Hello,
An commercial property (shop) in a co-operative housing sociey was bought jointly by my mother and sister.
- all the money was paid from my mother's bank account
- there is no mention of percentages of ownership in the agreement
- share certificate has names of both of them
My query
My mother wants to gift her share (50%) to me (her son) :
1 Is there need of any NOC from my sister for the gift deed
2 does my sister need to be a witness in the gift deed ?
3 Is 50-50 the default/assumed portions of my mom and sister..can this be changed or challenged later on ?
Thanks,
milind
