Intellectual Property Rights: Practice and Drafting by Adv Gautam Matani. Register Now!
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Regarding transfer of property.

(Querist) 02 October 2009 This query is : Resolved 
We are 4 owners to a N.A plot in Chakan(rural pune) and to a plot in MIDC(Ranjangaon).One owner wants to leave with mutual understanding.No financial transaction involved.
1)Do we have to pay transfer fees or registration fees?
2)Is there a cheaper way-out?
3)Can power-of-attorney be made so that the leaving-owner need not come for signing?If yes,I have never made a power-of-attorney.Please elaborate.
Sachin Bhatia (Expert) 02 October 2009
1. If you want to get transfer that property then you have to pay the the transfer fee.
2. Yes there are other cheaper ways.
3.Yes you can get a Power of Attorney from the leaving-owner along with a full and final payment aggrement. This is the cheapest way.
Raj Kumar Makkad (Expert) 02 October 2009
In some States Special Power of Attorney for the purpose of sale is provided only in favour of blood relative so keep this fact also in consideration. better, if the outgoing co-sharer transfers his share by way of court decree showing a settlement and in this way no heavy charges will have to paid in the name of registration charges as well as other allied charges.
SRY (Querist) 02 October 2009
Thank-you Raj Sir!!!

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