Hi Law Gurus,
My father and mother co-owned a flat in Borivli, Mumbai.
Father passed away intestate leaving behind my mother, myself (his son) and my married sister. My Father had appointed me as his nominee. Share certificate has names of both, my Father and my Mother.
My aged Mother and married Sister are willing to hand over their complete shares to me so that the property becomes on one single name ie. my name.
My query is as below:-
- Will my Mother and Married sister have to do a Release deed to pass on their shares inherited to them as a result of my Father's death? If so, how much stamp duty is applicable?
- Will my Mother have to do a Gift Deed for her original 50% of share? If so, how much stamp duty is applicable?
- Is there any other cost effective legal way in which we can achieve clear title of the property after my Fathe's death.
Regards,
MS
