Legal Question in Real Estate Law in India
Hi,
I own a flat as a joint holder along with my brother and sister. I want to ensure that my share of the property is inherited by my wife and son. Currently I have not given any nomination for that property and also I have not made a "Will".
What are the steps to be done legally so as to make my wife and son as the beneficiary of that property. Also, please let me know if I can gift that joint property to my wife.
Thanks
3 Answers from Attorneys
You must take action while you are around for effective disposal of your share in the property. However consult a local lawyer for knowing who will be legal heirs in the event of your intestate death. Properly registered document can ensure that your loved ones get their due share of your property without any disputes. [email protected]
you may execute a will or you may partition the property and then execute gift deed in favour of your loved ones.
May be a Will or Gift
A Will is effective after death.
A Gift is effective immediately.