Sunny Bangalore (temp) 11 January 2020
Hello
both my parents passed away in the last few years and left behind a property in Bangalore and a property in telengana. They were both apparently intestate. I have 2 siblings so totally 3 of us.
what is the best way to get the property transferred to our names mentioning equal share but without dividing by metes and bounds? We would like to keep costs and stamp duty to a minimum but the property values are quite high (20-30 crore)
Pls advice
Shashi Dhara 11 January 2020
kavksatyanarayana (subregistrar/supdt.(retired)) 11 January 2020
You, 3 siblings, have equal rights over the properties. On mutual and amicable settlement, you can divide the properties in un-equal shares also. The Stamp duty for the partition deed of property between family members (father, mother, sister, brother, son and daughter) is less. the stamp duty vary from one State to another State. so consult in SRO (through online also).
G.L.N. Prasad (Retired employee.) 12 January 2020
Approach to District Legal Services Authority, after writing a settlement deed and get the deed the status of award and they will ask Registrar to Index it in their records. Such settlement deeds carry nominal stamp duty.
Rupin Dhama 12 January 2020
P. Venu (Advocate) 12 January 2020
The property is already vested with you. You may may execute a partition or settlemnt deed. In many States, stamp duty involved is nominal. Please verify with the SRO or a local document writer in the respective State where the property is situated.
Dr J C Vashista (Advocate) 13 January 2020
Well advised by expert, I endorse it.
It is advisable to consult a local prudent lawyer with relevant records for appreciation of facts, professional advise and proceeding as required.
T. Kalaiselvan, Advocate (Advocate) 18 January 2020
You three can apply for transfer of revenue records to your names by producing the death certificate and the legal heirship certificate to the concerned authorities in both the places.
After that you can partition the property among yourselves as per the mutually agreed terms and conditions among yourselves. The stamp duty and other costs have o be borne by you as per law.
Member Strength 9,46,701 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
