My wife and I bought a flat together, taking out a joint loan. To show my parents some love, I added their names to the ownership documents. Can I be the sole beneficiary of their portion of the property? Would my siblings have any claim on it after my parents pass away?
Best Answer
Under Indian law, adding your parents’ names to the property documents creates joint ownership. You cannot be the sole beneficiary of their portion as they are co-owners. Your siblings would have a claim on their share after your parents’ death, unless your parents have executed a will specifically bequeathing their share to you.
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