Co-owned property
YASH
(Querist) 25 February 2012
This query is : Resolved
Sir
I own a 1 RK flat in a suburbs of Mumbai. This flat is co-owned by my Father and myself. Mine is the first name in agreement. This is an underconstruction flat under Home loan of 4500 EMI .Currently i have a dispute with my wife and she is staying at her father place. My question is can my wife demand share in the property which is co-owned by myself and father. Also can i gift this property or tranfer this to my mother. What is the way to come out of this issue without selling the flat . Please advise
ajay sethi
(Expert) 25 February 2012
you will need bank consent before you create third party rights . bank has sanctioned loan based on your repayment capacity .
you can gift the flat to your mother . have gift deed prepared stamped and registered . but please take bank into confidence .
if your mother is not working bank wont agree
V R SHROFF
(Expert) 25 February 2012
Your Wife cannot claim anything in this Flat.
It is not your matrimonial home, so she cannot get Residential Order, or prove any shared household there, as it is under construction.
Only in the event of any Maintenance Order, she can claim maintenance attachments of Flat.
There is no need at present. No case is pending between you and your Wife at present.
You should not have started Fight, by sending Legal Notice to her. Bless God, she did not start fight with you by filing 498a, dv, 125 mtn for herself and your son etc etc.She is allowing you peaceful life. Why you want to invite trouble??
Do not throw something out of your hand, with fear that someone will claim part of it. Keep with you, and let us see what she do.
Why spend unnecessary for Transfer/ Sale etc. and throw away your property. ?
Try to settle. look at your 6 yrs son. Go Baroda, have a nice talk with your son, & Wife. If they insult you 6 times, go again after a week 7th time.
Scarify your ego for happiness of you and your family. . Distribute happiness to at least 10 close family members from both family She as against your mother only. Do not add Petrol in fire if you give ur property to your mother, you are burning your family, wife and your son too.Who knows your parents will support you in future, or will be influenced by your sisters in law, brother & others??
You may loose everything, and pay installment through your nose, come on road, starving, if you try such thing. At least have a roof on your head.
Chanchal Nag Chowdhury
(Expert) 25 February 2012
Bank has given loan to U. So, no transfer can take place without the consent of the bank.
prabhakar singh
(Expert) 25 February 2012
Your wife can not claim title in the property and you also can not transfer it to some else in any manner without consent of bank as the property title is mortgaged with the bank.
