Hi. Can my mother of two sons get her will registered for a residential property with half share each for both her Sons. Now the property was registered in mother's name in year 2000 for 15 lacs. A loan was taken by the younger son for 12 lacs to finance the property. This loan was in due course paid off.
Now mother in present situation is aged and wants to will her property equally to both her sons. Can she go ahead with registered will. Also what other documentation needs to be done so that there is no dispute in future among brothers.
Ans: Yes, your mother can get her will registered for the residential property, allocating half share to each of her sons. This process involves several steps to ensure that the will is legally valid and that there are no disputes in the future.
Steps to Register the Will
Drafting the Will: The will should clearly state her intention to divide the property equally between both sons. It should include specific details about the property, such as its location, registration details, and any other pertinent information.
Appointment of Executors: Your mother should appoint one or more executors in her will. Executors are responsible for carrying out the terms of the will. It is advisable to choose trustworthy and impartial executors.
Witnesses: The will must be signed by your mother in the presence of at least two witnesses who are not beneficiaries in the will. The witnesses must also sign the will, confirming that they saw her sign it.
Registration of the Will: Although not mandatory, registering the will with the local sub-registrar’s office is highly recommended. This provides a legal safeguard against future disputes. The process involves:
Visiting the local sub-registrar’s office.
Submitting the will along with required documents (proof of identity, proof of residence, etc.).
Paying the registration fee.
The sub-registrar will then record and register the will.
Additional Documentation and Steps to Prevent Future Disputes
To further ensure there are no disputes in the future, consider the following additional steps:
Family Settlement Agreement: If both sons agree, your mother can draft a family settlement agreement. This agreement can state that both sons have agreed to the equal division of the property and that they will respect the terms of the will. This should be signed by all parties involved and can be notarized for added legal strength.
Declaration of No Objection: Both sons can sign a No Objection Certificate (NOC) stating they have no objections to the property being divided equally as per their mother’s will. This can be attached to the will or kept as a separate
Consulting a Lawyer: It is advisable to consult with a property lawyer to ensure that all legal formalities are correctly followed. The lawyer can help draft the will, the family settlement agreement, and the NOC to ensure they are legally binding.
Updating Property Records: Once the will is registered, ensure that the property records reflect your mother’s ownership clearly. This will prevent any claims of ownership or legal complications in the future.
Informing Family Members: Make sure that all family members, especially the beneficiaries, are aware of the will and its contents. Transparency can often prevent misunderstandings and disputes.
Summary
Your mother can proceed with registering her will to divide her property equally between her two sons. The will must be drafted properly, witnessed, and ideally registered with the sub-registrar’s office. Additional steps, such as a family settlement agreement and a No Objection Certificate, can provide further assurance that there will be no disputes in the future.
By following these steps and seeking professional legal advice, your mother can ensure her wishes are respected and that her sons can receive their shares without any legal complications.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in