I purchased an under construction flat in navi mumbai 2 year back on my name and have my mother's name as co owner so that she could sign on my behalf as I and my wife were outside India. It's registration and stamp duty is already done on my and my mother's name a year back.
Now, I have to make last payment to builder within one month that has possession amount, service tax, government charges, maintanance for 2 years, etc. I want to withdraw this from my Provident Fund (PF) account but found that this is not possible as my mother is co owner.
Please guide me with below questions:
1. Is there such a restriction of co owner must be spouse only for PF withdrawal?
2. If yes, what is the easiest and least expensive way to make PF withdrawal possible in such a case?
3. Is transfer deed or gift deed sufficient to make PF withdrawal possible without redoing registration and stamp duty as this transfer is within family?
4. If no, how much will be cost of redoing registration and stamp duty and how long does it take?
