Wife soProperty sold to husb in 1995 but stamp duty not paid

Sunita (Querist) 25 September 2018 This query is : Resolved
Hi,
I am considering buying a flat in mumbai build in 1975. Initially it was in the name of husband and wife.

All though both husband and wife lives together but for ease of dealing in 1995 wife transfer the property to husband through sales deed. Stamduty was not paid and registration was not done.

However basis this sales deed society transfer the share certificate in the name of husband in 1995.

Now broker of my owner is suggesting to create a gift deed between husband and wife and registrat the property in the name of husband to clear the property title.

Will this create any problem for us incase we wish to sale it futher as my main concern is share certificate was transferred in 1995 but gift deed will be of today's date. Husband and wife both live together.

Please suggest a legal and easy way out here. Also should I consider such property.

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Dr J C Vashista (Expert) 25 September 2018
Unregistered sale deed is invalid.
Transfer of share on the basis of invalid sale transaction is illegal and invalid.
Get gift deed registered.

Guest (Expert) 25 September 2018
Transfer of shares of the society, as in share certificate, and transfer of property are two different subjects dealt by different laws. Problem cannot therefore be anticipated without detailed examination of the case related documents. If the society has erred in transfer of property also, along with transfer of the shares, the mistake in the society records would be required to be formally rectified, as per the law.

So, instead of being misled by variety of views of the different experts, you may better discuss the problem threadbare with some local expert in property laws as well well as the cooperative society laws by getting the copies of the case related documents examined in detail.