Hi I purchased a flat, by a bank loan, for my elderly mother many years ago. The flat is jointly in my name and her name. I am a nominee on the flat. The understanding was that she was meant to will her share of the flat to me. But given the difficulties in our relationship recently, I have no way of knowing if she has done so and maybe she has willed it to my sisters. In order to ensure that the flat eventually comes to me is having my name as nominee good enough, or do I need to pay stamp duty and transfer it entirely to my name. Most advice given to me suggests transferring the flat soon in order to avoid legal battles later.

Ans: In this situation, while the nomination paper registered in your favor with the housing society indicates your mother's intent for her share of the flat to be transferred to you in the event of her demise, it may not be sufficient to legally transfer her ownership rights to you while she is alive.

To transfer her 50% share of the flat to you during her lifetime, it's advisable to execute a gift deed. A gift deed is a legal document that formally transfers ownership of property from one person to another without the exchange of money. By executing a gift deed, your mother can legally transfer her share of the flat to you, and the deed will serve as evidence of the transfer.

Consulting with a legal expert or a property lawyer experienced in real estate matters would be prudent to ensure that all legal requirements are met and to facilitate the smooth transfer of ownership rights. They can guide you through the process and help draft and register the gift deed according to the applicable laws and regulations in Navi Mumbai.

Ans: In case of death, legal hair becomes owner of property, unless they surrender their rights in the said property. Please contact consultant for more information.

Ans: 1. A NOC from your mother and brother will certainly help for sale and avoiding future disputes. NOC is a simple process with no major complications.
2. Transferring the flat from you to your mother will entail a stamp duty cost depending upon where the property is located.
3. Selling in your mother's name will increase the slab limit by certain amount so that is better but stamp duty as referred above will be applicable.
4. You can either reinvest in a residential property or NHAI/ REC bonds.

Please take your CAs advice before moving ahead.