Transfer of property in my name
Querist :
Anonymous
(Querist) 17 April 2011
This query is : Resolved
My parents are residing in Delhi.They are dependent on me.Both of them are above the age of 60 yrs.Now ,To avoid any litigation after death,i am thinking to get a registered will from them.We are 4 sisters & myself(only son).There are a few properties situated in Delhi and U.P.registered in their name Basically I had contributed the most at the time of purchase.Due to foolishness of mine I had advised them to registered in their name.Now I want to transfer these assets back to my name by least expensive way,as i come to know that after the death probatment is require in case of "will" .Suggest
Kiran Kumar
(Expert) 17 April 2011
convince your parents and let a proper will be prepared and it must be registered as per law.
if they otherwise want to make partition and intend to transfer the property to your name, that is also a good option....it may come out to be a bit costly affair but you will be saved from future litigation.
Jitendar Kumar gupta
(Expert) 17 April 2011
it is a wisely thing that you have to get the property of your parents.
for that you have to do some home work for that mail me:
J.K.Gupta Adv.
New Delhi
9868529732
guptajkin@gmail.com
R.Ramachandran
(Expert) 17 April 2011
You can get an appropriate WILL prepared and get it registered. Once registered, there will be less difficulty in getting the same probated. For this please consult a lawyer and get the WILL prepared properly.
Querist :
Anonymous
(Querist) 18 April 2011
Hi thanks for your advise.
I am little bit confused as I had paid the max. amount at the time of purchases.My parents are ready to give declaration regarding this & I have bank statements regarding transfer of fund.Is there any way to transfer the title of properties?
R.Ramachandran
(Expert) 18 April 2011
Dear Anonymous,
There is no place in law for sympathy towards you or anybody.
Only through sale or through Gift, the property can be transferred in your name. While Sale Deed will involve both sale consideration and Stamp duty on the value of the property, The Gift deed will not involve consideration but will involve stamp duty as applicable to the Sale Deed.
Therefore if you have to avoid the above two situations, the only other way is to get a REGISTERED WILL in your favour with two witnesses. As already indicated above, the WILL has to be properly drafted to avoid any future complications.
