Property by will
arun
(Querist) 11 May 2013
This query is : Resolved
my mother in law wants to tranfer house to my wife(her daughter) not any other brothers/sister. what is best way to tranfer the property so that no one challenge it. 2nd there is housing loan on that house, after the tranfer of house by will, can my wife take loan for the construction /repair of that house and tranfer the earlier loan in her name please guide me.
ajay sethi
(Expert) 11 May 2013
let your mother in law make a will in fvaour of her daughter . have the will duly registered . it should be signed in front of 2 witn esses .
the said will will take effect on your mother in law demise . pray that she has a long life and the loan is repaid during her life time only .
once your wife is owner of said house she can take loan for repirs of house as she deems fit
Advocate M.Bhadra
(Expert) 11 May 2013
You did not mention whether your father-in-law is alive or not and property is self acquired by your father-in-law or mother-in-law.If your wife is only daughter and your father-in-law died then no need to execute a Deed of Gift or WILL,your wife will get and become absolute owner of the property after demise of your mother-in-law according to Hindu Succession Act. However,your mother in law want to transfer her property to her daughter during her life time then she can execute a registered Deed of Gift which is best option and minimum charges.Otherwise she can make and left a WILL,which it would effect only after death of your mother-in- law by a Probate case have to file by your wife in a Civil Court for granting of the WILL.
prabhakar singh
(Expert) 11 May 2013
If your mother in law is absolute owner of the house then in circumstances of your facts NOT the WILL but GIFT deed would be my advice.I so opine because as there are so many natural heirs like sons and other daughters to your mother in law,unless they confirm the WILL,your wife may face litigation from them after death of your mother in law.While in case of Gift title shall get passed to your wife instantly with loan burden if Gift accepted by your wife.
arun
(Querist) 12 May 2013
thanks sirs,
the said property is exclusively in monther in law name and father in law has expired. now if the property tranferred by registered gift deed to her daughter, can she takes the burden of present loan and take further loan for repair and extention. further, while taking earlier loan she has taken joint loan with son showning son's income, now sons have become hostile and not paying loan.
arun
(Querist) 12 May 2013
the property is self earned by father in law and by my wife.
ajay sethi
(Expert) 12 May 2013
you will need bank consent for trnasfer of property from mother in law to your wife . if bank agreed then your mother in law can execute gift deed in your wife favour . have it duly stamped and regd . your wife can repay the loan if bank agrees to transfer loan in her favour
arun
(Querist) 19 May 2013
thanks for advice
sir
can excecute and register the gift deed in other city than where property exist.
ajay sethi
(Expert) 19 May 2013
gift deed has to be stamped and regd where the property is situated
