Kumar 02 February 2016

How to save my house from wife and sibling

I have bought a new house on loan. It's in my name 50% and my mother's name %50%. I pad majority of down payment and paying of the 80% loan that we took. There are no conflict in the family as of now, But I want to save this house for me(as this is mine) from my sibling(1 sister, unmarried might get married soon) and from my wife(after I get married). Can I have 2 Relinquishment deeds, one in which I give my 50% share to my mother and 2nd in which my mom gives her 50% share to me. And any of them to my benefit, whenever whichever is required?

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Kumar 02 February 2016

Thanks for your reply. I understand I should not be negative. Because I hear/see so many such incidents that I m forced to think about these. Most of the people who are stuck and in court now, would have only though positive (assuming they never took protection) but still suffering. Life is unpredictable, one can never know future. It's our responsibility to save ourselves. It's like wearing a helmet while riding a bike, that's a protection but doesn't mean u are bound to face accident.

Kumar Doab (FIN) 02 February 2016

If you are Hindu; your ClassI legal heirs are: Mother,Spouse,Children.

The self earned/acquitred property of a Hindu female shall be inherited by her: Spouse,Children (you and sister, equally).

In your case Only if ClassI heirs are not present ClassII (Sister etc) shall come inot picture.

Your wife or children or mother have no forced share in your self earned/acquitred property in your life time.

You and your mother can dispose your self acquired/earned in your life time,as it pleases to you say by valid/registered deed say: WILL/Gift/Sale/Mortgage/release/relinquishment etc.......

If you decease unmarried and without leaving a valid WILL then your estate shall be 100% inherited by your mother and if your mother is not present then ClassII legal heirs shall inherit it.

Since the proerty is under mortgage you can not Gift/Sell/Mortgage/release/relinquish etc, until it is free from encumbrance/loan/mortgage.

If the property under mortgage is inherited legal heirs in case of unfortunate event of death of owner then the legal heirs can own after paying the debt...........................and in case of unfortunate event of death one of the joint holders, the legal hiers/other holder-owner, can own after paying the debt

If you want to leave a WILL register it preferably.

Hoep this clarifies, your query.