property

Querist : Anonymous (Querist) 21 April 2010 This query is : Resolved
My father has a property which is occupied by him since 1960's without any legal document such as saledeed or anything else. recently city civil court has given an order in our favour on notice u/s 3z (2) of maharashtra slums rehablitation act, saying that the construction of the property is before 1970 and therefore BMC cannot demolish this property. the property is standing on private land.
My father now wants to transfer this property to me, his married daughter but is confused as to whether make a proper sale deed or gift deed in my name. there are documents such as assessment bills, the above order of the court, electricity bills etc. to show that this property belongs to my father. the property is in slum area and is used for commercial purpose by my dad. please advice as to which deed shall he make, sale deed or gift deed to transfer this property in my name.

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R.R. KRISHNAA (Expert) 21 April 2010
Settlement Deed or Gift Deed can be executed by your father.

Querist : Anonymous (Querist) 21 April 2010
thanks.. can u also let me know what documents my father will have to attach the Gift deed and how much stamp duty will it attract. the price of the property is Rs. 10 lacs and in slum area. Also is registration of this deed a must?

R.R. KRISHNAA (Expert) 21 April 2010
There is no title deed/parent documents in your case and only through the decree/order obtained from civil court the above property is going to be transferred to you. Hence nothing needs to be attached. You can draft the deed with the help of any lawyer and register it. Stamp duty varies from state to state.

Querist : Anonymous (Querist) 21 April 2010
thank u..
Well there is another property of my father which is jointly owned by him and my mom in pune. there is a proper previous purchase deed in their name but the collectors records do not show my parents name. we r trying hard to enter their names in the record but its still at bay. he intends to transfer this prop as well to me but will this issue cause any hurdle while executing a gift deed? do i have to register this deed compulsarily?

Raj Kumar Makkad (Expert) 22 April 2010
The registration in the municipality is meant just for the purpose of collection of tax etc and it do not necessarily gives right of ownership. The title deed is a true and legal document for this purpose. So Gift can be made on the basis of original title deed and correction in the record of municipality can be got effected at any time.

Querist : Anonymous (Querist) 23 April 2010
thank u..

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