Flat was purchased jointly by our parents. Sadly our father passed away. My brother and I are the following legal heirs of our deceased father. Can Society transfer full ownership to our mother if we brothers give NOC to society for transfer of flat and can our mother then sell the said flat?
Asked 3 years ago in Property Law from Kharghar, Maharashtra
The share certificate can be transferred to your mother if both of you execute a deed of relinquishment in her favour. Thereafter, she will be at liberty to sell the flat and pocket the sale proceeds in entirety.
1) Yes, with your NOC there society can transfer the flat in your mother's name.
2) As your mother is 50% owner+1/3rd of the other 50% for making a sale of the flat by mother you have to sign as conforming parties. You too have acquired a share (1/3) in the 50% as your father passed away without a will.
3) Alternately by a registered family settlement deed you can relinquish your right in favour of mother and she can make a sale.
1) society can transfer flat in favour of your mother on receipt of NOC from brothers
2) it is better brothers execute gift deed or relinquishment deed in favour of mother so that she becomes absolute owner of flat and can sell the same
Mere NOC is not enough as with the death of your father both of you have become its undivided 1/6th share holder.
The brother will have to execute a deed of gift or relinquishment to make mother the absolute owner of the flat.
You should understand one thing that transferring the shares of the flat by the society to your mother is different from the title of the property being transferred n her name fully through registered deed.
Society can transfer the entire shares of the property on her name by obtaining NOC from all the legal heirs of the deceased who owned the property jointly with your mother.
For transferring the property on your mother's name by a registered deed, both the legal heirs should execute a registered release deed relinquishing your rights in the property that belonged to your deceased father in your mother's favor upon which she will become the absolute owner of the property.