residential flat with my father as co-owner
5 years ago
I have purchased a flat with my father as co owner. although the full payment was done by me but on his demand i got him added as co owner during purchase. what should i do to ensure that he cannot transfer his rights to my sisters after his death. my mother is also stays with us. sisters are married.
A.Dear Client,
Your points are well taken.
Taking in to consideration, inform all the sisters ( married or unmarried), your mother etc about the decision you have taken by adding him as co owner as per his wish in order to avoid problem in future.You never know who will die first.Death of God never follows the serial number of the persons in the Q.He simply chooses and picks.
Hope this would solve the problem for the time being.
Shanti Ranjan Behera
Advocate
Your points are well taken.
Taking in to consideration, inform all the sisters ( married or unmarried), your mother etc about the decision you have taken by adding him as co owner as per his wish in order to avoid problem in future.You never know who will die first.Death of God never follows the serial number of the persons in the Q.He simply chooses and picks.
Hope this would solve the problem for the time being.
Shanti Ranjan Behera
Advocate
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Shreyash Mohta
Responded 5 years ago
A.Sir, as per your query, You and your father are the owners of the flat. It is immaterial that who has paid the money and who has not paid the money. According to the documentation part, it will show that both you and your father own the property jointly and severally.
According to the Transfer of Property Act every joint or co-owner has a proprietary right of the entire property. Hence, any sale has to be done with the consent of all co-owners involved. If, however there are specific conditions in the agreement that gives co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion to whom he chooses.
Assuming in your case such provisions are not there then your father cannot sell the property to anyone without your consent. On the other hand even you need to have the consent of your father to sell off that property to any XYZ person as he is also a co owner of that property.
If in case either of the one dies. Then the surviving co owner/Joint owner [as the case maybe] becomes the sole owner of the property. [provided that the person before dying did not transfer his ownership to another person] in that case he/she shall be the co owner and the same rule will be applicable again.
Hope this helped.
Shreyash Mohta
According to the Transfer of Property Act every joint or co-owner has a proprietary right of the entire property. Hence, any sale has to be done with the consent of all co-owners involved. If, however there are specific conditions in the agreement that gives co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion to whom he chooses.
Assuming in your case such provisions are not there then your father cannot sell the property to anyone without your consent. On the other hand even you need to have the consent of your father to sell off that property to any XYZ person as he is also a co owner of that property.
If in case either of the one dies. Then the surviving co owner/Joint owner [as the case maybe] becomes the sole owner of the property. [provided that the person before dying did not transfer his ownership to another person] in that case he/she shall be the co owner and the same rule will be applicable again.
Hope this helped.
Shreyash Mohta
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A.Dear Sir,
Take a release deed from your father in respect of his share in your favour and thus prevent him from transferring his share to other person.
For full procedure contact me on mobile through Vidhikarya.
Take a release deed from your father in respect of his share in your favour and thus prevent him from transferring his share to other person.
For full procedure contact me on mobile through Vidhikarya.
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