My mother Mrs "X "bought a property (land+small house)in 1974 ,through a registered sale deed ,from an allottee -Mrs "Y" who got the allotment from the Trichy co-operative housing construction society in Tamilnadu way back in 1960 . Since Mrs Y had some balance EMIs payable to the society,the sale deed clearly mentioned that my mother will pay the balance instalments to the society and Mrs Y will arrange to get the conveyance deed from the society.The full sale consideration (less the EMIs payable) was paid and the sale deed was registered in my mother's name in 1974.
On completion of payment of the EMIs in 2006,the society insisted that conveyance deed would be registered in the name of the original allottee Mrs Y and since she was not alive in the name of her surviving son Mr"Z" and that it cannot be registered in the name of my mother Mrs "X" as per their by-laws.My mother who did not understand the legal implications agreed and got the original conveyance deed from Mr "Z" which mentions his name .Unfortunately he passed away soon there after.He does not have legal heirs .His brother's (Brother passed away even before MrZ)sons and daughters are class 2 legal heirs(shall be reffered to as family"V" herein after)
My mother is in possession of the house uninterrupted since 1974.All property tax,water/electricity cards,Patta/Katha are in her name.We want to sell the house .The following approaches were suggested by advocates whom we consulted for title defect rectification prior to sale:
1.Filing a title declaration suit in a civil court and obtaining Ex-parte decree which can be registered prior to sale.
2.Consent deed by family "V" to my mother.But the registrar was emphatic that my mother needs to pay the full 11%registration charges on guideline value.Also the family "V" did not want this approach as they fear that Income tax authorities may slap capital gains tax on them treating this as re-conveyance though there is no value consideration in the consent deed
3.Family "V" members signing the sale deed to be executed by my mother to the prospective buyer as "consenting witnesses"
4.Family "V" members executing a notorised affidavit cum disclaimer and the same being registered in book 4 of the registrar
The Family"V" members are co-operative and are nice people and do not have any interest what so ever in the property but it would be difficult for us to assemble all of them at one time given their tight work schedule and one of them is in middle east.
Given the above ,my questions are as follows:
1.which of the above approaches are legally sound and gives us a pucca legal title which will stand the scrutiny of prospective buyer/bankers
2.Given that civil suit for title declaration may take time in a civil court with attendent court fee,effort,etc ,we feel that it should be our last resort.Are we correct in our thinking?
3.Can some one come up with pros and cons of approaches 3 and 4
4.Are there any other simpler but sound approach keeping in mind the time and logistic constraints of family "V"
Thanks in advance for your time and valuable feed back