• Joint ownership

Can be prepare sale deed for joint ownership as either or survivor
Asked 4 years ago in Civil Law

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10 Answers

1)sale deed can be executed for purchase of flat in joint names

2) it cannot be either or survivor

Ajay Sethi
Advocate, Mumbai
87212 Answers
6048 Consultations

5.0 on 5.0

Yes, it is totally valid in the eyes of law.

In fact there are number of transactions which involve the aspect as yours.

Sanjay Baniwal
Advocate, South Delhi
5464 Answers
13 Consultations

5.0 on 5.0

Yes you can purchase the property for joint ownership as either or survivor.

The word transfer as defined in Section 5 of the Transfer of Property Act does not prohibit transfer of property by invoking either or survivor clause. The definition under Section 5 of the said Act, reads as under:-

Section 5 - Transfer of property defined -

In the following sections "transfer of property" means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself and one or more other living persons; and "to transfer property" is to perform such act

In this section "living person" includes a company or association or body of individuals, whether incorporated or not, but nothing herein contained shall affect any law for the time being in force relating to transfer of property to or by companies, associations or bodies of individuals. 7.3. As per the provisions of Section 5 of the said Act, transfer can be made to one or more other living persons. How the one or more living persons would take the property is the matter of contract between themselves. Therefore, just because the purchase is by invoking either or survivor clause, that cannot operate as an impediment for the plaintiff to get title, if otherwise he is entitled to that.

The sale deed is purely, inter se between the parties with regard to title, at the time of purchase of immovable property, is purely contractual between the purchasers inter se. Either both of them may claim joint title or one of them may relinquish title in favour of the other.

Shubham Jhajharia
Advocate, Ahmedabad
25518 Answers
171 Consultations

5.0 on 5.0

Your query is very ambiguous but I presume you want to know whether a sale deed can be executed jointly, the answer to which is an emphatic YES.

Ashish Davessar
Advocate, Jaipur
30759 Answers
958 Consultations

5.0 on 5.0

This is not a bank account for such an arrangement, the joint ownership; means both are entitled to 50% share in the property.

There can be no either or survivor arrangement in the registered sale deed.

T Kalaiselvan
Advocate, Vellore
77366 Answers
1458 Consultations

5.0 on 5.0

what ?

Yogendra Singh Rajawat
Advocate, Jaipur
21482 Answers
31 Consultations

4.4 on 5.0

There is no such provision in law. The sale deed will be in your joint names.

Swaminathan Neelakantan
Advocate, Coimbatore
1838 Answers
18 Consultations

4.9 on 5.0

1. Yes that can be done

2. Mention specifically in the deed that on the death of any joint owner, his share will go to the surviving joint owner and not to his legal heirs

3. But one thing needs to taken care of then. What would happen if both joint tenants die simultaneously? Should their respective shares in the property go to their respective legal heirs? If yes then do those legal heirs hold the property as joint tenants or tenants in common?

4. So it's better to become co-owners or tenants in common rather than joint tenants. If anyone co-owner dies, then his share would go the legal heirs. If the co-owner do not want that, then a Will can be executed wherein the share can be bequeathed to the surviving co-owner. This would take care of your concern

Yusuf Rampurawala
Advocate, Mumbai
6818 Answers
73 Consultations

5.0 on 5.0

Sale deed can be prepared but both the parties should be mentioned in the same and registered.

Prashant Nayak
Advocate, Mumbai
26719 Answers
79 Consultations

4.4 on 5.0

You can do one thing after making joint ownership deed you can make a joint will in favor of each other. So the question of lagal heirs will not arise.

Vinaykumar Kherodkar
Advocate, Navi Mumbai
24 Answers
1 Consultation

4.8 on 5.0

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