Stamp duty


My relative  and his three brothers built a building on a  univided property .In sanctioned plan they have divided the building into four storey naming the each  storey by the individual names . They  have not made any memramdom of understanding .Now the one of the brother wants to make a will for the  flat .The lawer said that partition on the paper is necessary and that requires stamp duty . Is this true? On sanstioned plan there is a partiton  of storey  so still it needs partition deed on paper with stamp duty ? The stamp duty is heavy for  each one.

with regards 

S.V.SATHE

 
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FIN

It is felt that the lawyer has given wise advice to partition by boundaries and register the deed an rule out future misunderstanding and altercations and litigation.

Stamp duty is state subject and you may inquire locally at LOCAL SRO.

You may also inquire about registered Family Agreement/settlement deed.

 
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FIN

The evidence of occupation and enjoyment of respective share may be carefully maintained.

The testator can dispose his/her share by WILL and preferably register IT.

The said sanctioned plan and concurrence of each Co-sharer on IT may ne narrated in WILL.

If workable the other parties may sign WILL (evidence towards their concurrence) and/or may be supplied copy of WILL under proper acknowledgment.

 
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