valuation of the property

Querist : Anonymous (Querist) 16 May 2011 This query is : Resolved

Dear sir
My mother is likely to acquire two row houses through sucession of his brother since he expired on april. The query is to understand the valuation since we had paid some money as a bond in the court proceeding based on the paper value in which it was originally
purchased on 1996 thinking that my mother who is the only sister with blood relation and my uncle being unmarried when he expired and she will be acquiring this as a gift.
But now we had got a letter from the collector office in chennai stating that they will be visiting to confirm the value mentioned .\
pl give your expert advice if my mother is to acquire the property through gift is it that we have to revalue it as per present value and its locality and pay the defecit amount or what we had initially paid as a bond based on the purchased document is correct pl reply

Regards
R_PVK

Follow Query

Report Abuse

R.Ramachandran (Expert) 17 May 2011
Dear Anonymous,
You say that your mother has to acquire two row houses through succession. But you are also talking about stamp duty?
I am afraid, you are not coming out with complete facts.
Whether there any other relatives of your uncle living, other than your mother?
Who was owning the said two row houses?
In what circumstances you paid the bond money and why? What was the court case that you are talking about? Who filed the case and against whom and what was the prayer in the case?
Only after knowing these details, it will be possible to give an answer.

Chanchal Nag Chowdhury (Expert) 17 May 2011
U have not stated whether the succession is testamentary or by intestacy. In case of the former,CF will have to be on the valuation. In case of the latter,she will only have to mutate her name in the land records & the court has nothing to do with it.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries