Dear Client, the following are the answers to your questions.
What becomes of your house after your death?
Because the house belongs to you and you happen to be Hindu, as per the Hindu Succession Act, if you pass away intestate (i.e., without a will), your wife and children are legal heirs and will inherit the property as per the law. Your wife would not become the sole owner automatically but would have a share along with your children.
How to include your wife's name in ownership now?
The most typical and simplest method is to make a Gift Deed in favour of your wife, giving either full or part ownership in your lifetime. The process is:
- Prepare a gift deed mentioning the property and share given to your wife.
- Give required stamp duty (3% in Maharashtra for gift to spouse) and registration charges.
- Register the gift deed at the local Sub-Registrar's office with the presence of both parties and witnesses.
- Modify municipal and society records to show joint ownership.
This makes your wife a co-owner as soon as today, securing her rights and preventing future troubles.
How to make sure your daughter will inherit the property after you and your wife are no longer around?
You must make a Will where you stipulate that upon your and your wife's death, the property shall devolve specifically in your daughter's favour. A Will supersedes intestate succession and prevents quarrels among heirs.