Sale of Joint property in which Co-Owner is dead
Hi, I am planning to purchase a property (resale) in Indirapuram, Ghaziabad area.The identified property is a joint one in which there are two people, Mr X and Mrs Y ( X and Y are husband & wife, both are Hindu). Mr X has died in 2007, December.Mr X and Mrs Y has three children (One son and two daughter). Mr X doesn't have any registered will. The document that the son posses is the Death certificate and registry. My question is what all are the essential documents required during purchase of such property and in what ways such property can be legally purchased (like succession certificate, survivor certificate, legal heirs certificate etc) Just a side note, we have already given a minimum token money for the same. So we wanted to know the fastest as well purest legal way in which this deal can be closed.
Thank you so much for writing to us. We would inform that in a joint property when one party dies, his share of property gets equally divided among the other spouse and their children. Here, on the demise of Mr X, his share of property shall be equally divided among Mrs Y and her three children. (Please note that the 2005 amended Hindu Succession law now allows equal share of property to the daughters as well). The property shall vest into the son only when Mrs Y and her two daughters release their share by executing registered release deed in favour of the son. Only then can he sell the property to you.
However, we would also like to advice you to check the registry once and see whether it says that the property of Mr X and Mrs Y was a joint ownership with right of survivorship. If in case (which is a rare chance) it is mentioned that the property was a joint ownership with right of survivorship, than after demise of Mr X, Mrs Y shall be the absolute owner of the property and hence you shall have to buy it from her and not her son.
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