1) your sister can execute POA in your mother or father favour
2) have it duly stamped and registered
3) on expiry of one year from date of delivery of possession your mother or father can transfer the property on basis of POA in your name
Transfer of property
In 2014 , I filled the affordable housing forms with my sisters name, the draw was successful and I bought that flat on my sisters name.since than I am only paying all the installments. Now my sister got married.now I want to transfer flat from her name to my name, but affordable housing rules one can sell or transfer only after 1 year of possession. Now possession is in 2018 june.My query is in worst case scenario, god forbid if anything happen to my sister then this property will automatically transfered to my brother in law, how can I avoid this situation, or what all steps or papers shall I require to get that flat transfered to my name.my sister is willing and will always do that .
Asked 8 years ago in Property Law
Religion: Hindu
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3 Answers
it is admitted fact that all the consideration has been paid by you. you should prepare an agreement that after one year of possession she will transfer this house to you because consideration was paid by you. this agreement is valid however she will get possession in future. if she retract you can easily prove that consideration was paid by you. hence it shall be your property.
Since anything can happen anytime, as a precautionary measure, you may ask her to write a will bequeathing the property to your name by mentioning that since you only funded for the purchase of this property and also she was gifted with many things earlier by you, during the marriage, she would happily bequeath this proerty to your name since it belongs to you alone.
This Will would enable you to acquire the property under such circumstance by enforcing the will. .
