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Tushar (Engineer)     14 August 2017

Transfer of property in blood relation

Dear Experts,

I am rebuilding our house in Maharashtra for my parents. Me and my father visited a consultant for transfer of property from my father to myself. He advised us that we need to perform a sale deed on the government valuation of the house and need to pay regular stamp duty. Is it correct? Do we need to pay stamp duty on transfer of property in blood relation?

The home is ancestral and had been transferred from my grand-uncle to my father (and as per my father it was done by a registered deed, paying some fees at that time). My father has two sisters and I have two sisters.

Property details: Independent house (Villa)

State: Maharashtra

 

Can anyone please advise best way to transfer property on my name?

Will sisters or aunts have any right over property after lawful transfer of property on my name?

 

Thank You.

Kind Regards

Tushar



Learning

 28 Replies

Siddharth Srivastava (Advocate)     14 August 2017

Your father can make gift of the property for which merely 2 percent stamp duty shall be payable and few ceremonies shall be performed. 

1 Like

(Guest)

Rightly advised by Adv Sidharth. Gift deed is the best way out in blood relations.

Regarding any possible litigation from Sisters or Aunts in future,

at least your sister by birth will have right but she/they can relenquish the same in your name if you all agree. A relenquish deed will close this matter.

Regarding Aunts, as you said it is an ansectral property, there is a possibility of they making a claim of their share. Consult a reputed property lawyer in your area. Between, if they were interested, they would already have made a claim by now. 

1 Like

Kumar Doab (FIN)     14 August 2017

Originally posted by : Tushar
Dear Experts,

I am rebuilding our house in Maharashtra for my parents. Me and my father visited a consultant for transfer of property from my father to myself. He advised us that we need to perform a sale deed on the government valuation of the house and need to pay regular stamp duty. Is it correct? Do we need to pay stamp duty on transfer of property in blood relation?

The home is ancestral and had been transferred from my grand-uncle to my father (and as per my father it was done by a registered deed, paying some fees at that time). My father has two sisters and I have two sisters.

Property details: Independent house (Villa)

State: Maharashtra

 

Can anyone please advise best way to transfer property on my name?

Will sisters or aunts have any right over property after lawful transfer of property on my name?

 

Thank You.

Kind Regards

Tushar

It is believed that you are all Hindu.

What is this registered deed?

 

Confirm!

Kumar Doab (FIN)     14 August 2017

Transfer of property/title can be by permitted modes/deed e.g; Sale,Gift.

Stamp duty is state subject and waiver declared by state govrt, depending upon modes/deed and relation as per list of relations/relatives can be availed..........

The details might be available in O/o Authority,in SRO, and even with deed writers...

 

Tushar (Engineer)     15 August 2017

Thanks for a quick reply. Is it 2% of the current property valuation?

 

Regards

Tushar Bramhankar

Tushar (Engineer)     15 August 2017

Yes, we are Hindu. By registered deed I mean, my was not sure if it is a sale deed or a gift? The document was very old and looks like some transaction fee/ stamp duty been paid.

Tushar (Engineer)     15 August 2017

I am not in hurry to transfer the property in my name as long as my parents are living there. I heard that a WILL by my father might be useful in transfer of property after his demise for free of cost. Is this true? If I can get it transferred without paying any uneccesary stamp duty or fee, I willing to wait for next 20 years.

Could experts here please guide?

Kumar Doab (FIN)     15 August 2017

Even old document give descriptttion of deed....

 

Check it carefully or show to elders of family or local counsel or even deedwriter...

Kumar Doab (FIN)     15 August 2017

If WILL is your choice then register it preferably...

Kumar Doab (FIN)     15 August 2017

It is mandatory to probate the WILL in presidential towns of Mumbai, Chennai,Kolkota………..

It is not mandatory to probate at other locations… 

 

The probate has its hazards, time frame,  own expenses + lawyer's fee..............other fee's

Kumar Doab (FIN)     15 August 2017

Any WILL can be contested on valid grounds…. In the WILL is contested it lands up in probate court of pecuniary jurisdiction…………and probate court shall decide……….. 

Kumar Doab (FIN)     15 August 2017

If WILL is not contested and there is NO dispute/differences amongst legal heirs then;

 

 it is simple matter of ‘Testate Succession’.

 

The process and procedure and forms might also be available on website of O/o Authority under whose property falls e.g; MC….Or it is certainly available in O/o Authority………… Generically speaking: The certified copy of WILL, death certificate, legal heir certificate are basic requisites…………….The O/o Authority may ask for NOC from all legal heirs (other than beneficiary) and/or release advt in newspapers asking for objections if any…………..and/or O/o Authority may write to all legal heirs (other than beneficiary) to lodge objections if any in set time………………… and in case NO objections are lodged authority may act upon the WILL and transfer ownership in the name of beneficiary(ies). 

Kumar Doab (FIN)     15 August 2017

The registered settlement deed by your father in your favor with life rights for your father during his life time can be a good prespective..................and with less hazards and safeguard to your interest................

 

1 Like

Kumar Doab (FIN)     15 August 2017

Chose wisely...............

 

NO option is without any FEE, charges,..................

The 1st interest should always be; safety of principle ( property), security in case of contest, safeguards in case the matter and man is dumped in courts of law...........  


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