I have property jointly in name of me and my mother, i have to add my mother name as i was applying for bank loan and since i was unmarried the bank officials told me to add my mother name as co-applicant and later i have to add my mother name in the property as this was conditioned by the bank to obtain the housing loan. i have paid the bank loan and my mother has passed away. i want to sell property, in this case do i have take my siblings signature that they have no right on the property. please advise.
On mother demise her 50 per cent share in property would devolve on you and your siblings
2) your siblings can execute relinquishment deed to relinquish their share in property
3) it should be duly stamped and registered
4) apply for mutation of property in your name
5) then sell the property
Yes your siblings and father if alive have to relinquish there right in favour of you through registered deed . A relinquishment deed need to be prepared and register with sub registrar then you shall be sole owner of property. Then you can freely sell it.
Co-applicants are jointly responsible for repaying a loan and co-owners jointly own and share the rights to a property. Banks insist that all co-owners be co-applicants to safeguard their (bank's) interest but the reverse is not true. Thus it is in the hands of co-applicants to make sure that they take steps to safeguard their own interests especially if they contributing to repaying a loan.
In the case of a dispute like if the co-applicant is not a co-owner s/he will have no right over the property despite having the obligation to repay the loan. If the applicant passes away and the co-applicant is not a co-owner there are bound to be legal hassles.
In your case she was not only the co owner but also the co applicant. Therefore she also has a share.
Therefore you have to obtain noc from your relatives.
Regards
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1) Yes, you have to NOC from your siblings.
2) Firsr your siblings name will be added on flat and later relinquish deed on your name to be made.
Yes , you need to take relinquish deed from your siblings in favour of you, because they have right on mother's share in property
Apply for mutation of property by which property transferred on name of you and your siblings then after you can sale
Your siblings are entitled to a rightful share in your mother's share in the property if she is reported to have died intestate.
For whatever reason she had been made a joint owner hence all her legal heirs, i.e., your siblings are also successors in interest, hence they may have to be included as party to the sale and the registered sale deed have to be executed jointly or your siblings have to execute a registered release deed relinquishing their rights in your mother's share of property in your favor.
Subsequently you can sell the property as an independent seller as an absolute owner with marketable title.
The property of the mother is inherited to all the siblings.
There are two ways to claim the property title by you:
1. You have to make a relinquishment deed my all other siblings to get the title of the property in your name.
2. You have to file a civil suit in the court for the claim of title of the property based on the documents and payout for the property in case it is not contested by the other siblings you will get the title of the property easily.
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Dear client,
If property is self acquired and full consideration paid by you than siblings have no claim. No NOC required.
1. There is no reason why the Bank persons had advised you to add your motrher's name as joint purchaser of the property while availing loan from the Bank.
2. However, as things stand now, your mother is 50% owner of the said property which will not be shared by all your siblings alongwith you.
3. So, you shall have to ger a relinquishment/settlement deed registered by all your siblings in your favour for claiming sole ownership of the said property.
If entire bank loan was paid by you then you are the exclusive owner of the property
Your mother was only added on insistence of bank and did not contribute anything for purchase or repayment of loan
So you need not take NOC of siblings
But a buyer will still insists for it
So if you have good relations with your siblings then you can take NOC from them
Yes. Since your mother was a joint owner as per the sale deed, you can't sell her share without prior consent of her legal heirs. At present all the legal heirs of your mother are joint owners in her share of the property.
But if your mother has left any Will, her share will go to the person/s in whose favour the Will was drawn. So if the Will was drawn in your name, you can get her share of the property.
