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Deepa Jyothi (N/A)     03 September 2018

Transfer of property

Dear Sir/Madam,
My husband had bought a property in his father's name. It is on a loan. He is paying the EMI's. We want to transfer the property to our names. (Me and my husband). But the registration cost (registration + Stamp duty) seems to  be higher which we are finding difficult to afford. The property's value is 3500000 and the outstanding amount is 2300000. It is a term loan.
We have a few questions.
1) Would you please suggest a cost effective way of transfering it to our names?
2) If we are able to pay some part payment, will that have any effect on the cost of name transfer.
3) What is settlement deed? Does it mean that the receiver will not have any other share in his father's property?


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 4 Replies

Adv Deepak Joshi +917017821512 (Advocate)     03 September 2018

Dear querist,

WILL of your father in law will be cost effective to handle this issue.

 

Deepak Joshi & Associates

Djaa.legal@gmail.com

Mb/whatsapp +919456777600

Deepa Jyothi (N/A)     03 September 2018

Thank you for your response sir. But it will be inappropriate to suggest an elderly person to write a will.

I would like to know much about the 3rd question. Could you please advice.

TGK REDDI   03 September 2018

Registration Charges for transfer of property by father to son are almost nominal.

mukesh (Legal Consultants)     03 September 2018

I would suggest execute a Release Deed from from Father to Son (but only son and not his wife) It can b executed on nominal SD and Regn Fee as there's blood relation between 2

 

Adv Mv Jha

9867170507


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