Hi, We have a residential flat in a co-operative society in Mumbai. This was in the name of my father and on his demise (there is no will) the flat was transfered to the nominees i.e. myself (son) and my mother. I have 2 married sisters and one of them wants her share of the property, she is separated from her husband and staying with us and does not contribute to the household expenses at all. My mother is a stroke patient and now diagnosed with unsound mind and cannot sign. How do we sell the property and give the share to my sister? Any other way out?. Do not have the money to buy out her share.
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1) on your father demise you have one fourth share in flat
2) please note that nominee is only trustee for legal heirs
3) inform your sister that as on date you are unable to sell the flat and pay your sister her share
4) your sister can move court and file suit for partition if she so desires
5) it would take years for suit to be disposed of
A nominee is no more than a trustee of all legal heirs who holds the property in trust for all them. On the intestate demise of your father his widow and children succeeded to his property equally, so your sisters can claim their share in the property. Seek an amicable solution by executing a partition deed.
1. On the death of your father both the sisters , your mother and yourself inherit the property of your father in equal share.
2.So any of them can rightfully claim their due 1/4th share unless they relinquish their respective share by way of deed of release or gift.
3.Now you can either pay the money of their share or sell the property and divide among yourself the the sale proceeds.
4. There is no other way out.
Hi, persons of unsound mind cannot enter in to contract. You and your sisters need to go to court and seek court orders to sell the property in your mother's name.
Hi,
You have not mentioned when & how the property was transferred in absence of will after the demise of your father. Kindly provide full details based on which we can provide you the accurate legal advice as as per the law nominees are only caretakers and not the owners and caretakers don't have right to sell the property.
Hi, For the residential flat there are effectively 4 shareholders where 1 is of unsound mind and cannot sign. Also understand court decree would be required where guardian would be appointed for my mother (cannot sign). How do i initiate the process of creating a partition deed or succession certificate, how much does it cost approximately and time it would take to reach a stage where the property can be legally sold. If there is only 1 earning member in the house who takes care of all expenses does he get extra share as against others who do not contribute anything but legally entitled to full 1/4 share. Presume that all legal expenses can be apportioned to all shareholders equally. The person who is appointed as guardian gets effectively 50% share of property or not( person who takes care of mothers medical expenses and other costs)
1) you need letters of administration from court if father died intestate
2) succession certificate is only for movable property
3) just because one member is meeting household expenses he does not get extra share
4) court fees would be Rs 75000 for obtaining letters of administration . legal fees vary
5) for person who is of unsound mind you would court orders appointing family member as guardian
The property can be partitioned on the basis of a court decree after a deed of partition is drawn up. The permission of court is required to sell the share of the heir who is of unsound mind. Get the partition deed drafted from a lawyer and then file the lawsuit. The share of every heir remains equal even if only one of them takes the financial responsibility of the other heirs who sit idle at home.