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Business News/ Money / Personal Finance/  You can transfer right of undivided house
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You can transfer right of undivided house

You can transfer a certain percentage, say, 25% undivided right, title and interest in the property in favour of your friend by way of a gift
  • This will safeguard your interest of protecting the property from your relatives
  • Simultaneously, you can also make your Will whereby you can bequeath the remaining 75% undivided right, title and interest in the property in favour of your friend. (Priyanka Parashar/Mint)Premium
    Simultaneously, you can also make your Will whereby you can bequeath the remaining 75% undivided right, title and interest in the property in favour of your friend. (Priyanka Parashar/Mint)

    I am a single unmarried woman and own a house in my name. The property was bought in 2004. In the absence of any legal heirs, in order to safeguard the property from my relatives, can I include a trustworthy friend as a co-owner?

    —Name withheld on request

    To safeguard your property from your relatives or any third party, while enjoying the benefits of the same during your lifetime, you can transfer a certain percentage, say, 25% undivided right, title and interest in the property in favour of your friend by way of a gift or by any other mode of transfer. Simultaneously, you can also make your Will whereby you can bequeath the remaining 75% undivided right, title and interest in the property in favour of your friend who already owns a certain minimum percentage. This will safeguard your interest of protecting the property from your relatives.


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    Published: 16 Jul 2019, 03:41 PM IST
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