Transfer Duty in event of Dealth
hotdoc0
(Querist) 24 April 2010
This query is : Resolved
Hello.
My father expired leaving behind a 50% share in a business and property owned by the business. As the partnerhsip is being dissolved, the 50% share in property is to pass to my mother (the other legal heirs are relinquishing their rights). Will this property need to be mutated or transferred? Also what is the stamp duty/other duties to be paid. As she has inherited the property, is the duty same as fresh purchase or is it different? Please guide.
bhagwat patil
(Expert) 25 April 2010
is the property is in name of partenership firm or joint names of partners?
hotdoc0
(Querist) 25 April 2010
Mr Patil,
The property is in the name of the partnership firm...my father was a 50% partner in the firm and after his demise my mother became the partner. however the new partnership deed has not been registered thus far (4months). I wish to get it registered in my mothers name but see if theres any provision whereby lesser or no stamp duty needs to be paid. Does having a will make a difference?
