Gifting your asset equally

Your property-related legal queries answered by S.C. RAGHURAM, Partner, RANK Associates, a Chennai-based law firm

November 25, 2022 05:53 pm | Updated 05:53 pm IST

My wife owned a flat in an eight-apartment complex. She is no more. I obtained the death certificate and legal heir certificate. The legal heir certificate shows my name and my two daughters’ names in order. I have some queries not related to each other.

1. How do I go about it if we (three legal heirs) decide to change the property in person’s name (preferably on my name till I live, then to my elder daughter till she lives (without selling right) and finally to my grandson.

2. How many flats should there be, and any other criteria, for the forming of an association in an apartment?

3. My house is on a plot measuring 3000 sq.ft. I would like to gift it equally to my daughters. What is the procedure for sub-division of a plot measuring 3000 sq.ft. and to further gifting it to my two daughters equally.

V. Subramanian, Chennai

1. Your wife’s property will devolve on yourself and your daughters in equal shares as per succession laws, in the absence of any Will executed by your wife. No separate documentation is necessary. You have to transfer the revenue records (property tax assessment, water tax and electricity connection) in the names of the legal heirs. If the intention of all three of you is that the property has to be transferred in your name, they can execute release deeds to this effect, provided they are majors. Thereafter, you can execute a Will or a Deed of Settlement stipulating any lawful condition you may want to impose on further ownership and enjoyment.

2. Under the Tamil Nadu Societies Registration Act, seven members are required to form an association. Under TN Apartment Ownership Act, five members can form an association. You can register under either enactment.

3. For subdividing your plot, you have to obtain permission from Corporation of Chennai (if the land is within corporation limits) or the local body (if outside limits). Thereafter, you can execute Deeds of Settlement in favour of your daughters.

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