Transfer of Property
bharat
(Querist) 14 April 2010
This query is : Resolved
My father has Residential cum Commercial property @ Nagpur, Maharashtra acquired
through his own income. He now wants to transfer the same to me (son). Please
advise me on
1. which will be better "will" or "gift" deed.
2. Which will be economical (considering stamp duty, registration, lawer fees
etc.,)
3. Which will be more potent in legan process.
4. If will is made and if it is required to be probated later on then will it
attract any charges.
Raj Kumar Makkad
(Expert) 14 April 2010
Considering all facts, requirements and expenses, I advise you to file a civil suit for declaration to the effect that the aforesaid property belongs to you by way of family settlement and name of your father in the record is fictitious and irrelevant and your father shall admit your claim and thus a decree shall be got passed which revenue authorities shall enter in their record and you shall become owner of the aforesaid property without any expenses.
R.R. KRISHNAA
(Expert) 14 April 2010
A SETTLEMENT DEED is enough to transfer the title to your name. Get it registered.
n.k.sarin
(Expert) 15 April 2010
I do agree with Mr. Makkad jee.
BHANU RASPUTRA
(Expert) 15 April 2010
SETTLEMNET DEED ATTRACT STAMP DUTY. PL. CHECK STAMP DUTY ACT OF THE STATE .
Raj Kumar Makkad
(Expert) 15 April 2010
Bhanu settlement deed executed before court as family settlement do not attract any stamp duty.
n.k.sarin
(Expert) 16 April 2010
Mr. Makkad, family settlement before court or otherwise attract stamp duty, only memorandum of family settlement do not attract stamp duty.
bharat
(Querist) 16 April 2010
Thanks for all the help. Thank you all the expert Sirs and Madam.
I forget to mention that I have a step sister (from my father's earlier marriage, after death of her mother, my father married my mother and we are now two siblings born to my mother & father)
My father stays with me and wants to transfer the property to me only. Kindly suggest me ways so that there will not be any legal problems from my step sister.
If the property is transferred to me by my father by "will" then whether my step sis can challenge the will in court. Whether during probate she can halt the property transfer.
Kindly guide me. Thank you in advance.
n.k.sarin
(Expert) 17 April 2010
Mr Bharat will can be challenged at any time.your step sister has right to challenge the will and she has also right to oppose the probate proceeding.Remember she is a essential party to the probate proceeding.
bharat
(Querist) 21 April 2010
Sir then what is the way out. My father wants to transfer the property to me and we both don't want any further legal hassles. Kindly guide. Thanks again.
