Transfer of property

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. 

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! 

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.

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.

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.