Hello Sir,
Me and my wife are staying separately due to conflicts for the last 12 years but we are not legally divorced. We are still wife and husband but staying separately. We have a Flat taken under join loan from the bank 15 years back. Ever since we started staying separately, since 12 Years I am paying the full EMI for the flat. Since she is co-borrower of the loan, she is also the owner of that flat along with me. 50% of EMI is deducted from my account and 50% of the EMI is deducted from her account on every 5th of the Month. For the last 12 years, I transfer the EMI amount to my Wife account every month along with 11k for her maintenance every 1st of the Month.
Lately I came to know that she is making someone else as the nominee of all her assets [FDs, Gold, locker, Postal, property .etc..]. In case of unfortunate situations [like her demise], will the nominee possess all the assets including 50% of the above said Flat? I have been struggling a lot to pay the EMIs for the last 12 years and I do not want to lose the flat which is earned with my blood and sweat. I am least bothered about her personal assets, but I do not want to lose my Flat to some outsider.
Can you suggest if the Nominee will have the rights to possess the 50% of the flat and own it or will I get the entire Flat since me and my Wife are still legally bonded though we are staying separately? Please suggest.
