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Author Topic: Property rights of wife  (Read 454 times)

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Offline Shocked01

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Property rights of wife
« on: March 09, 2016, 05:37:21 AM »
My Husband owns a row house at pune which was purchased before marriage with no nomination specified. We have been married for 8 years now and have son of age 3 years. My In-laws stays along with us. There no problem with anything as of now but just wanted to know if anything goes wrong do I have any right on his property?

Offline Shocked01

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Re: Property rights of wife
« Reply #1 on: March 09, 2016, 05:38:44 AM »
I do work in a company with good salary and also have another flat with owner as my husband and co-owner as myself (In this I have paid 80% amount and husband paid 20%).

Offline rajgopal sripathi

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Re: Property rights of wife
« Reply #2 on: March 10, 2016, 08:40:40 AM »
In your row house property, in an unlikely event, the property will devolve on you, your 3 year old son and your husband's mother.
Likewise your husband's share of 20% will vest in you, your 3 year old son and your husband's mother.
Actually , it is time that all property owners make efforts in succession planning for properties.

Registered Will is one solution which can be done right now and right today.
Also keep aside 5-6% of market value of your property in FD's as even if you write a will, your successors will need to pay 5-6% of prevailing market price as stamp duty and registration charges for transferring their property.
 
other options include Gift deed , partition deed etc for which time and age of legal heirs should be appropriate.

I am seeing many unfortunate incidents and from my experience i tell all my friends , colleagues, clients to start succession planning exercise today so that our legal heirs are not suffering another loss(loss of relative itself a big loss and loosing property is double whammy)
Rajgopal Sripathi
Mobile:9704772200
email:rajgopal@legalwin.in

 

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