Legal heir certificate validity
Sunil
(Querist) 01 February 2016
This query is : Resolved
I acquired an apartment 3 years ago which is our primary family residence. As my wife was much younger than I am, I registered the property in both our names. We have one daughter, presently 8 years old. The property was hypothecated to a bank as I had taken a loan to buy it. All payments for the property were made by me individually from my personal account. My wife passed away 3 months ago. 2 months ago, I cleared the loan on the property and received the no-dues certificate as well as the original documents from the bank. I have obtained the legal heir certificate from the Tehsildar concerned. It shows that my daughter and I are the heirs.
Question 1: what is procedure to make my minor daughter joint-owner of the property?
Question 2: If I wish to again hypothecate the property as security to a bank, will the Tehsildar's legal heir certificate be sufficient so I alone can sign the hypothecation, or does the property first have to be transferred to my minor daughter and I, prior to the hypothecation?
rajagopal.s
(Expert) 01 February 2016
Hi
Your intention to register the property in the name of your minor daughter is very laudable and i sincerely appreciate you for the same.
Based on legal heir certificate, you can transfer the property in to your name and your minor daughter's name by registering the same at Sub-Registrar office where the property is located. i strongly advise property registration immediately so that future problems do not arise from relatives, neighbours who have an evil eye on the property.
Once you have completed the property registration, then you can mortgage the property to the bank if required. However please be informed that some banks do not permit mortgage the property of minor and will ask for court permissions, where as some private banks provide loan if you sign the document in your individual capacity as well as in the capacity of guardian of minor daughter.
Rajendra K Goyal
(Expert) 01 February 2016
Get the share of your wife in the property mutated in the name of you and your daughter.
You can not sell share of your minor daughter without permission of competent authority.
Sunil
(Querist) 02 February 2016
If I get my late wife's share mutated half in my name and half in my daughter's name, I would become 75% owner.
My actual objective is to assure that the whole property becomes my daughter's in case anything happens to me.
So, during this process of mutation, could I transfer the whole property to my minor daughter and as guardian, be allowed to hypothecate the property if so needed?
Sunil
(Querist) 02 February 2016
If I get my late wife's share mutated half in my name and half in my daughter's name, I would become 75% owner.
My actual objective is to assure that the whole property becomes my daughter's in case anything happens to me.
So, during this process of mutation, could I transfer the whole property to my minor daughter and as guardian, be allowed to hypothecate the property if so needed?
Kumar Doab
(Expert) 02 February 2016
You can release/transfer/relinquish/gift etc your share by a valid deed as applicable to such property, to your daughter.
The daughter is minor and lender is to take call on loan on property registered in the name of minor.
