Dear learned lawyers in this forum, seasons greetings to all you'll. I had a simple query regarding a gift deed issue. My parents owned a flat in Mumbai within a co-operative housing society. They have made a voluntary and unconditional, irrevocable gift deed in my name in the year 2007, which has been relevantly stamped, registered. They have also signed the relevant society formality papers to be given to the Society relinquishing their rights and making me the absolute title holder and valid member of the Society. Now, I have a old pending legal dispute with the Society in a civil court regarding some terrace repair issues. Rest there is absolutely no issue with the Society and this gift deed is no way connected to that dispute. But, because of the case filed on them, the Managing Committee of the Society has threatened me that they will harrass us in everyway till we withdraw the case and are also forcibly asking for legal fees spent by them. Knowing for sure that they will not complete the formalities of transferring the flat in my name and keep the deed in abheyance till I fulfil their demands, I have not informed the MC about the deed till date. Now I wanted to know:
1> Suppose if I die before submitting the deed to the Society will the property titlles pass on to my wife and children straightaway w/o any hindrance (the deed is in the safe keeping of my wife)?
2> Is there that the Society can raise issues saying why the deed was not presented for so long for transfer purpose?
3> Is it neccesary for me to give a declaration while presenting the transfer papers to the Society that it was my personal wish to keep the flat in my parents name till they are alive and then only expose the deed?
4> Will it be neccesary for my parents to mention again in their final will that they have already gifted the flat to me with details of deed etc.?
An early answer to the above queries will be highly appreciated!
Sincerely,
Alistair
