Can I bequeath my property to solely certainly one of my youngsters?

—Title withheld on request

You’re entitled to bequeath all of your property to any particular person of your selection, be it any of your youngsters or a 3rd occasion. Additional, no NOC is required to be obtained from any of your youngsters for executing your will within the method you deem match and correct. Nonetheless, please observe that the way wherein your property could be bequeathed additionally will depend on the private regulation that’s relevant to you on the time of your loss of life. Therefore, we recommendation that you simply contact a lawyer who can help you in executing a will conserving in thoughts the suitable regulation that’s relevant to you.

I personal a bungalow in Mumbai. Now, I would like my spouse to be the co-owner of the bungalow. Is it attainable to take action with none form of consideration or do I’ve to draft a will and bequeath the bungalow to her?

—Title withheld on request

There are two methods to switch 50% of the possession of your bungalow in favour of your spouse with out passing any form of consideration.

If you wish to do that throughout your life time, you possibly can execute and register a present deed in your spouse’s identify such that fifty% of the rights within the bungalow are transferred in your spouse’s identify. On the time of execution and registration of the present deed, you can be required to pay the relevant stamp responsibility, metro cess and the registration charges on the present deed.

Within the occasion that you simply wish to switch the rights of the bungalow in your demise, you possibly can execute a will specifying that fifty% rights for the bungalow ought to be transferred to your spouse upon your demise. Nonetheless, on this case, we’d recommendation that you simply additionally point out the way wherein the stability 50% entitlement within the bungalow will likely be handled.

Sagar Kadam and Mitali Naik are companions at DSK Authorized.