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Author Topic: Legal opinion : Property transaction  (Read 663 times)

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Offline madhav71

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Legal opinion : Property transaction
« on: February 21, 2014, 01:26:26 AM »
My fatherís home was sold in 2000 as myself & my brother was not in the same city where the home was. So, the transaction amount was divided into three parts equally between my mother, brother & me. Myself & my brother invested the amount in property only to avoid capital gain tax. But to make my mother happy & feel secure, I included her name in the flat I purchased where as this was not the case of my brother. Then, as per my motherís desire, I given 1 lacs each to my three sisters from motherís share, even though my brother was against it.

As stated above, I have a purchased a flat in Mumbai in the joint name of me (first name in the agreement) and my mother (second name). But 2 month back I lost my mother & no WILL is made by her. Now would like to know what are the legal formalities I will have to do for following

1. Share certificate in my sole name? Society has not yet prepared & issued the share certificate to me. Hence, I already submitted an application along with the death certificate of my mother in the society requesting to issue the share certificate in my name.
2. If I want to sale the flat after say 6 months or 1 year? As first owner, can I alone do the transaction?

Now, in this context, is it mandatory to take NoC from all my siblings for doing any transaction of my flat? Whether my brother can ask claim on my flat?

Will be thankful if you can help me by giving legal opinion pls.

 

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