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Flat received through Gift deed from parent in Mumbai
4 months ago
1) Does a son/daughter who receive the flat through registered gift deed done by a parent becomes the self acquired flat owner in Mumbai ?? 2) IF so then the new self acquired flat owner son/daughter has the legal right to cancel nomination of his/her flat done by him/her as owner and bequeath the flat to a charitable organisation in future through registered will informing the Co-op society secretary. Is cancellation of nomination in thsi case possible.
A.Dear Client,
1) When a son/daughter receives a flat through a registered gift deed from a parent in Mumbai, the legal status of whether the flat becomes self-acquired or ancestral depends on various factors, including the source of funds and intention of the parent. If it's clearly established as a gift, it may be considered self-acquired, but legal advice specific to your situation is crucial.
2) If the son/daughter becomes the legal owner through the gift deed, they generally have the right to deal with the property as they see fit, including canceling a nomination and bequeathing the flat to a charitable organization through a registered will. However, the specific terms of the cooperative society's bylaws and any potential restrictions on such actions should be considered. Legal consultation is recommended to ensure compliance with all relevant laws and regulations.
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1) When a son/daughter receives a flat through a registered gift deed from a parent in Mumbai, the legal status of whether the flat becomes self-acquired or ancestral depends on various factors, including the source of funds and intention of the parent. If it's clearly established as a gift, it may be considered self-acquired, but legal advice specific to your situation is crucial.
2) If the son/daughter becomes the legal owner through the gift deed, they generally have the right to deal with the property as they see fit, including canceling a nomination and bequeathing the flat to a charitable organization through a registered will. However, the specific terms of the cooperative society's bylaws and any potential restrictions on such actions should be considered. Legal consultation is recommended to ensure compliance with all relevant laws and regulations.
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A.Dear Client,
A donee/receiver when gets a property from the Donor by way of a registered Deed of Gift, the property is classified as self-acquired property in the hand of the donee/receiver that gives the owner of the self-acquired property an unfettered right to deal and/or dispose of the property as he or she likes. Since the flat is governed by the bye-laws of the Society registered under the Maharashtra Cooperative Societies Act, 1060, you need to obtain an NOC from the Society either for cancellation of nomination or for bequeathing the flat in favor of a charitable organization.
A donee/receiver when gets a property from the Donor by way of a registered Deed of Gift, the property is classified as self-acquired property in the hand of the donee/receiver that gives the owner of the self-acquired property an unfettered right to deal and/or dispose of the property as he or she likes. Since the flat is governed by the bye-laws of the Society registered under the Maharashtra Cooperative Societies Act, 1060, you need to obtain an NOC from the Society either for cancellation of nomination or for bequeathing the flat in favor of a charitable organization.
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A.Dear Sir,
Answers to all of your questions are in positive. On getting the property under gift the donee will become absolute owner and do whatever he likes.
Answers to all of your questions are in positive. On getting the property under gift the donee will become absolute owner and do whatever he likes.
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