Hello,
I am the co-owner of a property that is jointly owned with my mother-in-law.
Initially I was the sole owner and later I became the co-owner with a help of a gift deed of 50% undivided rights to my mother in law. We have constructed a house consisting 2 units on this property.
Now we have a mutual understanding that the house in ground floor belongs to mother in law and the house in top floor belongs to me. All the bills like Electricity and Water and Khata are in the name of both of us.
Now is it mandatory to go for a partition deed?
If we go for a partition deed, do we need to get the electricity water bills updated?
Do we need to get individual khata?
What happens to property tax? Should it be paid separately?
Note: The property is in Bangalore.
Thanks in advance.
Ramki
