When it is a joint account either account holder can operate the bank account
2) mother gave money to you as gift and your sibling has no share in plot bought with said funds
3) let her take legal proceedings if she so desires
Sharing investment
Father died interstate, mother took VRS from service retirement benefits of both father and mother were transferred to joint account held by mother and father My mother utilised some of the money for my marriage and gave me some money with which I bought a plot of land and currently paying emi on it Now my elder sister says she wants part in the plot as it was bought with father's money,as due to joint account it is not possible to identify who's money was used for what What are legal consequences of this, I want to save my plot
Asked 1 month ago in Property Law
Religion: Hindu
10 Answers
Your father's retirement benefits can very well be identified because it is not a regular income.
Your father's retirement benefit amount shall devolve on all his legal heirs.
Therefore your elder sister can claim a share out of the retirement benefit amount as a right.
1. Since your father died intestate, all his movable and immovable properties are to be divided equally by his Class-1 legal heirs, i.e., his mother (your paternal grandmother)-if alive, your mother, you and your elder sister(assuming that you don't have any other sibling apart from your elder sister). Assuming that your paternal grandmother is not alive and your mother is alive, all your deceased father's movable and immovable properties be shared equally in 1/3rd proportion by your mother, you and your elder sister.
2. You can amicably settle this matter with your elder sister by giving her some money and getting it recorded in the registered Family Settlement Deed or let your elder sister execute a registered Release/Relinquishment Deed for the plot of land in your favour in the jurisdictional Sub Registrar's Office.
The claim of your brother would be very difficult to prove in court the dispute is taken to court.
So if you want you can refuse to part with the plot of land.
1. You have mentioned "........and gave me some money with which I bought a plot of land". How the said money was given to you? Was it transferred to your account or directly paid to the seller of the plot as part of the consideration?
2. If the said amount was paid to your account, then it will be considered as GIFT to you for which your sister can not lay any claim on the plot bought by you by using the said amount gifted by your mother to you.
your sister can legally claim
It is not fathers money but mother which only she entitle to receive after fathers death.
If father dies without will his assets will be equally divided between children she has only right in the amount of father propriety along with father’s debt too and not on plot
Dear client
Here's a breakdown of the situation and potential legal consequences:
Your Sister's Claim:
- Since your father died intestate (without a will), your mother and sister would likely inherit his share of the joint account equally (depending on state laws).
- Your sister argues that part of the money used for the plot belonged to your father, and therefore, she deserves a share in the land.
Your Defense:
- You can argue that the money in the joint account became your mother's after your father's passing.
- You can demonstrate the financial trail: Show documents proving the money you used for the plot came from your mother's gift.
- Proof of EMI payments on the plot in your name strengthens your claim.
Legal Considerations:
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Joint Account Ownership: In most cases, upon a joint owner's death, the surviving owner inherits the deceased's share. This could complicate identifying the source of funds used for the plot. -
Gift Documentation: A documented gift from your mother significantly strengthens your case. -
Intestacy Laws: Each state has its own laws regarding inheritance without a will. Knowing your state's laws is crucial.
Recommendations:
-
Consult a Lawyer: A lawyer specializing in property and inheritance law in your state can analyze your situation and advise on the best course of action. -
Gather Documents: Collect documents like bank statements showing the transfer from the joint account to your account, gift documents from your mother (if any), and land ownership/EMI payment proofs. -
Communication: Try to have an open conversation with your sister. Explain your perspective and show the documents. Perhaps you can reach an amicable agreement.
Possible Outcomes:
-
Agreement: Hopefully, with clear evidence and open communication, you and your sister can reach a mutually agreeable solution. -
Legal Battle: If no agreement is reached, a lawsuit might be necessary. A lawyer can represent you and fight for your ownership of the plot.
Protecting Your Plot:
Having a strong legal case with the documented financial trail and potentially involving a lawyer in communication with your sister can help deter her from taking legal action.
- As per law, after the demise of your father intestate, his assets/funds will devolved upon all the legal heirs equally
- Further, if your mother having joint account , then she is entitled to use the amount and to give you .
- Further , if the said plot was purchase full from the fund of the account, then your elder sister has her right to claim her share in the said property.
- However, as she has also her retirement amount in that account , and as you are paying the emi , then you can produce the proof of fund before the court , in case she files a partition suit .
- She is not entitled to claim any share in the plot.
