Transfer of property

Querist : Anonymous (Querist) 15 January 2018 This query is : Open
Sir/Madam,
My mother has got a registered will dividing equal share to me and to my elder brother. My mother and myself along with my family is staying in the property in question, and my elder brother is having his own now house but is now planning to buy a bigger house. He wants me to give his half share and get the property transfer to my own name from mother.
Please guide my what all documents shall we need to be registered and how get the property transfer in my name? Do I need to pay the stamp duty while getting house deed transfer in my name? The property is a freehold DDA MIG flat registered in New Delhi. Also guide me where will be the will stands now as mother is transferring the property to me. Do we need to get the will canceled or it may automatically get nullified on the event of transfer of the property?
Thanking you.
Sincerely
Hemant

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Vijay Raj Mahajan (Expert) 15 January 2018
The transfer of the freehold property can be done by way of registered Gift Deed between mother and son, the Stamp duty and registration amount based on the circle rate of the property has to be paid. Check with DDA authorities for details. The registered Will can be revoked by making a new Will by the mother with regard to her other properties and estates and the said property's details can be mentioned being gifted to one son by her during her lifetime by her own sweet will and free consent. No objection from all other heirs in doing such transfer was duly taken. A NOC from the other brother may be taken to avoid any future litigation that can be made part of the Will. The new Will can be Registered also to avoid confusion with old registered Will that will be mentioned clearly being revoked in the new Will.

Ms.Usha Kapoor (Expert) 16 January 2018
i'M OF THE OPINION THAT TELL YOUR MOTHER TO GIFT YOUR SHARE AND BROTHER ALSOTO GIFT HIS 1/2 share IN YOUR NAME BY DULY REGISTERING IT. STAMP DUTY DEPENDS-ON CIRCULAR RATE AND ALSO DIFFERS FROM STATE TO STATE.ONCE A DULY REGISTERED GIFT DEED IS MADE IN YOUR NAME TELL YOUR OTHER SIBLINGS GIVE A JOINT RELINQUISHMENT DEED REGISTERED ONE LEAVING ALL RIGHT, TITLE AND INTEREST IN YOUR FAVOR. INCLUDING YOUR MOTHER.ONCE A registered gift deed IS Made by your mother covering the same property etc the will automatically stands cancelled.

Querist : Anonymous (Querist) 17 January 2018
Thank you Mr. Vijay Raj Mahajan and Ms. Usha Kapoor for your valuable response and guidance. Much appreciated. Regards
Hemant

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