You have nominated your wife in your demat account, bank account, office provident fund and your wife is a co-owner of your house in the building society.

So you think you do not need a will, right?

Wrong. If your daughter in law goes to court all the properties will be divided as per the Hindu Succession Act, because you died Intestate.

Why did I say ‘your daughter in law’ because nobody thinks that their son or daughter will! What a Noble thought, and how wrong.

If you have a house and your wife is a second owner, please understand that the property DOES NOT AUTOMATICALLY PASS ON to your wife. Building societies are managed by people voluntarily – and have NO RISK OF being punished for delays. So they CAN and many times do:

ask for a NOC from all the possible stake holder

one stupid Secretary asked for a NOC from the dead man’s brothers too

ask for a court order before transferring (Probate!)

one secretary told the wife (widow) – What if they come tomorrow and claim so I need a noc (notarised) from your children FOR executing the nomination.

I can assure you that there is NO consistency in the stand taken by the so called secretary.

What is the best thing to do?

Make a nomination (be very clear) saying My wife holds 50% of the property, it is a Joint property and here is my WILL…..that this property should go her. She should become the 100% owner of the property….

If ┬áthe value of the property is TOO MUCH make sure that your daughter in law will not have her killed for the house (of course your son will not)….

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  1. What happens if the husband & wife die within a short space of time or together as in an accident………what do the children or child do?

  2. Subra Sir,

    But in india even a probate will take lot of time, I know of cases where registered wills were contested for 5-6 years by family members, & the points remain the same (undue influence & Not of sound mind), just too many, i am not sure what is the perfect & clear way for creating a will which is not contested (My father is a lawyer but yet to get any answer))

    The best way that I can think of is creating a pass through partnership firm between the people with the property to be willed as part of Firm’s property which makes it beyond doubt.

  3. i have a flat in a co-op housing society. My husband also has a flat in the same building. We are the nominees for each other. We also have 2 daughters – and both the daughters are nominated also. The nomination says ‘In case the 1st nominee is no more, the second nominee becomes the owner’. Is this legal? Is this fine?

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