D. Malhotra
24 January 2012 at 11:34
Dear -
I am planning to buy a property which is currently not freehold. This is a FLAT alloted by Dellhi Development Authority to "X" person from whom I am planning to buy. The allotte has, after allotment, included his spouse name by applying to DDA. He has all the original documents available and he wants to sell it without freehold as the wife and husband are separated and lives separately. They have only 1 son living with wife. Both of them are in mutual agreement to sell the property through a middle family member, whom I can trust blindly. My query is :
I have thought of doing follwoing :
- In 1 go, I will pay all the sale proceedings to him with following court registered documents by paying proper stamp duty :
- Sale Agreement with possession
- GPA
- Will
- no dues certificate till date
- affidavit that they haven ot take any kind of loan, mortgagem secured or unsecured loan on suc property etc. etc
(if you can suggest more documents to be take, let me know please.)
- then after taking posession and starting living, immediately apply for freehold to DDA and get the conveance deed in my name.
- Is the above ok like from legal standpoint etc.?
- is there any other thing i should take care which documentation.
- can i make all documents in my name as primary and my wife name as secondary.
Please let me know.
Tks & regards
Deepak Malhotra
-
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Relinquishment of shareholding of co-owner
Dear Sir/Madam,
Myself (co-applicant) along with my Niece (brother's daughter - main applicant) had booked a flat about 5 years back in which 25% of payment is given by myself and 75% payment is given by the niece.
Now the flat is ready for possession however one of us want to relinquish our share (either me or her) so that after possession registry can be done only in 1 person name. what should we do for same.......... some queries in my mind were as follows :-
1. can one of us just pay the actual amount to other person and inform the builder for the same to update their records ? Is this enough ?
2. do we have to make some legal documentation such as relinquishment deed etc. IF YES, is that need to be registered or notarized is fine ?
3. Is there any tax issues in terms of property tax laws ?
4. Is there any tax issue in terms of income tax as we are in blood relation ?
Let me know please. Thanks in advance for support.