My father passed away a few years ago and I haven't yet changed any of the properties to the legal heirs. He did not leave any will documents regarding the same. The properties are not yet shared. So I think, the properties should be changed to all legal heirs including my mother. Can you please let me know what is the procedure?
Ji, all the legal heirs i.e. your mother, you and your siblings (including sisters if any) shall come to decide to divide the property and execute a Partition Deed. The Partition Deed shall be registered at SRO concerned. All should attend SRO for registration. In most of States the Stamp duty @ 1% to 3% leviable for Partition Deeds. However check in your state.
@Mr. kavksatyanarayana, Thanks for your detailed steps and the cost involved. Is there any other option without going for the partition right now?
ie. just transfer the property to all the legal heirs for now and later do the partition? Does that incur double time charges?
Will there be any problems in doing the partition later?
I am asking this because one of my siblings is currently abroad who may not be able to attend the partition @ SRO in the near future. Also, what would happen or what will be the impact if we are not transferring the property or do the partition for now? Does partitiion always attract 1% or whatever % of stamp duty? Is there any other means by which we can avoid this stamp duty and do the partition?