Civil Procedure Code (CPC)

Deeds required for sale of inherited property


My father was a joint owner of a flat with his mother, in a Cooperative Housing Society, in Mumbai. 

His name appeared first in the society share certificate.

After the death of my grandmother, my father got her name removed and became the exclusive owner/shareholder of the flat. 

Thereafter, my father died intestate leaving behind my mother, my younger brother & me.

Since, my mother's name was mentioned as a nominee, the society transfered the shares in her name & made changes in the share certificate accordingly.

Subsequently, the society went in for redevelopment & my mother signed the tripartite agreement with the society & developer, on our behalf.

We now propose to sell the property & distribute the proceeds amongst us.

My questions:

1. Is my Mother an exclusive Owner of the New Property (share, title etc)? 

2.Being a Hindu girl, àm I entitled to a share in the property? 

3. If the Ans to qs 2 is YES, what documentation is needed to be done to include my name as a rightful co owner? 

4. What documentation is required to be done for sale of the property so as to get direct remittances from the buyer in our respective name and save tax. 

5.How can we structure the sales deal so as to legally save the outgoings (IT & Capital Gains) ?

6.What deeds need to be prepared?

 
Reply   
 
advocate

1. No. 

2. Yes.

3. your adhar and pan card would suffice since your mother is alive. unless some purchaser insists on succession certificate for you three. 

4. every sane builder will insist on paying equally to you three unless you put in a specific clause describing the respective sums of money each of you are supposed to get. 

5. thats a complex question to be answered since its an ancestral property. your ca or the guy who processes your IT returns would be able to guide you after going through your documents. anyways, your purchaser has to pay TDS and issue certificate plus remainder payment to you. 

6. for sale, a sale agreement which will be prepared by the purchaser as he has to secure his title.  


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Reply   
 


Lawyer

She (your mother) is not the sole / absolute titleholder, where all of you have an equal share with your mother. You have a share in the intestate property left by your father.

For sale and sale proceeds it is to be decided mutually among the LRs / successors.


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Reply   
 
Retired employee.

What about your paternal grandmother?  Was she having legal heirs ?  Have they not claimed any share in their mother's share ?  What exactly was stated in the sale deed about the shares of your father and his mother?  Whose money was involved in such a purchase ?  Please always state exact years for a better understanding of facts.


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Reply   
 

Thank you very much for your point by point elaborate reply. 

Having read your & others reply, it seems to me that we need to do some documentation to have a clear tittle of the property before we go in for sale. 

Please share what deeds are required to be prepared ? 

Regards

 
Reply   
 
Advocate

What is the stage of the redevelopment? If redevelopment has not been completed, why you are in a hurry to sell the property?

So also, you are yet to provide the information whether your father was the  only legal heir to his mother.

 
Reply   
 

Thank you for your reply. 

As desired sharing more details:

1.The structure has been redeveloped. The society has also received the OC & my mother is residing in it for the last 24 months. 

2.My father and his sister, who is alive, but not interested in the property, were the 2 legal heir. 

 
Reply   
 
Advocate

Has the sister relinquished her rights and interests by executing a registered deed?

 
Reply   
 

Yes. 

 
Reply   
 

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