Can I bequeath my property to solely thought-about certainly one of my youngsters?
I’m a 65-year-old woman and have two sons. Can I draft a will bequeathing all my belongings to my elder son who takes care of me? Do I need a no-objection certificates (NOC) from my youthful son?
—Name withheld on request
You are entitled to bequeath all your property to any specific particular person of your choice, be it any of your youngsters or a third social gathering. Further, no NOC is required to be obtained from any of your youngsters for executing your will throughout the technique you deem match and proper. However, please bear in mind that the way in which by which your property is perhaps bequeathed moreover is set by the personal regulation that is related to you on the time of your demise. Hence, we suggestion that you just simply contact a lawyer who will help you in executing a will sustaining in ideas the acceptable regulation that is related to you.
I private a bungalow in Mumbai. Now, I would like my partner to be the co-owner of the bungalow. Is it attainable to take motion with none type of consideration or do I’ve to draft a will and bequeath the bungalow to her?
—Name withheld on request
There are two strategies to change 50% of the possession of your bungalow in favour of your partner with out passing any type of consideration.
If you want to try this all through your life time, you presumably can execute and register a gift deed in your partner’s title such that fifty% of the rights throughout the bungalow are transferred in your partner’s title. At the time of execution and registration of the current deed, you will be required to pay the related stamp accountability, metro cess and the registration expenses on the current deed.
In the event that you just simply want to swap the rights of the bungalow in your demise, you presumably can execute a will specifying that fifty% rights for the bungalow must be transferred to your partner upon your demise. However, on this case, we would suggestion that you just simply moreover level out the way in which by which the steadiness 50% entitlement throughout the bungalow shall be dealt with.
Sagar Kadam and Mitali Naik are companions at DSK Legal.
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