Realty factor

My husband has expired. The flat was purchased by me jointly with my husband. Both of us had contributed equally towards the Flat.

Q. My husband has expired. The flat was purchased by me jointly with my husband. Both of us had contributed equally towards the Flat. The Flat in Society’s record is standing in the name of my husband as his name was appearing first in the agreement. I have a minor child. My husband has filled the nomination form in my favour. In Society’s record, my name is already entered as a nominee. I propose to sell the said Flat. Please guide me what all formalities have to be done? I have only one child.

A. First and foremost you should get the Flat in Society’s record transferred in your name. As your husband has nominated you, there should not be any difficulty in getting your name entered in the Share Certificate. I may add that Membership and Ownership are two different concepts. If you want to transfer the Flat in favour of a prospective purchaser, then in such circumstances, you have to obtain permission from the Court. The reason for the same is the rights of minor are involved. In the given case, the share of the minor would be 50% of the share in the Flat of the deceased. Your share in the Flat is 50%. Your husband’s share is 50%. You have to satisfy the Court with documentary evidence that the share of the minor is 25% in the Flat. The Court may put a condition that the proceeds from the sale of the Flat i.e. 25% of the total proceeds should be invested in such a way that the minor’s share is protected.

You can send in your questions to advocate Vinod Sampat with ‘Realty Factor’ in the subject. Send an email to mailbag@mid-day.com and your queries may be answered right here.

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