I bought a flat in Bangalore jointly with my mother under bank loan (1.5years ago before my marriage). Now I'm married and have a son and my wife is living separately and she is planning to claim my share of the property based on recent women's law amendment (right to 50% share in husband's property even if acquired before marriage). Now I would like to know how to safeguard this property from any possible legal action in future. Its hard earned and I'm still repaying it with my salary and the property is under threat. Even though the property is under hypothecation can the family court interfere in its ownership. I understand I can't transfer my share until the loan is repaid. I would like to have a fool proof system in place so that this property is left untouched in future even if I reconcile with my wife. Its self earned and not inherited.
Can I have a settlement or relinquishment deed in place to give my share to my sister? Also by this move, I no longer will have any rights over this and by this the family court can't interfere with this property.
I don't want to divorce her and want to take care of my kid but at the same time I don't trust her and her family. I may reconcile which is a 50-50% possibility. But at any cost I want to safeguard this property even in future.
