Basically grand mother should execute will bequeathing flat to your mother .
2) will should provide that your mother shall pay 20 per cent of market price of flat as per ready reckoner rates to your uncle
My grandmother is the owner of the flat currently where I stay with my widowed mother and my wife and children. We want to file fresh flat nominations keeping in mind that in case of my grandmothers eventuality the flat could be distributed in the proportions of 80% to my mother and 20% to my uncle (who stays abroad NRI). Now we've same point covered in my grandmothers WILL in-place which also includes an option to purchase the flat by giving 20% of share to my uncle thus amicably retaining the flat. Now in such a case, How should we nominate in percentages e.g my mom:uncle - 80:20% or my mom-100% or uncle-100% to avoid any future unnecessary transfer problems or registration fees or tax charges.
Basically grand mother should execute will bequeathing flat to your mother .
2) will should provide that your mother shall pay 20 per cent of market price of flat as per ready reckoner rates to your uncle
It will be as per the grandmother will strictly. As she was the owner no other intention will prevail upon.
1. Nomination in Housing Societies just give "tentative & provisional membership" and does NEVER give any title-ownership for for futuristic purpose of Sale /Gift/ Lease /Mortgage /Donate /Whatever ....
Visit following link, for basic understandings:
https://chshelpforum.com/nomination-in-chs
2. A will is a final document and can have respective clauses as desired by the Will maker. Will for properties in Mumbai has to be compulsorily be probated in High Court, for it to be legally enforceable.
3. While being alive the property owner can execute registered Gift Deed, in favor of desired persons, with strategic clauses of the share ratio to be given to whom and conditions.
Hi,
On the basis your inputs here, you are suggested to mention the shares of mom:uncle as 80:20 only.
In my opinion you should go for your mom 100 percent share ane conclude the property in your mothers name to avoid any future discrepnecies, if you have sufficient funds available with yourself. Else way is 80-20 mom- uncle respectively. In the end of the day it have to be fully transferred either in your mother name or the uncles name as the case may be..
The nomination in the flats or apartment association can be made by submitting the prescribed application form in which the names of the nominee proposed may have to be mentioned fresh.
You may note tht the hare certificate of the flat is not the title document.
Hence whether you mention the percentage of share for each nominee in the application form or not, it will not make any difference.
The Will, if enforced, in which the percentage of share has been mentioned, shall act as a title document, by which you can mutate the property accordingly.
See if there is will then in that case nomination is not necessary as the succession shall be as per the will.
Further more grand mother can apply before the society to update the nomination. See can fill the nomination form and update same.
- The Maharashtra Co-operative Societies Act, allows a member to nominate a person or persons , to whom his/her share and interest in the co-operative society will be transferred by the society in the event of the member's death.
- Further, a legal owner of the property can nominate to her legal heir /beneficiary , and cannot nominate to a non Indian Citizen.
- Hence, as per the Act, two nominee can be nominate with the share of 20 & 80 .
- Since, the uncle is an NRI , hence , moms 100% share is better option , to avoid any future unnecessary transfer problems , and registeration purposes as well.
Grand mother have to execute Will without any influence and free will.
80 % to mother 20% to son. Get it registered so that validity of Will may not be question.
Or grandmother can execute gift deed in her life time to avoid any future and present complications.
In Will this can be given that if uncle want to sell his share than prior right to purchase will be of mother.
And If 100% share to uncle or mother than either will be sole owner, hence not advisable.
Or 100% to mother and in return mother will pay for 20% to uncle to effective bequest for 20% share otherwise 20% shall be of uncle.