Manoj Abraham (x) 29 May 2012

Transfer of property

Hi,

I would be glad if someone could provide me with information of transfer of property and how to go about with it.

My father and mother owned a Flat(property) in Pimpri ( Pune, Maharashtra) they had equal share in it. We are two sisters ( 2 kids from our father and mother).

My father did not write any will and he passed away ( expired - 2009).

As far as I know my mother has 50% share in the property now, my sister has 25% and I have got 25% share .

My mother would like to give the flat to me . How do my mother transfer the property to me and how will my sister give away her share in the property to me.

What sort of agreements are needed, which will be full proof so no one would come asking for the property at a later stage.

Thank you guys

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5 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 29 May 2012

Dear Querist,

It's a misconception that your mother owns hallf the property and rest is shared by you sisters. Your mother always owned half of the property, and on your father's demise only half goes by succession and mother alongwith children is a class I legal heir and succeeds equally. Hence mother gets 4/6th of the entire property - and sisters get 1/6ith each, they can reliquish their shares by way of a registered reliquishment deed in your favour.

STANLEY COUTINHO (Consultant) 29 May 2012

1. Your mother can gift her property through a Gift Deed to you (stamp duty as applicable), while yr sister can make a relinquishment deed in your favour. On completion / registration of both the Deeds, u can effect the mutation in the land records.

2. Your mother can pass the property to you through a will (no stamp duty) and yr sister can made a relinquishment deed in your favour. While the relinquishment deed enable you to register the property in your name immediately, the will has to await the 'unpleasant eventuality'. The will can however be changed at anytime before that eventuality - an item of uncertainty u have to consider!

Ajit Singh Cheema (practising Advocate) 29 May 2012

First of all correct yourself as far as the shares are concerned,YOUR MOTHERS SHARE IN THE PROPERTY shall be 66.67%,your share and your sisters share shall be 16.665% EACH. for getting the property transferred in your name the best option is to get the share of your mother and sister transferred to your name through a gift deed out of natural love and affection.The gift shall be duly accepted by you,Witnessed by two witnesses and duly REGISTERED.

JANAK RAJ VATSA (ADVOCATE) 29 May 2012

the percentage share have already been worked out by ld cheema ji . the option of gift deed would be preferable because although comparatively expensive but immediately effective without any imponderables in this dynamic society where relations are also fluid at times.

K.K.Ganguly (Advocate) 29 May 2012

Your mother already had 50% share of the flat being joint owner with your father. After the demise of your father, his 50% share of the flat will be equally devided amongst all three of you being your mother, you and your sister. Now your mother and your sister can transfer their part of the property by a registered deed of relinquishment. Be careful of the individual shares of your mother & sister. They can not transfer or relinquish more than what they have legally.