Property transfer
Sujata
(Querist) 23 September 2012
This query is : Resolved
My husband had passed away . Myself and myhusband owned a flat . It is self owned property by us ( my husband and me) . As I understand myself , my son and my mother-in-law are the legal heir of the flat ( i.e my husband share). my mother-in-law want to transfer her share either in my name or my son name . My son is minor . What is the best way to do . Please suggest
prabhakar singh
(Expert) 23 September 2012
Two options your MIL has.
She may gift her share to your minor son which YOU as guardian shall accept on your minor son's behalf or she may create a Quit claim deed in your sons'favor which law in India often names relinquishment deed.try toknow which one costs less in your State with regards to stamps duty.That is the only thing to be considered for best option otherwise any of the two would be perfect.
Sujata
(Querist) 23 September 2012
thanks Prabharkar . I am from Maharashtra
Anirudh
(Expert) 24 September 2012
Upon the death of your husband, his share will go by way of inheritance amongst legal heirs viz., his widow (you), his son and his mother (your mother in law).
In case the share of your husband has to be given to your minor son, then both you and your mother-in-law have to execute separate Registered deed of Relinquishment, relinquishing your respective shares in favour of the minor.
You have to find out the stamp duty applicable in Maharashtra for such release/relinquishment deed.
V.Mahadevan
(Expert) 24 September 2012
When a male dies and there is no WILL,the property passes to minor children,surviving wife and mother of the deceased in equal share, according to the law of inheritance and succession.
The surviving mother-in-law in the instant case may transfer /gift her share of the immovable property to the minor by executing a written document, which must be registered.
