FinanceLane
  • Funding
    • Equity Funding
    • Debt Funding
    • Crowdfunding
    • Real Estate Funding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Commodities
    • Forex
    • Private Equity
    • Real Estate
    • Crypto Investing
  • Lending
    • Personal Loan
    • Business Loan
    • Mortgage
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Health Insurance
    • Auto Insurance
    • Education Insurance
    • General Insurance
  • Banking
    • Individual Banking
    • Business Banking
    • Investment Banking
    • Neo Banking
    • Payments Bank
  • Crypto
    • Crypto Coins
    • Crypto Trading
    • Bitcoin
    • Blockchain
    • DAPP
    • Crypto Investing
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Payments
    • Digital Banks
    • Alternative Financing
    • Asset Management
    • Softwares
  • Venture
    • Startup Ecosystem
    • Merging & Acquisition
    • Equity Investing
    • Franchising
    • Business Offers
  • Login
No Result
View All Result
  • Earning
  • Savings
  • Investments
  • Budgetting
  • Credit Management
  • Tax Planning
  • Retirement
  • Advisory Lane
FinanceLane
Home News Feed Advisory

How to safeguard property rights of senior citizens

FinanceLanebyFinanceLane
May 6, 2022
in Advisory, Investments, News Feed, Savings, Tax Planning, Wealth
Reading Time: 4 mins read
, ET Online|

Updated: 06 May 2022, 09:23 AM IST

1/5

What are the rights of senior citizens

Many senior citizens are unaware of their legal rights to reclaim property transferred to children and to seek removal or eviction of their children or relatives from their property. Although 15 years have elapsed since the enactment of the Maintenance and Welfare of Parents and Senior Citizens Act in 2007 (Senior Citizens Act) which grants such rights, the awareness of such rights remains low.
(Text by Shaishavi Kadakia and Radhika Parthasarathy. The writers are advocates.)

Getty Images

Transferring property to child

2/5

Transferring property to child

Under the Senior Citizens Act, a senior citizen may gift or transfer their property to a child with a condition that the child will provide basic amenities or physical needs to them. If the child fails to do so, then the senior citizen parent has the right to approach a Maintenance Tribunal established under the Senior Citizens Act to declare the gift or transfer as void on account of it being deemed fraudulent, coercive, or as made under undue influence.

Getty Images

Reclaiming property

3/5

Reclaiming property

To protect their rights, senior citizens planning on gifting property to their child should consider including an express condition in the gift/transfer deed that the child will maintain them. If the child violates this condition, then the parent can approach the Maintenance Tribunal to declare the gift void and return the property to the senior citizen.Some courts have even observed that an express condition is not required in the deed and as such, a condition may be implied when a parent gifts property to a child out of love and affection or in lieu of services. However, it would be preferable to include such an express condition so that there is no scope for ambiguity.Notably, only a gift or transfer made after the enactment of the Senior Citizens Act in 2007 will be subject to its benefit.

Getty Images

Evicting children from property

4/5

Evicting children from property

Although the Senior Citizens Act itself does not provide for eviction/removal from property, Indian courts, including the Supreme Court, have permitted eviction/removal of the children or relatives from the property of senior citizens in case of harassment or non-maintenance.Courts have also ordered removal of children from the parents’ home when children have resorted to harassing their parents to transfer the property to them on the ground that they are the future legal heirs. Eviction/removal of the child from the property has also been upheld if a child has entered into an agreement for the transfer of property on fraudulent grounds to harass an aged parent.

Getty Images

Protecting your rights

5/5

Protecting your rights

The rights of the senior citizen will have to be balanced against the rights of the person sought to be evicted under other laws such as the Protection of Women from Domestic Violence Act, 2005, to avoid injustice. Thus, where a daughter-in-law is sought to be evicted, the Tribunal or court would ensure that her rights under the Domestic Violence Act are not overridden by the rights of the senior citizen under the Senior Citizens Act. (Text by Shaishavi Kadakia and Radhika Parthasarathy. The writers are advocates.)

Getty Images

Read more on

Source Link

Related Topics

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Prev Next

You May Like

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Advisory

Bank FDs vs post office term deposit: Which offers senior citizens higher interest rate for short term

Blockchain

Crypto.com Offers Google Pay and Apple Pay Support for Canadian Users

Blockchain News

Coinbase Introduces PayID and Premium Services for Aussie Retail Customers

Blockchain News

Yuga Labs Sets Up BAYC Community Council to Boost Innovations

Advisory

Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter

Bitcoin

Bitcoin Crosses $20K Mark, as Whales Continue to Accumulate Tokens

Financial News

Advisory

How to update date of birth in Aadhaar

FinanceLane
by FinanceLane
Advisory

These banks offer highest interest rates on 5-year FDs

FinanceLane
by FinanceLane
Blockchain News

Crypto is Very Dangerous, Says Anne Boden of Starling Bank

Blockchain
by Blockchain
Advisory

Bank holidays in August 2022: Check the full list here

FinanceLane
by FinanceLane
Blockchain

Animoca Brands Partners with OliveX to Run Allowlist Campaign for Dustland Runner

Blockchain
by Blockchain
Advisory

PM Kisan 11th instalment of benefit: How to raise complaint if you have not received the instalment

FinanceLane
by FinanceLane
Bitcoin

Nium Pairs with Bitpay to Launch API-based Solution, Enhancing Crypto Payments for Business

Blockchain
by Blockchain
Blockchain News

Digital Trader BHEX.SG Receives Standard Payment Institution License from MAS

Blockchain
by Blockchain
Blockchain News

Taliban Launches Crackdown on Crypto Use in Afghanistan

Blockchain
by Blockchain
Bitcoin

Crypto Tax Automation Platform Koinx Secured a $1.5M Seed Round

Blockchain
by Blockchain
Advisory

ICICI Bank, Bank of Baroda hike interest rates of repo rate linked home loans; EMIs to go up

FinanceLane
by FinanceLane
Advisory

Top 5 exchange crypto rates platforms

FinanceLane
by FinanceLane
Load More
FinanceLane.com
  • Disclaimer
  • Privacy Policy
  • Terms of use
  • Subscribe
  • Contact

Subscribe to get the latest updates

Follow us on

© 2022 FinanceLane.com. All rights reserved.

  • Home
  • Funding
    • Equity Funding
    • Debt Funding
    • Real Estate Funding
    • Crowdfunding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Private Equity
    • Merging & Acquisition
    • Real Estate
  • Lending
    • Personal Loan
    • Business Loan
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Auto Insurance
    • Education Insurance
    • Health Insurance
  • Banking
    • Business Banking
    • Payments Bank
    • Investment Banking
    • Individual Banking
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Alternative Financing
    • Payments
    • Asset Management
    • Digital Banks
    • Softwares
  • Fintech
    • Alternative Financing
    • Asset Management
    • Digital Banks
    • Softwares
    • Payments
  • Crypto
    • Crypto Investing
    • Crypto Trading
    • Crypto Coins
    • Bitcoin
    • Blockchain
    • DAPP
  • Subscribe
  • Contact
  • Login

© 2022 FinanceLane - Terms and Conditions | Disclaimer | Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.