Joint coowner property
KGMKGMKGMKGM
(Querist) 08 December 2014
This query is : Resolved
Though it looks like a general question, but it is a query requesting to please answer for one of my friend. The query is that a flat has joint owners where a son as first party added father as courtesy and respect as second prty jointly in sales deed. Though all money is paid by first co owner i.e son including registration and took loan and is still paying loan in his name. Now the father is died and thus as I believe, the first owner becomes whole sole owner since he pays everything since beginning and still paying housing loan. Kindly advise if so and also what process is needed to have it. Thanking you in advance
Sailesh Kumar Shah
(Expert) 08 December 2014
Your friend have only 1/2 share in property. Rest is vested among all legal heirs of his father.
Devajyoti Barman
(Expert) 08 December 2014
Both the person whose name is there in the sale deed are joint owners in equal undivided share irrespective of the fact of payment by one person.
Devajyoti Barman
(Expert) 08 December 2014
Both the person whose name is there in the sale deed are joint owners in equal undivided share irrespective of the fact of payment by one person.
Devajyoti Barman
(Expert) 08 December 2014
Now if the father has widow and other son/daughter has his legal heirs then then along with the co-owner becomes the equal shareholders of 1/2 share of the deceased.
Rajendra K Goyal
(Expert) 08 December 2014
The son is owner of 1/2 share of property, other 1/2 share is held by all the legal heir of deceased father.
KGMKGMKGMKGM
(Querist) 08 December 2014
Hi,
I think for co ownership i.e joint ownership, when one co owner (in this case second part) dies, his/her interest automatically passes on to the surviving joint tenant since the co-owners need to take the same title at the same time, same deed and with equal interests.
Could you please check and revert back on this? Thanks
ajay sethi
(Expert) 08 December 2014
on death of father his 50%share in property would devolve on his legal heirs . although son may have paid the consideration for purchase of flat since in sale deed name of father is also mentioned son has only 50%share in flat
Sailesh Kumar Shah
(Expert) 08 December 2014
you are not right in your thinking that "I think for co ownership i.e joint ownership, when one co owner (in this case second part) dies, his/her interest automatically passes on to the surviving joint tenant since the co-owners need to take the same title at the same time, same deed and with equal interests."
here is law applicable and already advised you.
