LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sivaji (NA)     27 April 2014

Joint ownership + settlement question

My father recently passed away.  No Will.  He and my mother jointly owned two flats (documents do not specify what type of joint ownership).  Legally, I understand that she automatically inherits the two flats (one occupied by her and one by my married sister, rent-free).

My questions are:

1.  What specific actions do we have to do to get both property documents to show just her name in case of future sale, etc.  I'd like specifics such as visit Tashildar office and fill out form 123, etc.  There's nothing on the Internet about this. 

2.  I understand that settlement is the best way to go to transfer property in Chennai (reduced stamp paper, avoid probate, bribes, etc).  My mother would like for my sister and I to share the property equally after her.  However, one of the properties is 20-25% more valuable than the other.   Can she now settle BOTH properties JOINTLY on my sister and I?  My sister and I will resolve the valuation and sharing issue after my mother's lifetime.

3.  Can my mother's settlement contain clauses for revocability?  I understand there is some protection under the Senior citizen's Act but I'd like for her to have the right to sell her property in case she needs the money for medical expenses during her lifetime, etc.   ALTERNATIVELY, could we create a settlement deed (once question 2 is resolved) and not register it during her lifetime but register it after her time.   


I do not have a lawyer and will get one once I have an understanding of the above issues.

Sorry about the repost.  I'd earlier posted this in the Civil forum with no response..

Thanks in advance!

 



Learning

 8 Replies

adv.raghavan (Advocate,9444674980)     27 April 2014

she can go for settlement deed  for both the properties,favg you to two people with life settlement. and it has to be registered now for her convenience,If it remains unregistered till her life time and after that, by virtue you both will become owners of those properties.

Sivaji (NA)     28 April 2014

Adv. Raghavan - Thank you for your response!   A more basic question - Does my mother get the properties automatically without any further action or is half of the property shared between my mother, sister and I? 

adv.raghavan (Advocate,9444674980)     28 April 2014

I do not under stand the context of this question, but by virtue your mother gets all the property held jointly by your father and mother, after your fathers demise. Now it has become your mothers own property, she has the right to do what ever she wants. You people have little say on this.

Sivaji (NA)     28 April 2014

Well, another lawyer in Chennai told me that since the property was jointly owned by my parents, my mother gets her half and the other half would be split equally between (1/6th each) her, my sister and I.  We would have to register release deed to release the house in her favor.  Hence my question. 

Thanks for your clarification that's NOT THE  CASE.   Procedurally, what does my mother have to do establish full rights?  - File death certificate with registrar, etc??  - Or does she not have to do anything at all? 

jayakumar.R (ADVOCATE & LEGAL CONSULTANT)     28 April 2014

Sir Better you go for Release Deed, Stamp Duty also similar as Settlement deed, because Only half share of the joint ownership property your mother  having absolute right another half share your mother you and your sister entitled for 1/3 share (after death of your father as per succession act your mother , yourself and your sister are I Class legal heirs) 

adv.raghavan (Advocate,9444674980)     28 April 2014

tenancy by the entirety n. joint ownership of title by husband and wife, in which both have the right to the entire property, and, upon the death of one, the other has title (right of survivorship). 

adv.raghavan (Advocate,9444674980)     28 April 2014

if your father had left any will, favg you people regarding his share in that property, you can claim the same . In the absence of the of above u have little chance to claim.

Sivaji (NA)     28 April 2014

Mr. Raghavan and Jayakumar - Thanks for your responses.  It looks your responses are in conflict.   The sale deed from the builder to my parents does not state the type of joint ownership (tenancy by entirety, etc.) but I assumed they would jointly own the property and the survivor gets the entire property.


I'd appreciate further discussion with the esteemed legal community here and resolution to this issue (whether my Mother owns the property completely or not). 

The intent within our family is to settle both properties collectively on my sister and I and we can resolve the division later.  My mother will have life interest in the property.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading