Transfer of flat
Sanjiv Malhotra
(Querist) 27 June 2013
This query is : Resolved
Myfather in Law had booked and subsequently taken possession of a flat under construction in Pune. The entire ownership of the flat in the books of the Builder is obviously my FIL's. Subsequently last year through a fully stamp duty paid and registered Gift Deed my FIL gifted the said flat to his daughter ( my wife). Now the querry : We have found a buyer for the said flat and are entering into the requisite sale deed etc. Since the flat is still in the eyes of the builder in my FIL's name, can the builder charge transfer charges for transfering the flat due to the gift deed in my wifes name and then charge transfer fees for selling to our prospective buyer ??
Advocate M.Bhadra
(Expert) 27 June 2013
No he can not,if your wife sell the property then the expenses will born by prospective buyer.
The process of registration involves the submission of transaction documents (copies) to the required governmental officer for preservation. Once the stamp duty has been paid on a document, it has to be registered under the Indian Registration Act (1908) with the Sub-Registrar of Assurances of the locality of the property. Unless this procedure is completed, the investor does not have full ownership of the property.
Sanjiv Malhotra
(Querist) 27 June 2013
all i asked was , do we have to pay transfer charges twice, we are okay with one... but two transfers, kindly help out
Devajyoti Barman
(Expert) 28 June 2013
The sale agreement with your father in law is the key to answer this query.
Some developer do take penal amount if the property is changed in hands within a year or two. if there is no such clause then the developer can not claim anything form you.
Rajendra K Goyal
(Expert) 28 June 2013
On the basis of the gift deed by your FIL, the builder should transfer the flat in your wife's name.
If provision in agreement exist, the builder can charge name transfer charges from your wife, while changing name from FIL to your wife.
While selling the flat the transfer expenses are to be paid by the prospective buyer.
ajay sethi
(Expert) 28 June 2013
builder will not transfer flat in name of your wife without payment of transfer charges . similarly if flat is sold by your wife he will again charge you transfer charges
