Registration fee

This query is : Resolved 
 


Querist : Anonymous (Querist)
29 June 2020

Suppose A, B, C are three brothers and their father died intestate. They jointly inherited a house which is still in fathers name. Now A wants to purchase the share of B and C. Do he will be require to pay entire registration fee ? (Property is in M.P)


Dr J C Vashista (Expert)
30 June 2020

The share of vendor (seller) shall be liable to pay stamp duty as applicable in the State (MP) and regsitered in the name of vendee (purchaser)

Dr J C Vashista (Expert)
30 June 2020

What is the market / circle rate of the share of B & C in the house under sale/ purchase by A ?
Stamp duty has to be paid for the share of B & C excluding his (A's) own share in the house.


Querist : Anonymous (Querist)
30 June 2020

Is there any case law or section which states that stamp duty has to be paid for only B and C share and not of A?


Querist : Anonymous (Querist)
30 June 2020

Is there any case law or section which states that stamp duty has to be paid for only B and C share and not of A?

N.J.S.Rajkumar alias narasimha (Expert)
30 June 2020

If your aim is only to minimize the Expenses of Registration your other two brothers could execute an Settlement Deed or Release Deed in your favor mentioning in detail their Legal Heir Rights of the concerned property.. Discuss in detail with an Senior Document Writer at the concerned Registrar Office.

Rajendra K Goyal (Expert)
30 June 2020


Find out the fair market value / market value of the property. 1/3 of higher of the fair market value / market value would be the value of share of B & C each.

Stamp fee on gift to near relatives is 1% in MP (Please confirm present situation from local lawyer), they can gift you their portion to save stamp fee.

Or B & C can sell their portion to A, stamp fee will have to be paid on fair market / market value (higher of the two) of their individual share.

P. Venu (Expert)
30 June 2020

Please post the material facts bringing out the real issue, if any. Please do not post riddles.

kavksatyanarayana (Expert)
30 June 2020

You posted that "A, B, and C" are brothers and their died intestate, how A can purchase the shares of B and C. Whether their mother is alive or not and any sisters or not? If they have no mother and sisters, then A can purchase the shares of B and C. The stamp duty is 5% on the consideration or market value whichever is higher + other charges such as registration fee, local body fee and user charges. If B and C relinquish their rights in favour of A, then the stamp duty is 2.5% on the consideration or market value whichever is higher.

Rajendra K Goyal (Expert)
30 June 2020

Agree, B & C can relinquish their rights in favor of A.



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