Family Partition.
Querist :
Anonymous
(Querist) 02 December 2010
This query is : Resolved
Sir / Madam,
This is a case pertaining to HUF flat of my late father which was under litigation in City Civil Court, Mumbai, after his death between his wife [my mother] and son [myself]. There are 4 legal heirs of my father - my mother, myself and 2 married daughters. An amicable settlement was arrived at between my mother and myself wherein both the daughters had relinquished their share in favour of mother as a result of which the flay is to be divided betwee mother and son on more or less 50% basis.
A decree had been obtained from the court after filing Cosent Terms and MOU - both between Mother and Son and Indemnity cum Declaration by both the daughters.
My query relating to the above is:
- Is it necessary to register the Deed of Release which is yet to be prepared.
- Will registration amount be paid on the whole flat or on half flat and what is the maximum limit of registration fees.
- Will the Deed of Release have to be Stamped? Stamp duty had already been paid on the Agreement of Flat during the Amnesty scheme.
- How will the stamp duty be calculated. On the whole flat or on 50% of the flat.
- What type of document should be prepared so as to attract least duty but be fool-prrof - a Deed of Partition OR a Deed of Family Arrangement OR any other document that you may feel proper.
- any other point that may be relevant in connection to the above.
Thanks in advance.
Regards,
Anand
adv. rajeev ( rajoo )
(Expert) 02 December 2010
You could have done it in the suit i.e., compromise decree could have been done. Instead of release deed you could have made your sisters as party to the suit and sisters could have filed memo relinquishing their rights in your mother's name.
If you are going for the relinquish deed, it should be regd., For this I think minimum stamp duty as per the state stamp act.
Devajyoti Barman
(Expert) 02 December 2010
1. After the decree of the court it is not required anymore.
2.Stamp duty differs from state to state.
3. Separate stamp duty will have to be paid.
Since no such deed is required to be executed and registered anymore the further reply to your query is not needed.
n.k.sarin
(Expert) 02 December 2010
The best way,to make a memorandum of a family settlement which is not required any court fees and get decree from the court on the basis of said memorandum.
Querist :
Anonymous
(Querist) 03 December 2010
Gentlemen,
Thanks All of you for your valuable advice.
The gist of your advice, as I understand, is as under :
Now that the Decree is obtained from the Court, Deed of Release is not required. Hence, NO Stamp Duty is payable and NO Document is to be Registered.
A decree obtained from court after filing Consent Terms and MOU - both between Mother and Son and Indemnity cum Declaration by both the daughters, do not warrant any further Agreement. The issue between all concerned is settled once and forever.
I now request you to kindly confirm if my understanding of your valuable advice is proper or not.
Thanks once again for your valuable advice.
Regards,
Anand.
