In their life,no charge on parent`s self acquired property. And only on their intestate death, property will inherit in children.
Creating charge on the property of father/mother in case of defaulting legal heirs
1. can we create a charge on the property of parents that can be received by the son/ daughter by way of natural act , such as death or otherwise. 2. this property owned by parents can be by inheritance or otherwise too. 3. whether this charge can be initiated when the parents are alive too.
Asked 6 years ago in Property Law
Religion: Hindu
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8 Answers
same query in case muslim religion.
Asked 6 years ago
During parents lifetime they are absolute owner of self acquired property
2) son / daughter cannot create any charge on property
3) Charge is where immovable property of one person is made security for the payment of money to another. It refers to the security for securing the debt, by way of pledge, hypothecation and mortgage.
4) parents consent is necessary for creating charge on property
Only the owners of the property can do the same and not others
1. Children have no inherent "claim /right of any kind" on Parent's self-acquired properties, while parents are alive. This has been upheld in several court judgments.
2. Deceased Parents property has to first transferred /mutated on basis of parents WILL (if available) or on basis of a Court order, before any legally enforceable charge /liability /surety /whatever .... can be created.
Hi,
In general case, the parents property is inherited by son. But, to avoid issues in future, you are suggested to keep parents as co-applicant in loan application and make them equally liable to repay the loan. This way, you may create the charge on their property as well.
1. No, there is no provision in law because the law of succession will automatically operate upon their intestate death.
2. The proeprty owned by them can be disposed by them in any manner they may desire and decide during their lifetime which cannot be stopped by their children as a right at least not during their lifetime.
3. No, there is no provision in law for that.
there no provision in law. if property is self acquired by parents permission or consent to dispose or alienate or transfer or sell the same to anyone of his choice as per desire.
No you cannot create any charge on property of parents during their life time.
