How to add my four son's name to a property owned by me and make it joint ownership property?
Tipsy
(Querist) 05 April 2013
This query is : Resolved
How to add my four son's name to a property owned by me and make it joint ownership property?
I have a flat which is in my name in Rajkot. Which builder has not obtained occupation certificate (OC) from the authorities and there are two illegal floors, and society is also not registered Since my age is 83 years , I would like to make it a joint ownership property or transfer the property to my 4 son's name whichever is easier.or where do we give nomination form, Is there any law to protect flat owner on the above issue?
What is the process and how much would it cost and the time it would take. Any inputs appreciated.
ajay sethi
(Expert) 05 April 2013
it is better you make a will in fvaour of your 4 sons and get it registered . if you transfer share in favour of sons by gift deed you will have to pay stamp duty and registration charges .
in addition you are 83 years old . once your transfer property in 4 sons name they may stop caring for you in your old age .
Nadeem Qureshi
(Expert) 05 April 2013
Dear Querist
family settlement deed can be executed too.
prabhakar singh
(Expert) 05 April 2013
Gift or Will and no other course open to you.
There is no room to consider any kind of family settlement as you are exclusive owner
and none of your sons co-own with you even an inch of the property.
Anirudh
(Expert) 05 April 2013
You have not indicated whether your wife is alive.
Devajyoti Barman
(Expert) 05 April 2013
Gift or family settlement deed, wither of the two is good.
Raj Kumar Makkad
(Expert) 06 April 2013
-Anirudh It seems that the querist is she and no he so the question of 'his wife' do not arise. However, even if the querist is 'she' the right of her husband, if he is alive, cannot be ignored had it been the ancestral property but if the property is self acquired then will is the best option if the same is duly registered as desired in favour of all 4 sons.
