Transfer of flat
kmr
(Querist) 20 June 2013
This query is : Resolved
In 2006 my father transfered 1BHK FLAT in mulund mumbai measuring 320sqft in my name i.e. son's name with one application for transfer of membership of society & transfer documents & my father died in 2008. In AGM Society transfered share ceritificate in my name & they are issuing rent receipt in my name. In 2005 father had nominated my mother 50% & me 50% share .I have 3 sisters, they have NO OBJECTION for the above transfer. I want to know whether the above transfer is legal or how can i make it legal, whether stamp duty has to be paid or can the above transfer be cancelled & fresh application be submitted with NOC from sisters. so that stamp duty can be avoided. Thanks in advance for guidance
ajay sethi
(Expert) 20 June 2013
father ought to have executed sale deed or gift deed in your favour . transfer of share by mere application for transfer is not sufficent . society has to set aside transfer as due process of law not followed . transfer flat in name of nominees . obtain NOC of sisters .
Rajendra K Goyal
(Expert) 20 June 2013
Agreed with the expert, the transfer is without gift or sale, the suggested procedure is to be followed.
kmr
(Querist) 22 June 2013
Thanks for your reply .I forgot to add, that presently i am Committee member of that society. Will I have to resign first & get the above procedure done
Raj Kumar Makkad
(Expert) 22 June 2013
There is no need fro resignation from the post rather you are required to get execution of a gift deed from your sisters which shall require stamp duty.
ajay sethi
(Expert) 22 June 2013
the transfer of flat itself is illegal . it is better you resign as committee meber . once transfer is set aside by society you cease to be a meber of the society . on following hte procedure mentioned above you can become a member of the society and be elected to managing committee
kmr
(Querist) 24 June 2013
If society has to set aside transfer as due process of law not followed as per your above suggestion then Is the matter has to be raised in society AGM or can the monthly Committee members meeting decide on the above issue & how can i convince the managing committee that the above procedure is to be followed, Our society lawyer has given the option given by above expert Raj kumar makkad,in that case i have to spend 1.5 lakh.
ajay sethi
(Expert) 24 June 2013
it has to be placed on agenda of the AGM . the transfer of membership from father to son without any agreement being entered into is illegal .
kmr
(Querist) 08 July 2013
Thanks for your valuable reply, Specially Mr. Ajay Sethi . Lawyer appointed by Our society has now agreed to transfer flat in my name as per NOMINATION & set aside previous opinion of,( execution of a gift deed from sisters with payment of required stamp duty ), which at first he had given option to me. Now my problem is, My dad had made my mom 50% (1st NOMINEE) & me 50% (2ND NOMINEE) , Can Lawyer transfer it in my name by taking Relinquishment Deed of my Mom & taking NOC of my sisters. Is the procedure OK & Stamp duty not necessary in this case?
ajay sethi
(Expert) 08 July 2013
thanks for your appreciation . please note nominee is only a trustee for benefit of all legal heirs .
in order to safeguard your interests take relinquishment deed from your sisters . it attracts nominal stamp duty as executed in favour of close family member . your sisters wont be able to create problems in future .
kmr
(Querist) 09 July 2013
Thank you very much once again for your quick reply. How much will be the approx stamp duty for 40 lakh government rate property value.
ajay sethi
(Expert) 09 July 2013
for relinquishment deed it is nominal as i pointed out . read provisions of bombay stamp act .
kmr
(Querist) 09 July 2013
Thank you very much.
kmr
(Querist) 24 July 2013
As per your guidance I had prepared all necessary documents with stamp duty & gave RESIGNATION from the post of committee member, but now the existing committee is not ready to except my resignation on the pretext that only 1 year is balance to complete full term of our committee & that REDEVELOPMENT process started by our committee will come to a standstill. They are ready to complete the above procedure of correcting my TRANSFER by taking the matter in AGM to be held on 4/8/13 . Now my question is 1) Staying on Committee & completing above procedure. is it valid 2) should i take acknowlegment that i have Resigned from the post but they are not accepting 3) Is there any other solution. please guide me. Thanks
kmr
(Querist) 26 July 2013
As per your guidance I had prepared all necessary documents with stamp duty & gave RESIGNATION from the post of committee member, but now the existing committee is not ready to except my resignation on the pretext that only 1 year is balance to complete full term of our committee & that REDEVELOPMENT process started by our committee will come to a standstill. They are ready to complete the above procedure of correcting my TRANSFER by taking the matter in AGM to be held on 4/8/13 . Now my question is 1) Staying on Committee & completing above procedure. is it valid 2) should i take acknowlegment that i have Resigned from the post but they are not accepting 3) Is there any other solution. please guide me. Thanks
