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Siddhi   31 March 2023

Transfer of office in the name of legal heir.

This pertains to Mumbai, Maharashtra.

I am a legal heir and wish to buy the office owned by my late father at market value from other legal heir to set up Legal Assistance Center.

1) How to transfer it in my name? It's in the name of late father and we have obtained LOA from High Court & I m one of the administrator.

2) Do I have to pay stamp duty?

3) How to execute transfer deed?

3)


Learning

 3 Replies

Dr J C Vashista (Advocate)     31 March 2023

Did you not pay stamp duty (as applicable in Maharashtra) at the time of issuance of Letter of Administration and passing order / judgment in probate case ?

If LoA is already issued in favour of beneficiary of will s/he may transfer in your name.

Your lawyer (engaged/ paid in probate case) is the best person to advise you since s/he is well aware about facts and circumstances of the case which are vague and incomplete in your post.

Real Soul.... (LEGAL)     31 March 2023

The LOA gives you powers to tramnsfer or alinate the property of just only to manage it. You have to follow that in its spirit. However if you want to buys the proeprty at market value then just get the sale deed signed by your other LR's and register that , that will be absolute title.

T. Kalaiselvan, Advocate (Advocate)     31 March 2023

You can discuss with your siblings i.e., other legal heirs about selling their share in the property to you on the market value and can opt to execute either a registered release deed in your favor relinquishing their rights, or to transfer their shares to your name by executing a registreed sale deed.

In either of the case you may have to pay the stamp duty and the registration charges.

Any transaction of an immovable property has to undego the registration process or else the transaction will be invalid in the eyes of law as per transfer of property act. 


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