Legal Question in Consumer Law in
one person nominatted his flat to 3rd son 50% rest two sons were 25% each;while person hold his flat jointly with his wife. His wife didn't nominatted anybody or not sign on nomination form submmitted by her husband & her name is second in agreement. Now person was died few month ago. His son(who nomiantted by decased person for 50%) &wife applied for transfer of share certificate to himself. while his mother is flat owner(jointly with person who expired.) Now share certificat should be transfer to wife or son?
2 Answers from Attorneys
in this case, wife will continue to owner of 1/2 share. it is 1/2 share of husband - father which will be divided amongst three sons in 2:1:1 that is 1/2 share of father will be divided as 1/4 (50% son)
and 1/8 (25% son) and 1/8 (25%) son. so, the share certificate will be in four names, mother (50% -1/2) son (25% - 1/4 or 50% of 1/2) son 12.5% - 1/8 or 25% of 1/2) and son 12.5% - 1/8 or 25% of 1/2).
Mother or wife share will not be affected.. First she is alive, second she has not nominated and nomination comes into play after the death
in case the husband transferred in favour of sons, the wife, despite being co owner, has no right to challenge the transfer as the rights and liability of both the husband and wife are same and in the eyes of law, husband and wife considered to be a single legal entity and their rights and liabilities are joint.
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