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By:

C.S. Krishnamurthy

21 June 2025 at 2:15:51 pm

Parents Before Property

The Bombay High Court’s recent decision upholding the cancellation of a gift deed executed by elderly parents in favour of their son is more than a legal victory. It is a timely reminder that parenthood cannot be reduced to a property transaction. By affirming that parents may revoke a property transfer when children fail to honour their obligation of care and support, the Court has reinforced a principle that is both legal and moral. The verdict in the Ashwin Ramesh Soni v. Ramesh Bachaulal...

Parents Before Property

The Bombay High Court’s recent decision upholding the cancellation of a gift deed executed by elderly parents in favour of their son is more than a legal victory. It is a timely reminder that parenthood cannot be reduced to a property transaction. By affirming that parents may revoke a property transfer when children fail to honour their obligation of care and support, the Court has reinforced a principle that is both legal and moral. The verdict in the Ashwin Ramesh Soni v. Ramesh Bachaulal Soni & Ors., reinforces the objective of the Maintenance and Welfare of Parents and Senior Citizens Act, 2007. The Court recognised that when parents transfer property with the legitimate expectation of being cared for, and that expectation is wilfully defeated, the law can restore justice. A gift founded on trust cannot survive when that trust is fundamentally breached. The judgement raises uncomfortable questions. What does it say about society when ageing parents must seek justice against their own children? Why should those who devoted a lifetime to raising families spend their twilight years proving that they deserve dignity? Have we begun to mistake inheritance for entitlement and affection for convenience? Changing Times These are not merely legal questions. They reflect the changing character of Indian families. India takes pride in its tradition of strong family bonds. Close-knit families, cherished traditions and an enduring culture of honouring parents have long defined our collective identity. Such images have long symbolised the country’s cultural strength. But growing reports of elder abuse present a sobering reality. Many parents experience neglect, emotional humiliation or isolation within homes they built. Some are confined to a single room after transferring property. Others are abandoned altogether. The emotional trauma often outweighs the financial loss. The ruling recognises what may be called an unwritten family contract. Parents spend decades sacrificing personal comforts to educate children, fund their ambitions, conduct weddings and build family assets. In return, they expect not luxury but companionship, care, respect and emotional security. By acknowledging that certain family transactions rest on mutual trust rather than legal formalities alone, the Court has reaffirmed that the law will protect vulnerable senior citizens when that trust is exploited. Reports frequently describe retired parents evicted from homes gifted to children, widowed mothers fighting prolonged legal battles for shelter, and elderly couples seeking police protection against their own offspring. Many such cases remain hidden because families fear social stigma more than personal suffering. Family Trust The Maintenance and Welfare of Parents and Senior Citizens Act, 2007 was enacted precisely because traditional family safeguards were proving inadequate. Section 23 empowers authorities to declare property transfers void when they are made on the understanding that the recipient will provide for the transferor's basic needs, but subsequently fails to do so. The verdict has given practical meaning to this safeguard by making it clear that the law will not remain a silent spectator when trust is betrayed. Some critics argue that legal intervention weakens family relationships. The opposite is true. Good laws exist not because every family fails but because some do. Just as traffic laws protect responsible drivers from reckless ones, laws safeguarding parents protect families from exploitation without diminishing genuine affection. But society also has responsibilities. Financial advisers should caution senior citizens against transferring valuable assets prematurely. In many situations, a well-drafted will offers greater protection than an outright gift deed. Where property is transferred during one's lifetime, expectations regarding care and maintenance should be clearly documented to minimise future disputes. Children should remember that caring for ageing parents is not charity. It is gratitude expressed through everyday actions. I recall meeting an elderly gentleman at a bank several years ago. He proudly showed me documents transferring his house to his only son and remarked with complete confidence, “Now I have no worries. My son will take care of everything.” His face reflected absolute trust. Thankfully, countless children justify such trust every day. But when that faith is broken, the emotional consequences can be devastating. Indian culture has long viewed caring for parents as a privilege, not a burden. Honouring parents goes beyond living together. A caring phone call, a visit during illness, financial support or shared moments can bring comfort, dignity and belonging. Loneliness often wounds seniors more deeply than disease. When parents must approach courts for protection from their own children, it is time for society to introspect. (The writer is a retired banker and author. He can be reached at krs1957@hotmail.com. Views personal.)

New Financial Year - Five Tips

As the new financial year 2026-2027 begins, it is the perfect time to reassess your financial goals and make smart decisions to build a strong foundation for the year ahead. The following five strategies can help you take better control of your financial future.


Whenever I talk about investments below, I mean a combination of mutual funds, direct stocks, and gold. These are essential for beating inflation and achieving your long-term goals, especially those beyond three years. For short-term goals, you can stick to bank fixed deposits and recurring deposits.


1. Increase your SIPs

Systematic Investment Plans (SIPs) are a disciplined way to invest. If you have not increased your SIP contributions in the last 12 months, or after a recent salary increase, promotion, or job change, now is a good time to review and increase them. Your SIPs should ideally account for at least 30% of your monthly in-hand income. Consistent investment habits help you manage current expenses while building long-term wealth. It is important that your investments not only beat inflation, but also help maintain and improve your standard of living over time.


2. Make lumpsum investments

If you have excess funds that you will not need for the next three years, consider making lumpsum investments. Idle money gradually loses value because of inflation, so it is important to put surplus funds to work wisely. Beyond SIPs, keep making lumpsum investments regularly whenever surplus money is available.


3. Health insurance

Health insurance is a critical component of any sound financial plan. To protect your savings and long-term financial goals, it is essential to buy personal, comprehensive health insurance that offers sufficient coverage and the necessary features. Do not rely only on your employer’s health insurance plan.


4. Term life insurance

Term life insurance is an essential product to provide financial security for your loved ones. If you do not already have a term plan, make it a priority to get one. If you do have one, assess whether your coverage is sufficient in relation to your income and financial goals, and increase it if needed. Term insurance is a cost-effective way to protect your family in case of an untimely death and ensure their financial stability.


5. Engage a financial advisor for comprehensive planning

If you have not yet worked with a financial advisor, the new financial year is a good time to start. A professional advisor can help you create a personalised plan by assessing your financial goals and covering various investments. A well-educated, full-time financial professional brings the necessary education, wisdom, experience, and expertise to help you achieve your financial goals.


By implementing these strategies at the beginning of the financial year, you can put yourself in a stronger position for financial success and long-term security.


(The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

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