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Author Topic: Transfer of Property Rights  (Read 430 times)

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Offline archana13

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Transfer of Property Rights
« on: April 04, 2016, 10:53:44 PM »
Please help us in solving the below mentioned issue:

Long ago, my father had purchased a flat of approximately 1000 sq feet in a Co-op Housing Society in Mumbai. He has four children – 3 daughters and 1 son. One daughter occupied the flat for about 25 years with my father’s oral permission. The nominee for the flat is my mother.

My father died in 2008.

The said flat went for redevelopment and the flat was divided into 2 flats of approx. 1000 sq. feet and 600 sq feet.

My mother who is still alive, divided flat (value) among 4 siblings.  Accordingly she nominated the bigger flat to my sister, who was staying in the old flat prior to redevelopment, and the smaller flat to another sister.  The society acknowledged the nomination form for both the sisters.

My brother did not get anything in the said flat.  However he and the sister, who got the bigger flat, had to compensate the 3rd sister, who did not receive anything in the partition. The amount is since paid and settled.

My mother also made a will on plain paper (unstamped and unregistered), duly witnessed by 2 neighbours, one being a doctor.

The Society has acknowledged the nomination letter given by my mother in favour of one sister for bigger flat and another sister for smaller flat.

They say New Society /Expanded Society is yet to be formed and the New Society is yet to give fresh Share Certificate.

Kindly inform the best method of conveyance, which can  be made to obtain clear title to each flat now:

1. Agreement between mother on one side and the two sisters on the other side. Remaining 2 siblings i.e. one sister and the brother will not come into the picture.  Alternatively all 4 siblings will sign.
2. Partition deed to be signed by mother.
3. Gift deed to be signed by mother on one side and all the four siblings on the other side.
4. Whether said Agreement /Deed is to be done for each flat i.e. above said two flats separately\
5. Any other suitable method may kindly be suggested.
6. Stamp duty to be paid, if any, on the above said AGREEMENT/DEED. Whether it attracts registration.
7 Whether the respective flats will continue in mothers name till she is alive and thereafter devolve on the two respective sisters one for bigger flat and other for smaller flat?

Offline archana13

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Re: Transfer of Property Rights
« Reply #1 on: April 16, 2016, 01:48:22 PM »
Any response?

 

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