Adding owner to exsiting Flat owners

Q: hi Team,

May I know how many flat owners can added to an existing Flat owner.
Right now me and my wife are registered owners of our flat , may I know
can I add my Father also as owner of this flat?
if yes whats the process of doing it.

Regards
Rahul

Gaurav,

13th July 2016

Legal in Noida

adding owner to exsiting flat owners

transfer of flat ownership

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Replies (3)

Hi Gaurav!!!
Existing flat owners may transfer their flat ownership to immediate family members if the proposed owners meet all eligibility conditions. If there is more than 1 proposed owner (maximum 4 owners can be allowed for each flat), they would need to decide on the manner of holding the flat upon the transfer of ownership, whether by joint-tenancy, or tenancy-in-common.

Hemant, Noida

14th July 2016

Comment

Yes, and you can add your father as owner of your flat by Transfer of Flat Ownership Act. But before submitting an application for the transfer of flat ownership, existing and proposed owners should consider the following: 1) Eligibility conditions, 2) Finances required.

Submit application for transfer of flat ownership with the required supporting documents to the managing HDB Branch for assessment and approval. An appointment to complete the transaction will be scheduled approximately 10 weeks* after HDB receives the application and required documents.

Anup Goyal, Noida

14th July 2016

Thanks Hemant!!

Gaurav,

15th July 2016

Thanks Anup!!

Gaurav,

15th July 2016

Hi Gaurav!!!
You believed that it would only take a letter to the housing society to add your father as co-owner in the share certificate. Do you know that the large amount of paperwork, in addition to the substantial cost that it would entail, will made you change your mind. You will have to take permission from various authorities and would have to pay transfer charges to complete the process which will come around Rs. 80000-1 lakh.

Mukhesh, Noida

14th July 2016

Comment

I am agree with Mukhesh.......adding another owner to your property is a weighty decision, and not just in terms of cost. One of the biggest disadvantage is that once the deed is made, any transaction related to the property would require the consent of the co-owner as well. So, consider carefully before taking this step.

Tushar Sinha, Delhi-NCR

14th July 2016

thanks Mukesh!!

Gaurav,

15th July 2016

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Arnab Banerjee,

13th July 2016

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