Legal Question in Wills and Trusts in India

My husband and I are joint owners of a flat in a Co-op Housing Society in Mumbai India. Both our names appear on the share certificate. I am first and he is second. How should we fill a nomination form?. Our intention is that the surviving partner should get full ownership. Thereafter he/she will nominate one of our children.


Asked on 8/25/13, 12:44 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

25.08.2013

Dear Madam / Sir,

For all practical purposes, only the first named member on the Share Certificate is a deemed member of the Society.

The nomination form has a column for percentage of share when there are more than one nominees. Since you are the Owner, you can nominate your husband with a share of 50%; and the remaining 25% share in the name of your son; and 25% share in the name of your daughter. In this manner, all the family members are entitled to a proportionate share in the property.

Regards,

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Answered on 8/25/13, 1:26 am


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