Transfer of property
Nandini R. Bhatkar
(Querist) 17 February 2017
This query is : Resolved
Father has given permission to his son to construct house in his plot. The construction permission is in the name of both father and son and for bank loan of son father is coborrower. But in fact son is repaying the loan and also beard entire construction cost. Father has no contribution in this construction. Now in the assessment list of municipal corporation name of both father and son recorded. Father wants to remove the name from assessmnt. Please tell me which document is correct whether sale deed of 1/2 share in the constrction or release deed of half share.
M V Gupta
(Expert) 19 February 2017
For purpose of assessment the MC goes by the title deed of the land. If ur father wants to delete ur name in the assessment record he may rely on the sale deed under which he purchased the property.
Madhava Rao Gorrepati
(Expert) 24 February 2017
it can be said like this. Father is the owner of the land. son developed it and constructed a building. what was the agreement then, even oral? son now wants his share only. but father is not giving his share. let the son go for his share. usually the builder takes 60 percent and he owner takes 40 percent both in the land and structure. but the agreement can be on terms agreed upon.
