanks
Kumar Doab
(Expert) 21 January 2016
It is believed that you are Hindu.
Nomination in CHS is not parallel route to succession.
Your share shall devolve equally upon your wife and children.
Likewise your wife's share shall devolve equally upon spouse and children.
You can write a WILL and preferably register it.
In Mumbai it is mandatory to probate the WILL.
You may obtain legal heir certificate as well.
You can also look at option of enjoyment till you are alive then to pass on to your wife.
A local lawyer can help you.
H.M.Patnaik
(Expert) 21 January 2016
Explicitly advised by Expert above.Pl. consult an experienced local civil lawyer for proceeding further.
Adv. Yogen Kakade
(Expert) 22 January 2016
Mr. Kumar Doab has rightly answered.. but it is advisable to consult a local lawyer.
Hemant Agarwal
(Expert) 04 May 2016
1. Legally nothing happens automatically and more specifically when you say "in case of my death, my wife, co-owner will automatically become the sole owner of flat". Nobody stays alive perpetually and wife is no exception.
2. Making Nomination does not Transfer Title of the property. BUT duly executing "Gift Deed" while being alive, in favour of the legal heirs, would definetly & instantly Transfer Title of the property.
3. As suggested above by Shri Kumar Doab, depending on circumstances, execute a duly register a professionally drafted will, logically in proper ratio, to your legal heirs.
4. It would be gross foolishness to rely on any Nomination Form, for anything for the future of the legal heirs.
Keep Smiling .... Hemant Agarwal
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